The Federal Reserve reports on the findings of the 2020 Survey of Household Economics and Decisionmaking (SHED). Although overall financial well-being fluctuated throughout 2020, by the end of the year financial well-being was back to 2019 levels, with 75 percent of adults “at least doing okay” financially. However, this was true of just 45 percent of adults with less than a high school degree. Worse financial well-being was also documented among adults identifying as Black, Hispanic, or LGBTQ+. Additionally, almost one-quarter of adults reported that they were worse off financially compared to 12 months earlier (an increase from 14 percent in 2019). #covid-19 #racialequity #wealth&assets
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