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Bolstered Balance Sheets: Assessing Household Finances since 2019

By: Mitchell Barnes, Wendy Edelberg, Sara Estep, Moriah Macklin
March 22, 2022
Economic Security & Inequality, Healthy Economy
Full Paper

A Hamilton Project analysis on how household balance sheets have evolved since the onset of the COVID-19 pandemic finds that, in aggregate, households’ financial positions in 2022 are remarkedly improved relative to 2019.

The improvements to household finances stand in stark contrast to the years following the Great Recession. This is a testament to the support households received through robust federal benefits, to the strength of the housing and stock markets, and in more recent months, to the recovery of labor-market income. Despite the overall strength of aggregate households’ financial positions, significant challenges remain due to rising inflation and long-standing inequities.

Full PaperpdfOne-pagerpdfTechnical Appendixpdf

Related Links

11 Facts on the Economic Recovery from the COVID-19 Pandemic
The Way Back: Assessing Economic Recovery Among Black Americans During COVID-19
Women, Work, and Families: Recovering from the Pandemic-Induced Recession

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Authors

Mitchell Barnes

Former Research Analyst

Wendy Edelberg

Director

Sara Estep

Former Research Analyst

Moriah Macklin

Former Senior Research Assistant

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