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