皮尤-新冠流行病困扰着美国中、低收入家庭的财政状况（英）-2022.4-22页_600kb

Summary of "COVID-19 Pandemic Pinches Finances of America's Lower- and Middle-Income Families"

Core Content

This report by the Pew Research Center, released on April 20, 2022, examines the financial impact of the COVID-19 pandemic on U.S. households across different income tiers. It uses data from the Current Population Survey (CPS) and its Annual Social and Economic Supplement (ASEC) to analyze income trends, unemployment experiences, and movements across income tiers from 2000 to 2021.

Main Points

• Income Trends:

  • The median income of lower-income households decreased by 3.0% from 2019 to 2020.
  • Middle-income households saw a 2.1% drop in median income during the same period.
  • Upper-income households experienced minimal change in median income, with a slight increase of 1.8%.
  • The income gap between upper-income and other households widened from 7.0 times in 2010 to 7.3 times in 2020.

• Unemployment Impact:

  • In 2020, about one-in-five middle-income families (18.0%) received unemployment benefits.
  • Lower-income adults had the highest work-experience unemployment rate at 28.2%, followed by middle-income (13.8%) and upper-income (7.8%) adults.
  • The overall work-experience unemployment rate in 2020 was similar to that in 2010 (15.0% vs. 15.2%).

• Unemployment Insurance Benefits:

  • The share of households receiving unemployment insurance benefits was higher in 2020 than in 2010.
  • These benefits accounted for 13.9% of the income of lower-income households, 12.4% of middle-income households, and 4.6% of upper-income households in 2020.
  • Unemployment insurance played a crucial role in mitigating financial losses, particularly for lower- and middle-income households.

• Economic Impact Payments:

  • The CARES Act provided economic impact payments to households, primarily targeting lower- and middle-income families.
  • 97% of lower-income households, 100% of middle-income households, and 53% of upper-income households received these payments in 2020.
  • The payments were in the form of refundable tax credits and boosted disposable income but did not affect gross income.

• Income Tier Movements:

  • Despite the economic challenges, the shares of adults in each income tier remained largely unchanged from 2020 to 2021.
  • 68% of middle-income adults stayed in the middle class, while 16% moved up to upper-income and 16% down to lower-income.
  • Similar patterns were observed from 2000 to 2021, with income volatility remaining consistent over decades.

• Demographic Variations:

  • White and Asian adults were more likely to move up to upper-income tiers than Black and Hispanic adults.
  • Higher education levels were associated with less likelihood of moving down from upper-income tiers and more likelihood of moving up from middle-income tiers.

Key Information

• Income Definitions:

  • Middle-income households: Two-thirds to double the U.S. median household income, adjusted for household size.
  • Lower-income households: Less than two-thirds of the median.
  • Upper-income households: More than double the median.

• Data Sources:

  • The analysis is based on the CPS ASEC data from 2000 to 2021.
  • Updated Census Bureau weights were used to correct for nonresponse in the surveys.

• Methodology:

  • The report uses a "work-experience unemployment rate," which measures the proportion of adults who experienced unemployment at least some of the time during a year among those who worked or looked for work.
  • It also examines how income volatility and movement across tiers have remained consistent over time, with only minor changes since 2000.

Conclusion

The pandemic had a more pronounced impact on the financial wellbeing of lower- and middle-income households compared to upper-income households. While unemployment rates increased for all tiers, the benefits and economic relief programs helped cushion the effects, particularly for lower- and middle-income families. Income distribution continued to favor upper-income households, and movement across income tiers remained stable, with no significant shift in the proportion of middle-class adults since the Great Recession.