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Faculty of Economics

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Adams-Prassl, A., Boneva, T., Golin, M. and Rauh, C.

Inequality in the Impact of the Coronavirus Shock: New Survey Evidence for the US

CWPE2022

Abstract: Using new US survey data collected on March 24th 2020, we already find that: 65% of workers engaged in less paid work over the past week than usually. 11% of workers had already lost their job due to COVID-19. For those still in work, the expected probability of job loss within the next four months is 40%. On average, workers expect to earn 39% less in the next four months compared to usual. As a consequence, workers expect there is a 56% chance of having problems paying their bills. 93% of respondents expect to have problems paying usual bills with above zero probability. The harsh impacts are not evenly distributed across the population; the young ,and low income earners have been hit hardest. Workers without paid sick leave are more likely to go to work in close proximity to others.

Keywords: COVID-19

Author links: Christopher Rauh  

PDF: http://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe2022.pdf

Open Access Link: https://doi.org/10.17863/CAM.52490

COVID-19 Economic Research Special Feature: COVID-19 and the Effect on Workers