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U.S. Families' Experiences of the COVID-19 Pandemic: Evidence from the Survey of Consumer Finances
Figure 1. Mean Income across Pandemic Experiences, by Usual Income Group
2022 Dollars
| All | Percentile of Usual Income | ||||||
|---|---|---|---|---|---|---|---|
| Less than 20 | 20-39.9 | 40-59.9 | 60-79.9 | 80-89.9 | 90-100 | ||
| Employment | |||||||
| Work reduction | 98,000 | 24,000 | 44,000 | 69,000 | 115,000 | 186,000 | 479,000 |
| Work increase | 140,000 | 27,000 | 46,000 | 74,000 | 119,000 | 198,000 | 562,000 |
| No change | 161,000 | 21,000 | 46,000 | 75,000 | 125,000 | 207,000 | 759,000 |
| Health | |||||||
| Persistent symptoms | 106,000 | 23,000 | 46,000 | 67,000 | 111,000 | 184,000 | 599,000 |
| No persistent symptoms | 150,000 | 22,000 | 45,000 | 75,000 | 124,000 | 204,000 | 704,000 |
| Hospitalization | 91,000 | 20,000 | 52,000 | 62,000 | 106,000 | 206,000 | 444,000 |
| No hospitalization | 144,000 | 23,000 | 45,000 | 74,000 | 122,000 | 201,000 | 696,000 |
| Telework | |||||||
| No telework | 100,000 | 22,000 | 45,000 | 72,000 | 122,000 | 193,000 | 625,000 |
| Any telework | 259,000 | 27,000 | 48,000 | 78,000 | 122,000 | 210,000 | 739,000 |
Note: The key in each panel identifies series in order from left to right. All families are included in the “all” category, but for illustrative purposes, the figures do not separately present the top decile. COVID-19 question categories are defined for the Survey of Consumer Finances (SCF) respondent (and their spouse or partner, if applicable). Employment experience classifications use the first response to the employment status question from each person. "No change" in employment refers to either no change or the small percentage of families (less than 2 percent of families in each grouping we consider) that reported both a reduction and increase across spouses or partners. Hospitalization and persistent symptoms are not mutually exclusive categories. Telework leverages the full menu of possible responses to employment status (as opposed to just the first response). Income is measured for the calendar year before the survey.
Figure 2. Mean Net Worth across Pandemic Experiences, by Usual Income Group
2022 Dollars
| All | Percentile of Usual Income | ||||||
|---|---|---|---|---|---|---|---|
| Less than 20 | 20-39.9 | 40-59.9 | 60-79.9 | 80-89.9 | 90-100 | ||
| Employment | |||||||
| Work reduction | 635,000 | 85,000 | 165,000 | 307,000 | 527,000 | 1,181,000 | 4,756,000 |
| Work increase | 720,000 | 62,000 | 97,000 | 167,000 | 404,000 | 902,000 | 4,189,000 |
| No change | 1,286,000 | 157,000 | 261,000 | 442,000 | 712,000 | 1,330,000 | 7,347,000 |
| Health | |||||||
| Persistent symptoms | 601,000 | 60,000 | 138,000 | 214,000 | 394,000 | 992,000 | 5,407,000 |
| No persistent symptoms | 1,161,000 | 145,000 | 239,000 | 427,000 | 684,000 | 1,311,000 | 6,787,000 |
| Hospitalization | 646,000 | 124,000 | 190,000 | 299,000 | 504,000 | 1,192,000 | 6,204,000 |
| No hospitalization | 1,081,000 | 130,000 | 220,000 | 389,000 | 641,000 | 1,268,000 | 6,637,000 |
| Telework | |||||||
| No telework | 859,000 | 125,000 | 228,000 | 419,000 | 724,000 | 1,482,000 | 8,227,000 |
| Any telework | 1,636,000 | 261,000 | 149,000 | 262,000 | 515,000 | 1,029,000 | 5,501,000 |
Note: The key in each panel identifies series in order from left to right. All families are included in the “all” category, but for illustrative purposes, the figures do not separately present the top decile. COVID-19 question categories defined over the Survey of Consumer Finances (SCF) respondent (and their spouse or partner, if applicable). Employment experience classifications use the first response to the employment status question from each person. "No change" in employment refers to either no change or the small percentage of families (less than 2 percent of families in each grouping we consider) that reported both a reduction and increase across spouses or partners. Hospitalization and persistent symptoms are not mutually exclusive categories. Telework leverages the full menu of possible responses to employment status (as opposed to just the first response).