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The official unemployment rate was 4.4 percent in March 2020, up from 3.5 percent in February. That increase was the largest of any month since January 1975.
SNAP benefits supplement household incomes to help lift people out of poverty.
https://www.pgpf.org/chart-archive/0264_snap_supplements_income
“The coronavirus outbreak is an unprecedented national emergency, and we need to respond aggressively to address both the public health crisis and the economic risk,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
Debt levels have risen in many sectors of the economy.
Student debt is second only to mortgage debt.
https://www.pgpf.org/chart-archive/0221_student_debt_second_largest
Student debt has been rising steadily.
https://www.pgpf.org/chart-archive/0266_student_debt_is_rising
There is a high rate of child poverty in the United States compared to other developed countries.
The U.S. personal saving rate has fallen sharply over the past 50 years and remains low
The U.S. national saving rate has declined significantly since the mid-1960s.
Despite recent declines, U.S. household debt is still very high relative to disposable income.