The impact that COVID-19 has had on humanity cannot go
unnoticed. It is clear as day that the year, 2020, will go down in the history
books for not very good reasons. People cannot ignore this pandemic as the
constant reminders from the news channels, and people wearing protective masks
makes it hard. COVID-19 has impacted not only human lives but also the economy
heavily due to which many people are suffering from a financial crisis.
Naturally, people who are stuck at home and concerned about their finances turn to Google for some answers. There are millions of people who have lost their jobs in this current pandemic and are now relying on the US government to aid their finances. However, that is certainly not enough, and the search trends of Google shows how many Americans are worried about their financial situation.
The Google statistics made it evident that the majority of
the Americans are worried about their financial situation and their financial
future as the search trends rises related to finances and financial aid for
their mortgage. It was also seen that the people are looking for some financial
literacy with the finance courses were searched 200% times more.
Americans are facing problems in paying their monthly
mortgage and are turning to Google to find some financial aid that can help
them in paying off their mortgage. The terms like mortgage, deferment and
forbearance peaked in the first few days of the lockdown. May 2020 trends saw a
significant increase in the term “rent and mortgage cancellation act” as it was
searched 5000 times more than April. This act was passed for the temporary
elimination of mortgage payments on primary residence during the national
emergency. Oregon, Washington, Colorado, Virginia, and New Mexico were the
states that that were more concerned about their mortgage situation.
Food is also a big concern among the Americans, and the need
for the basic food necessities and groceries have reflected on the Google
search trends. A nonprofit organization, Feeding America, has estimated a need
for $1.4 billion additional resources in the next six months. The shelves in
the superstores are becoming empty with no new supplies coming in. It is a big
concern, and an estimated 46% of Americans may face a food crisis in the coming
days. Searches show that people are demanding food.
Here is an infographic that shows the analysis of search
trends during the pandemic, and it shows the financial unpreparedness that we
have on our hands.
Infographic by: moneycrashers.com
