Eviction Crisis Looms For Low-Income Americans Hit Hardest By Pandemic’s Economic Devastation
Experts predict an avalanche of evictions across the country. Even before the current joblessness crisis, eviction was troublingly common in America. Researchers estimate that about 3.7 million eviction cases were filed in 2016, a year when the unemployment rate was 4.7 percent. It's now closing in on 15 percent. Other news on the economy focuses on credit card fraud and jobless benefits.
The New York Times:
An ‘Avalanche Of Evictions’ Could Be Bearing Down On America’s Renters
The United States, already wrestling with an economic collapse not seen in a generation, is facing a wave of evictions as government relief payments and legal protections run out for millions of out-of-work Americans who have little financial cushion and few choices when looking for new housing. The hardest hit are tenants who had low incomes and little savings even before the pandemic, and whose housing costs ate up more of their paychecks. They were also more likely to work in industries where job losses have been particularly severe. (Mervosh, 5/27)
The Wall Street Journal:
Borrower, Beware: Credit-Card Fraud Attempts Rise During The Coronavirus Crisis
Fraudsters are increasingly using pilfered credit-card numbers and phishing attacks to prey on overwhelmed consumers and banks during the coronavirus pandemic. There has been a big jump in attempted credit- and debit-card fraud since coronavirus shut down the U.S. economy earlier this year, according to Fidelity National Information Services Inc., known as FIS, which assists about 3,200 U.S. banks with fraud monitoring. The dollar volume of attempted fraudulent transactions rose 35% in April from a year earlier, FIS said, a trend that appears to be continuing in May. (Andriotis and McCaffrey, 5/27)
WBUR:
For Many, $600 Jobless Benefit Makes It Hard To Return To Work
In addition to risking infection with COVID-19, going back to work would also mean a cut in pay for [Lainy] Morse. Thanks to the extra $600 a week in unemployment benefits the federal government has been offering during the pandemic, Morse and her fellow teachers are making more now than they did on the job. (Horsley, 5/26)
