As President-elect Joe Biden formally introduces his economic team on Tuesday, there’s a long list of financial challenges facing many families.
Logan Rockefeller Harris, a senior policy analyst with the NC Budget and Tax Center, says North Carolina entered the pandemic with more than 1.4 million residents in poverty.
COVID-19 has also magnified gender inequalities in the labor market in unprecedented ways, with women in North Carolina being far more likely to file for unemployment than men, according to Harris.
As the Budget and Tax Center explains in a new report:
Economic insecurity is not an uncommon experience — almost 60 percent of Americans will experience poverty at some point in their adult life, and more than 3 in 4 will spend at least one year below 150 percent of the poverty level. But mass unemployment caused by the COVID-19 pandemic, combined with a total lack of sustained government response, has pushed levels of hardship to new extremes.
How should the new administration, Congress, and the North Carolina legislature address this daunting challenge?
Listen to Rob Schofield’s full interview with Harris below and read the Center’s 2020 Poverty Report.