{"642176":{"#nid":"642176","#data":{"type":"news","title":"Ivan Allen College Researcher Shows Many in U.S. Faced Economic Hardship Due to Covid-19 ","body":[{"value":"\u003Cp\u003ENew research has found that almost 25% of U.S. respondents experienced two of four types of deprivation due to the coronavirus pandemic.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EShatakshee Dhongde, associate professor of economics in the Ivan Allen College of Liberal Arts, analyzed results of the Federal Reserve Board\u0026rsquo;s Survey of Household Economics and Decision-Making to determine the multiple economic deprivations experienced by respondents. Her work was recently published in the open-access journal \u003Cem\u003EPLOS ONE\u003C\/em\u003E. Dhongde found that significant proportions of U.S. respondents were experiencing economic hardships even early in the Covid-19 pandemic, with Hispanic citizens being particularly affected.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;The paper highlights the plight of Americans during the early months of the economic crisis set in motion amid the coronavirus pandemic,\u0026rdquo; Dhongde said. \u0026ldquo;It sheds light on how economic disparities deepened along racial and ethnic lines.\u0026rdquo; \u0026nbsp;\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe pandemic triggered an unprecedented economic crisis in the U.S. Data from the Centers for Disease Control and Prevention shows more than 374,000 confirmed U.S. Covid-19 cases between April 3 and April 6. The Federal Reserve Board surveyed 1,030 U.S. respondents about their households. The survey compiled data on four indicators of economic deprivation: overall financial condition, loss of employment, reduction in income, and inability to pay bills in full.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EDhongde found significant deprivation among respondents, with almost 25% reporting hardships in at least two of the four indicators. One quarter of respondents saw their incomes fall compared to the previous month, and 13% were unable to pay their monthly bills.\u0026nbsp;Young adults and those without a college education experienced a disproportionate loss of economic well-being.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EShe also found that Hispanic respondents were experiencing significantly higher deprivation: over 37% of these respondents faced hardships in at least two of the four indicators, and 8% reported hardships in all four areas.\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;Going forward, it is urgent that we prioritize economic aid to vulnerable populations,\u0026rdquo; Dhongde added. \u0026ldquo;These individuals are experiencing multiple hardships, and, without immediate aid, they will not be able to sustain the economic shock of the pandemic.\u0026rdquo;\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003E###\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u003Cstrong\u003EAbout the Georgia Institute of Technology\u003C\/strong\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe Georgia Institute of Technology is a top ten public research university with 40,000 students who study in person at the main campus in Atlanta, at Georgia Tech- Lorraine, at Georgia Tech\u0026rsquo;s Shenzhen, China campus, as well as through distance and online learning. Students represent 50 states and 149 countries. Its Engineering and Computing colleges are the largest and among the highest-ranked in the nation, along with outstanding programs in Business, Design, Liberal Arts, and Sciences. With more than $1 billion annually in research awards across all six colleges and the Georgia Tech Research Institute (GTRI), Georgia Tech is among the nation\u0026rsquo;s most research-intensive universities. It is an engine of economic development for the State of Georgia, the Southeast and the nation. Georgia Tech\u0026rsquo;s mission is to develop leaders who advance technology and improve the human condition. Its mission and strategic plan are focused on making a positive impact in the lives of people everywhere. For more than 135 years the people of Georgia Tech have dared to imagine and then create solutions for a better future. The innovative culture and leadership continue, for progress and service for all. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026nbsp;\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":[{"value":"New research has found almost 25% of people surveyed experienced some form of deprivation due to the coronavirus pandemic. "}],"uid":"35059","created_gmt":"2020-12-16 19:38:12","changed_gmt":"2020-12-16 20:56:39","author":"Denise Ward","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2020-12-16T00:00:00-05:00","iso_date":"2020-12-16T00:00:00-05:00","tz":"America\/New_York"},"extras":[],"hg_media":{"642171":{"id":"642171","type":"image","title":"Covid-19 and the economy ","body":null,"created":"1608146699","gmt_created":"2020-12-16 19:24:59","changed":"1608146699","gmt_changed":"2020-12-16 19:24:59","alt":"","file":{"fid":"243963","name":"GettyImages-1223340371.jpg","image_path":"\/sites\/default\/files\/images\/GettyImages-1223340371.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/GettyImages-1223340371.jpg","mime":"image\/jpeg","size":1200650,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/GettyImages-1223340371.jpg?itok=4HwEM5xx"}}},"media_ids":["642171"],"related_links":[{"url":"https:\/\/journals.plos.org\/plosone\/article?id=10.1371\/journal.pone.0244130","title":"Research Article"}],"groups":[],"categories":[{"id":"129","name":"Institute and Campus"}],"keywords":[],"core_research_areas":[],"news_room_topics":[{"id":"71901","name":"Society and Culture"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003EDenise Ward\u003Cbr \/\u003E\r\n\u003Ca href=\u0022mailto:denise.ward@gatech.edu\u0022\u003Edenise.ward@gatech.edu\u003C\/a\u003E\u003C\/p\u003E\r\n","format":"limited_html"}],"email":["denise.ward@gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}