In 2020, just over half of Black Americans skipped at least one payment in the past month due to increased financial vulnerability as a result of COVID-19. On the contrary, only 16 percent of White Americans said that they had to skip at least one payment. More than 60 percent of White Americans reported that they were able to pay all their bills over the past month.
Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race
Characteristic
Skipped at least one payment
Partially paid at least one bill
Paid in full
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McKinsey & Company. (July 30, 2020). Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/
McKinsey & Company. "Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race." Chart. July 30, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/
McKinsey & Company. (2020). Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/
McKinsey & Company. "Bill Payment Behavior of Consumers over The past Month during Covid-19 Pandemic in The United States in 2020, by Race." Statista, Statista Inc., 30 Jul 2020, https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/
McKinsey & Company, Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race Statista, https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/ (last visited July 22, 2024)
Bill payment behavior of consumers over the past month during COVID-19 pandemic in the United States in 2020, by race [Graph], McKinsey & Company, July 30, 2020. [Online]. Available: https://www.statista.com/statistics/1149294/consumer-bill-payment-behavior-covid19-usa-race/