Three-quarters of Americans expect coronavirus to hurt their income

Nearly three in four Americans expect their incomes to suffer as a result of the coronavirus crisis, a new survey shows.

Some 74 percent of people in the US say the pandemic will affect their household income or already has, according to Kantar’s survey of the Group of Seven countries released Wednesday.

Such concerns are more widespread only in Italy and Canada, where 82 and 76 percent of respondents expect their household incomes to take a hit, respectively, the market research firm found. The rate is 70 percent across the G7 nations, which also include Great Britain, Germany, France and Japan.

The pandemic has forced several countries, including parts of the US, to shut down large parts of their economies to stem the spread of the deadly virus. The resulting business closures, mass layoffs and reduced consumer spending have sparked fears about the global economy entering a recession.

Despite those concerns, Kantar found that a majority of people in the G7 countries — including 53 percent in the US — approve of how their national government has handled the crisis. Japan was the exception — only 35 percent of respondents there approved of the government response, while 30 percent disapproved, 30 percent had a neutral view and 4 percent didn’t know how to answer.

“This new understanding of how supportive and compliant citizens are across the G7 to government recommendations is crucial for policy to be able to respond and societies to be able to recover sustainably,” Michelle Harrison, global CEO of Kantar’s public division, said in a statement.

Some 89 percent of Americans believe closing bars, restaurants and other establishments is an effective way of reducing the virus’ spread, and 82 percent say the same for restricting non-essential movement outside the home, the survey found. But only 70 percent say they’re avoiding visits to restaurants, cafes and pubs, while only 64 percent are self-isolating at home, the results show.

Kantar’s survey is based on online interviews of 7,005 people age 16 and older, including 1,000 in the US, between March 19 and 21. The country-level percentages have a standard margin of error of three to four percentage points, according to the firm.

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