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

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.