(The Center Square) – A recent survey shows how Americans feel about the economic situation during and after the pandemic.
The website WalletHub examined people’s thoughts on travel and dining, and how soon the country will recover financially.
Over 700,000 Illinoisans were receiving unemployment insurance in late June. Analyst Jill Gonzalez said respondents believe the employment situation will not turnaround anytime soon.
“When we asked about unemployment numbers, almost 80 percent of Americans think that unemployment will not return to normal until at least the end of 2021, if ever,” said Gonzalez.
The survey also asked about taxes.
Gov. J.B. Pritzker is going forward with his progressive income tax proposal which includes a $3.7 billion tax increase. He previously said: “We need it now more than ever.”
Gonzalez said the majority of respondents are not in favor of a tax hike.
“About a third of Americans think tax rates should increase to cover the cost of the coronavirus pandemic, so that means about 70 percent of Americans would not like that,” Gonzalez said.
Travel and dining will continue to take a hit until there is a vaccine. Nearly 4 in 10 respondents won’t feel comfortable getting on an airplane until there is a vaccine, and 27% won’t feel comfortable staying in a hotel.
Last week Illinois allowed dine-in at restaurants, but only at 25% capacity. The survey revealed 21% won’t feel comfortable dining out until there is a vaccine.