money Study: Parents with children at home hit hardest by economic fallout from pandemic
American parents with children at home are getting hit hardest by the coronavirus pandemic, according to a new study, leading to food insecurity and worries over housing.
More than half (55%) of households with a child under the age of 18 had at least one adult lose employment income since the start of COVID-19, higher than the rate for all households combined, according to a new Census Bureau survey that received nearly 250,000 responses from U.S. households.
Read more: More produce, bigger bills: How our grocery shopping has changed during the pandemic
Parents or adults with children at home were also more likely to report that their job loss was permanent rather than temporary, compared with workers with no children at home.
A product of the bureau’s partnership with five other federal agencies, the weekly Census survey offers a near real-time insight into how Americans are faring in the COVID-19 world.
Growing food insecurity
Grocery shopping habits have changed since March as people have imposed cost-cutting measures of austerity out of illness or job loss or the potential threat of both. But impact is felt disproportionately by households with children.
Read more: Coronavirus: How to apply for food stamps
While all adults have noted changes in availability of certain types or brands of food, adults living with children were more likely to report not having enough to eat, versus those with no children, the study found.
A two-adult household spends an average of $150 per week for groceries to prepare meals eaten at home. By contrast, adding one child to the household means the weekly grocery bill increases to an average of $210. That number steadily rises per child, reaching nearly $355 for households with five or more children.
The data complements Yahoo Money’s earlier reporting that Americans are seeking assistance in providing sustenance for themselves and their families by leaning into government food stamps and flooding food pantries and banks across the country.
Compounding the unemployment crisis is a surge in grocery prices, with April prices for some shopping list staples increasing by a 50-year high.
Making June rent and mortgage
Those struggling to put food on the table are also struggling to put a roof over their children’s heads with parents with kids at home reporting greater hardships.
Read more: Coronavirus: Here’s what to do if you can’t pay your mortgage
Confidence in making next month’s mortgage payment is lower among parents living with their children than it is with adults who live in childless-homes. About 7.6 million people with minor-aged children have no or slight confidence in their ability to pay the mortgage in June, compared with 6.3 million people without children, according to the survey.
The disparity is greater for renters. Nearly 13 million people with minor-aged children have no or slight confidence on making next month’s rent, whereas 10.2 million people without children reported the same answer.
Read more: Coronavirus: Here's what to do if you can’t pay rent
The survey polled people in three waves. For the April 23-May 5 period, the Census received 74,500 responses. For the second wave from May 7-12, it received 42,000 household responses. For the third and most recent wave from May 14-19, 133,000 American households provided responses.
Stephanie is a reporter for Yahoo Money and Cashay, a new personal finance website. Follow her on Twitter @SJAsymkos.
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