Parents' employment, income, and finances before and during the COVID-19 pandemic

Selena T Garrison; Shelli D Rampold; Katherine Vasquez; Martie Gillen; Lauri M Baker

doi:10.1111/joca.12443

Parents' employment, income, and finances before and during the COVID-19 pandemic

J Consum Aff. 2022 Spring;56(1):276-291. doi: 10.1111/joca.12443. Epub 2022 Mar 7.

Authors

Selena T Garrison¹, Shelli D Rampold², Katherine Vasquez¹, Martie Gillen¹, Lauri M Baker²

Affiliations

¹ Department of Family, Youth and Community Sciences, College of Agricultural and Life Sciences University of Florida Gainesville Florida USA.
² Center for Public Issues Education in Agriculture and Natural Resources University of Florida Gainesville Florida USA.

Abstract

The COVID-19 pandemic brought grave financial concerns for families in the United States as they attempted to navigate the multifaceted impacts of the pandemic. The present descriptive study examined Florida families' employment characteristics, credit card debt, savings characteristics, use of savings based on employment and income variables, and patterns of use of the first 2020 economic impact payment during the early stages of the COVID-19 pandemic. Responses to an online questionnaire were collected from 526 Florida residents, age 18 or older, who were parents of minor children during the time the study was conducted. Findings are indicative of varying financial impacts on families based on gender, marital status, income level, and employment status related to COVID-19. Implications are presented for employers, educators, researchers, policymakers, and families.

Keywords: COVID‐19; credit; employment; income; saving; stimulus use.