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Overall financial well-being of U.S. households in 2020 similar to 2019, though uneven across education and race

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