“I feel very grateful.”If there’s something positive about the pandemic, it’s that it has strengthened some family ties, though not always happily. “This is the biggest labor market shake-up in a century,” said Ben Harris, a co-author of the Brookings report and a professor at the Northwestern University Kellogg School of Management. What if breadwinners can’t go back to work?”In addition to the labor market damage, there’s little question that the pandemic has already hurt retirement savers in the past year. Not surprisingly, the social disruption — aggravated by job losses, halts in retirement savings and health-related employment interruptions — has created a great deal of financial stress. The top three stressors, respondents said, were lack of emergency savings, job security and income fluctuations.

Source: New York Times September 06, 2020 09:00 UTC