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4358 Federal Register/Vol. 87, No. 18/Thursday, January 27, 2022/Rules and Regulations
<br /> half of low-income,Black, and Hispanic through,among other factors, damaged entire industry was impacted, 72
<br /> parents reported difficulty covering consumer credit scores 99 and reduced percent of the job losses occurred in the
<br /> costs related to food,housing,utility,or familial and childhood wellbeing.100 lowest wage service occupations
<br /> medical care.93 Over the course of the These potential long-term economic compared to only a 6 percent rate of job
<br /> pandemic,inequities also manifested consequences underscore the continued loss in the highest wage management
<br /> along gender lines, as schools closed to need for robust policy support. and finance jobs.106 Similar trends exist
<br /> in-person activities,leaving many Low-and moderate-income in other heavily impacted industries. In
<br /> working families without childcare households,those with income levels at public education,the lowest wage
<br /> during the day.94 Women of color have or below 300 percent of the federal occupations, service and transportation
<br /> been hit especially hard: The labor force poverty level (FPL),face particular jobs, saw a job loss rate of 20 and 26
<br /> participation rate for Black women has hardships and challenges. These percent,respectively.107 During that
<br /> fallen by 3.6 percentage points 95 during households report much higher rates of same time period,the highest wage
<br /> the pandemic as compared to 1.3 food insecurity and housing hardships occupations in public education,
<br /> percentage points for Black men 96 and than households with higher incomes. management, actually saw jobs increase
<br /> 1.7 percentage points for White For example,households with incomes by 7 percent.108
<br /> women.97 at or below 300 percent FPL are several While many households suffered
<br /> As the economy recovers,the effects times more likely to have reported negative economic outcomes as a result
<br /> of the pandemic-related recession may struggling with food insecurity of the COVID-19 pandemic and
<br /> continue to impact households, compared to households with income economic recession,households with
<br /> including a risk of longer-term effects on above 300 percent FPL.101 Similarly, low incomes were impacted in
<br /> earnings and economic potential. For low-and moderate-income households disproportionate and exceptional ways.
<br /> example,unemployed workers, reported being housing insecure 102 at From January 2020 to March 2021, low-
<br /> especially those who have experienced rates more than twice as high as higher- wage workers experienced job loss at a
<br /> longer periods of unemployment, earn income households,and low-and rate five times higher than middle-wage
<br /> lower wages over the long term once moderate-income households reported workers, and high-wage workers
<br /> rehired.98 In addition to the labor housing quality hardship 103 at rates actually experienced an increase in job
<br /> market consequences for unemployed statistically significantly greater than opportunities.109 Because workers in
<br /> workers,recessions can also cause the rate for higher-income low-income households were more
<br /> longer-term economic challenges households.104 The economic crisis likely to lose their job or experience
<br /> caused by the pandemic worsened reductions in pay,those same
<br /> 93 Michael Karpman,Dulce Gonzalez,Genevieve economic outcomes for workers in many households were also more likely to
<br /> M.Kenney,Parents Are Struggling to Provide for low-and moderate-income households. experience economic hardships like
<br /> Their Families during the Pandemic,Urban Industries that employed low-wage trouble paying utility bills,affording
<br /> Institute(May 2020),https://www.urban.orgl workers experienced a disproportionate
<br /> research/publication/parents-are-struggling- prent or mortgage payments,purchasing
<br /> level of job loss. For example,from
<br /> provide-their families-during-pandemic?utm_ food,and paying for medical
<br /> source=urban_ br researcherutm_ February 2020 to February 2021,the expenses.110 The disproportionate
<br /> medium=email&utm_campaign=covid_ hospitality and leisure industry lost negative impacts the pandemic has had
<br /> parents£rutm_term=lhp. nearly3.5 million'obs.105 While the
<br /> 94 Women have carried a larger share of childcare on low-income families extend beyond
<br /> responsibilities than men during the COVID-19 financial insecurity. For example,low-
<br /> crisis.See,e.g.,Gema Zamarro&Maria J.Prados, 99 Chi Chi Wu,Solving the Credit Conundrum:
<br /> 1 income families have reported higher
<br /> Gender differences in couples'division of Helping Consumers'Credit Records Impaired by the
<br /> Foreclosure Crisis and Great Recession,National levels of social isolation,stress,and
<br /> childcare,work and mental health during COVID—
<br /> 19,Rev.Econ.Household 19:11-40(2021), Consumer Law Center(Dec.2013),https:// other negative mental health outcomes
<br /> available at https://link.springer.com/article/ www.ncic.org/images/pdf/credit reports/report- during the pandemic.While over half of
<br /> 10.1007/s11150-020-09534-7, credit-con d all U.S. adults report that their mental
<br /> •Titan Alon et al. The p
<br /> Impact of COVID-19 on Gender Equality,National 100Irwin Garfinkel,Sara McLanahan,Christopher health was negatively affected by the
<br /> Bureau of Economic Research Working Paper 26947 Wimer,eds.,Children of the Great Recession,
<br /> (April 2020),available at https://www.nber.org/ Russell Sage Foundation(Aug.2016),available at pandemic,adults with low incomes
<br /> papers/w26947. https://www.russellsage.org/publications/children- reported major negative mental health
<br /> 95 U.S.Bureau of Labor Statistics,Labor Force great-recession. impacts at a rate nearly twice that of
<br /> Participation Rate-20 Yrs.&Over,Black or African 101 Kyle J.Casewell and Stephen Zuckerman, adults with high incomes."'
