Over 30% big city households depleted savings due to pandemic losses

More than three in 10 households in the four largest U.S. cities emptied their savings to survive the economic fallout due to the coronavirus, according to a new analysis.

“Millions of families in America are living paycheck to paycheck. There isn’t a lot of savings or a lot of wealth, so when you have superimposed on top of the daily struggles of life a major crisis like the COVID pandemic, you can see how it pushes many families over the edge,” said Richard Besser, CEO of the Robert…

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