Eviction moratoriums have been put in place, but they don’t protect everyone.
By Casey Bond
The coronavirus pandemic is responsible for some of the most staggering unemployment numbers our country has ever seen. In the last week alone, 6.6 million people applied for jobless benefits, according to the Labor Department. That number is expected to increase, and the unemployment rate may ultimately reach 32%.
Even though the coronavirus has significantly altered most aspects of daily life, one thing that hasn’t changed is the cost of living. Though some workers are fortunate to still have their jobs, many will be forced to make tough decisions about which bills get paid.
Nearly 3 in 4 Americans report personal finance challenges as a result of the crisis, according to an analysis by data research startup Elucd. Seventy-two percent of Americans are unable to pay their expenses as normal, while 18% report being completely unable to cover their expenses this month.