<br /> American Women[LNS11300032],retrieved from Food Insecurity,Housing Hardship,and Medical
<br /> FRED,Federal Reserve Bank of St.Louis;https:// Care Utilization,Urban Institute(June 2018),
<br /> fred.stlouisfed.org/series/LNS11300032(last visited available at https://www.urban.org/sites/default/ 2021),available at https://www.epi.org/publication/
<br /> December 7,2021). files/publication/98701/2001896 foodinsecurity_ swa-2020-employment-report/.
<br /> 96 U.S.Bureau of Labor Statistics,Labor Force housinghardship_medicalcareutilization_ 106Id.
<br /> Participation Rate-20 Yrs.&Over,Black or African finalized.pdf. 107Id.
<br /> American Men[LNS11300031],retrieved from 102 Housing insecurity is defined as not paying 108Id.
<br /> FRED,Federal Reserve Bank of St.Louis;https:// the full amount of rent or mortgage and/or utility 109 R.Chetty,J.Friedman,N.Hendren,M.
<br /> fred.stlouisfe,d.org/series/LNS11300031(last visited bills(gas,oil,or electricity)sometime in the Stepner,&Team,T.O.I.,The Economic Impacts
<br /> December 7,2021). previous 12 months. of COVID-19:Evidence from a New Public Database
<br /> 97 U.S.Bureau of Labor Statistics,Labor Force 103 Housing quality hardship is defined as an Built Using Private Sector Data(No.w27431;p.
<br /> Participation Rate-20 Yrs.&Over,White Women affirmative response to one or more questions w27431)(2020),National Bureau of Economic
<br /> [LNS11300029],retrieved from FRED,Federal related to problems with a respondent's physical Research.https://doi.org/10.3386/w27431.
<br /> Reserve Bank of St.Louis;https://fred.stlouis dwelling:Pests and/or insects;leaking roof or 110 M.Despard,Michal Grinstein-Weiss,Yung
<br /> fed.org/series/LNS11300029(last visited December ceiling;windows that are broken or cannot shut; Chun,and Stephen Roll,COVID-19 job and income
<br /> 7,2021). exposed electrical wires;broken plumbing(toilet, loss leading to more hunger and financial hardship,
<br /> 98 See,e.g.,Michael Greenstone&Adam Looney, hot water,other);holes in walls,ceiling,or floor; Brookings Institute(July 13,2020),https://
<br /> Unemployment and Earnings Losses:A Look at no appliances(refrigerator or stove);and no phone www.brookings.edu/blog/upfront/202O/07/l3/
<br /> Long-Term Impacts of the Great Recession on (of any kind). covid-19 job-and-income-loss-leading-to-more-
<br /> American Workers,Brookings Institution(Nov.4, 104Id. hunger-and financial-hardship/.
<br /> 2011),https://www.brookings.edu/blog/jobs/2011/ 105 Elise Gould and Melat Kassa.Low-wage,low- 111 N.Panchal,R.Kamal,C.Munana,&P.
<br /> 11/04/unemployment-and-earnings-losses-a-look- hours workers were hit hardest in the COVID-19 Chidambaram,The Implications of COVID-19 for
<br /> at-long-term-impacts-of-the-great-recession-on- recession:The State of Working America 2020 Mental Health and Substance Use,Kaiser Family
<br /> american-workers/. employment report,Economic Policy Institute(May Foundation(February 10,2021),https://
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