Consumer & Community Context
Accessible Version - Consumer and Community Context - November 2021
Figure 1. Two-thirds of parents experienced childcare or in-person K–12 schooling disruptions since the pandemic's onset
| Disruption type | Percent |
|---|---|
| Childcare disruption | 25 |
| Youngest child's classes at least partially online | 55 |
| Childcare disruption or youngest child's classes at least partially online | 68 |
Note: Among parents. Parental status is based on whether the respondent lived with their own children under age 18. Respondents could choose both options.
Source: 2020 Survey of Household Economics and Decisionmaking.
Figure 2. One-fourth of mothers said they were not working or working less due to childcare or in-person K–12 schooling disruptions
Percent
| Characteristic | Not working | Working less | Total |
|---|---|---|---|
| Mothers overall | 14 | 11 | 25 |
| Black | 16 | 20 | 36 |
| Hispanic | 13 | 17 | 30 |
| White | 9 | 10 | 19 |
Note: Key identifies bars in order from left to right. Since COVID-19 pandemic onset in March 2020. Other race/ethnicities not shown due to sample size limitations. Parental status is based on whether the respondent lived with their own children under age 18.
Source: 2020 Survey of Household Economics and Decisionmaking.
Figure 3. Mothers not working or working less due to childcare or in-person K–12 schooling disruptions were more likely to exhibit financial fragility
Percent
| Status | Not working or working less | All mothers |
|---|---|---|
| Doing at least okay | 46 | 65 |
| Would cover $400 emergency expense completely using cash or its equivalent | 37 | 52 |
| Able to pay current month's bills in full | 53 | 73 |
Note: Key identifies bars in order from top to bottom. Since COVID-19 pandemic onset in March 2020. Cash or its equivalent is defined as cash, savings, or a credit card paid off at the next statement. Parental status is based on whether the respondent lived with their own children under age 18.
Source: 2020 Survey of Household Economics and Decisionmaking.
Figure 4. Mothers not working or working less due to childcare or in-person K–12 schooling disruptions saw financial well-being declines after the pandemic's onset
Share doing at least okay
| Category | 2019 | 2020 |
|---|---|---|
| All mothers | 74 | 70 |
| Mothers not working or working less due to childcare or K–12 schooling disruptions as of fall 2020 | 56 | 41 |
Note: Key identifies lines in order from top to bottom.
Source: 2020 Survey of Household Economics and Decisionmaking.
Figure 1. Wealth for single mothers was very low in 2019
| Category | Median family wealth, 2019$ | 90% CI (+) | 90% CI (-) | Error bars |
|---|---|---|---|---|
| Single women | ||||
| All | $46,928 | $54,973 | $38,883 | $8,045 |
| Without children | $64,642 | $73,326 | $55,958 | $8,684 |
| With children | $7,088 | $9,360 | $4,816 | $2,272 |
| Single men | ||||
| All | $56,882 | $65,108 | $48,656 | $8,226 |
| Without children | $56,706 | $65,507 | $47,905 | $8,801 |
| With children | $59,418 | $82,964 | $35,872 | $23,546 |
Note: Wealth is rounded to the nearest $1,000; 95 percent confidence intervals are shown; overlapping error bars indicate wealth values did not significantly differ.
Source: Federal Reserve Board’s Survey of Consumer Finances and author’s calculations.
Figure 2. Wealth of single mothers of color much lower than that of single White mothers
| Category | Median family wealth, 2019$ | 90% CI (+) | 90% CI (-) | Error bars |
|---|---|---|---|---|
| Single mothers | ||||
| White | $46,024 | $63,982 | $28,066 | $17,958 |
| Black | $4,154 | $6,293 | $2,015 | $2,139 |
| Hispanic | $4,360 | $7,216 | $1,504 | $2,856 |
| Single women without children | ||||
| White | $98,824 | $112,935 | $84,713 | $14,111 |
| Black | $11,968 | $21,384 | $2,552 | $9,416 |
| Hispanic | $14,340 | $32,460 | -$3,780 | $18,120 |
Note: Wealth is rounded to the nearest $1,000; 95 percent confidence intervals are shown; overlapping error bars indicate wealth values did not significantly differ.
Source: Federal Reserve Board’s Survey of Consumer Finances and author’s calculations.
Figure 3. Unemployed single mothers report high levels of financial instability
Percent
| Status | Unable to pay bills in full | Just getting by | Worse off compared to 12 months ago |
|---|---|---|---|
| Single unemployed mothers | 33 | 48 | 35 |
| Single employed mothers | 22 | 31 | 27 |
| Other single unemployed parents | 31 | 42 | 39 |
| Unemployed single women without children | 27 | 41 | 32 |
Note: Key identifies bars in order from left to right. Responses were given in November 2020.
Source: Federal Reserve Board’s 2020 Survey of Household Economics and Decisionmaking and author’s calculations.
Figure 4. Single unemployed mothers of color more likely to report struggling financially
Percent
| Characteristic | Unable to pay bills in full | Just getting by or finding it difficult to get by | Worse off financially compared to 12 months ago |
|---|---|---|---|
| White | 23 | 43 | 35 |
| Black | 49 | 52 | 34 |
| Hispanic | 34 | 51 | 38 |
Note: Key identifies bars in order from left to right. Responses were given in November 2020.
Source: Federal Reserve Board’s 2020 Survey of Household Economics and Decisionmaking and author’s calculations.
Figure 1. Percent of respondents who put off applying for at least one credit application
| Characteristic | Men | Women |
|---|---|---|
| Overall | 10 | 12 |
| Race/ethnicity | ||
| Non-White | 14 | 17 |
| White, non-Hispanic | 7 | 10 |
| Family income | ||
| Less than $50,000 | 16 | 19 |
| $50,000–$99,000 | 8 | 10 |
| $100,000 or more | 3 | 4 |
| Family status | ||
| No children | 9 | 10 |
| Children | 14 | 19 |
Note: Key identifies circles in order from left to right. Put off applying for credit includes adults who put off applying for additional credit as well as those who did not apply for any credit during the previous year but desired it.
Source: Author’s computations using 2020 SHED data.
Figure 1. Effects of the pandemic on business operations and performance among employer firms
| Status | Women-owned | Men-owned |
|---|---|---|
| Temporarily closed during the pandemic | 32 | 22 |
| Reduced operations as a result of the pandemic | 61 | 54 |
| Reported declining revenues in the prior 12 months | 83 | 76 |
Note: Key identifies bars in order from top to bottom.
Source: Authors’ calculations using data from the 2020 Small Business Credit Survey.