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Showing posts with the label Survey of Household Economics and Decision-making (SHED)

Survey of Household Economics and Decision-making. Jin Yingzi, Impact Investing Intern. American University

The 2019 Survey of Household Economics and Decision-making (SHED) interviewed over 12,000 individuals via an online survey launched in October 2019. To understand recent financial conditions and to see how circumstances for families have changed, the Federal Reserve Board also conducted a survey in April 2020 on the financial repercussions from COVID-19.

The initial response from the 2019 survey showed that overall economic well-being had improved substantially relative to the overall economic well-being in 2013, the last time a similar survey was conducted. But differences in financial well- being still remained and widened slightly, across education levels and across racial and ethnic groups. Changes in monthly family income were a main source of financial strain. Financial support from family members or friends is one income source used to cover expenses. Most people worked as much as they wanted to, but many adults wanted more full time work. Few adults performed gig activities a…