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Millennials Report Greatest Impact of COVID-19 on Jobs and Income

Two-thirds of Americans remain concerned they may lose their jobs. About half are worried COVID-19 will have a negative impact on their finances.

But as the crisis marches on, these emotions and concerns are slightly less intense than they were a week earlier — and most Americans also believe the pandemic’s effect on their lives won’t last beyond October.

Compared to other generations, millennials appear to be bearing more of the brunt of the impact. In addition to being more likely to lose work and income, they and members of Generation X are most likely to say they would need more education or training to replace a lost job.

Those were among the findings in the third week of a nationally representative survey* of 1,000 people that is designed to track the impact of the pandemic on Americans’ lives, work, and education. Results are released weekly to provide insights to the education providers, policymakers, employers, and individual Americans who are navigating the crisis.

Source: Strada Education Network Center for Consumer Insights