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US Households in Better Financial Shape at End of 2021 Than Pre-pandemic

March 29, 2022

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Presented by Michigan News

A new report from U-M Poverty Solutions suggests that U.S. households were in a better financial position, on average, at the end of last year than in 2019, despite widespread joblessness and economic uncertainty during the COVID-19 pandemic. Patrick Cooney, assistant director of policy impact at Poverty Solutions, discusses the report’s key findings, including the broader context of the historic success of the COVID-19 pandemic economic recovery. Researchers also found that other measures of financial health, including credit scores and bank account balances, indicate U.S. households were in a strong position at the end of 2021.

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