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August 08, 2020 at 03:30 PM
With some 4 million confirmed cases and 150,000 deaths from the COVID-19 pandemic, is the U.S. facing worse economic and mental health consequences from the pandemic than other wealthy nations?
That’s a question the Commonwealth Fund asked this week in a report.
The survey finds that 31% of American adults have faced negative economic effects from the pandemic, including being unable to pay for basic necessities, using up most personal savings, or borrowing money or taking out a loan.
This compared with 24% in Canada and 21% in Australia. In contrast, only 6% of German and 7% of Dutch adults report having negative effects.
In addition, 27% of Americans and 26% of Australians have lost a job or a source of income when businesses closed to limit the virus’s spread, while just 7% of French and German respondents report the same.
The study also finds that economic woes caused adults in several wealthy countries to experience stress, anxiety, and/or great sadness that was difficult to cope with alone. The U.S. leads with 56% of adults, followed by the U.K. at 53%, and Australia and Canada at 50% each.
