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IPFS News Link • Economy - Economics USA

Sixty percent of Americans won't be able to cover basic necessities in a month or less...

•, by: Isabelle Z.

America is dramatically unprepared for the economic shutdown we're currently facing as the nation grapples with coronavirus, and one recent survey illustrates just how serious the problem is.

When the Society for Human Research Management surveyed American workers from March 12 to 16, they found that 60 percent of respondents would not be able to meet their basic financial needs if we had a month or less of quarantine.

Some are in even worse shape than that, with one in five people saying they would not be able to afford their rent, groceries and essential bills like water and electricity after a mere week of quarantine.

With some areas of the country already entering their third or fourth week of quarantine, it's scary to think what could be lying ahead.

The Society for Human Research Management's CEO, Johnny C. Taylor Jr., said: "This has a real impact on people's lives and it's creating a level of stress that cannot be overstated." He added that this pandemic is posing more challenges than the financial crisis of 2008 and that the situation is widely expected to get worse before it gets better.