Pandemic creating health, financial worries for 80% of Triangle residents, survey finds

RALEIGH – You are far from alone in being worried about your health or your job as a dark winter of COVID approaches,

In a year of political division, you can find unity across the Triangle when the subject is the continuing threat of the COVID-19 pandemic. A new survey finds that 80% or more of regional residents are worried about health and finances.

With unemployment rising and the number of COVID-19 cases surging, the consensus is bleak even as vaccines may be arriving soon.

Some 86% of people are concerned about the local economy, according to financial services firm Edward Jones.

Closings of local businesses worry 80% in the survey.

And 83% are worried that either they or family members will be hit by the coronavirus.

To put some perspective on the findings, take a look at findings in a recent Gallup survey: The Triangle numbers are higher in general than the national Gallup survey that found 24% of respondents said their lives had been disrupted a “great deal” while 46% cited a “fair amount.” Those worried about getting COVID stood at 56%, but that survey was taken before the recent surge in cases.

If you get sick …

The Edward Jones survey also found worries among well over half of survey respondents about healthcare:

Costs: (69%)
Quality: (64%)
Access:(57%)

Furthermore, consumers in Raleigh are most concerned with the cost of healthcare today compared to prior than the pandemic (69%), with another 64% concerned with the quality of healthcare and 57% concerned over the access to healthcare.

This new survey comes on the heels of two other reports that found growing frustration and worries among workers:

Edward Jones conducted the survey in the Triangle as well as a few other markets. On a positive note, the firm found that 80% of those surveyed are confident about their finances – at least for the short term.

‘Tremendous resilience’

Longer term, however, 44% believe they now are not confident about retirement

“This insight illustrates the very real hardships faced by many in our region. We know that finances and retirement plans of millions have been disrupted due to the COVID-19 pandemic,” said Brad McRae, a Financial Advisor for Edward Jones.

But McRae also said the survey found “tremendous resilience.”

“While circumstances are challenging, our clients and investors across the Raleigh region are showing tremendous resilience, in terms of their own personal economies, and in their ability to help fellow Raleigh residents. That type of resilience starts with a sound financial strategy,” he said.

The survey was conducted online Oct. 20-29 among 1,200 adults in Raleigh-Durham, Charlotte, Dallas, Kansas City, St. Louis and Toronto.