Issue link: https://nebusinessmedia.uberflip.com/i/1512597
8 | COMMUNITY IMPACT REPORT 2023 | UNITED WAY OF CENTRAL AND NORTHEASTERN CONNECTICUT W hen COVID hit, I worked at a law firm in Farmington. It was a foreclosure law firm, and they closed [due to national eviction moratoriums]. I [found myself] stuck at home with a newborn," recalls Tiffany Ferrer. Tiffany is one of countless people in our community who experienced job loss during the pandemic. As a wife and mother of three, being down a steady stream of income during such uncertain times was, understandably, difficult and scary. We heard from many families during this period who detailed the difficult decisions they were forced to make, such as: falling behind on utility bills, forgoing health care, child learning loss and navigating food insecurity. And, the emotional anguish from being forced to make these tough choices was exacerbated by social isolation. Financial Hardship Persists; United Way's Network Offers Hope IMPACT ON FINANCIAL SECURITY recent inflation, it has been determined that a family of four needs to earn at least $117,000 in 2023 to afford the basics. This income exceeds the Federal Poverty Level ($30,000) nearly four times. The cost of household essentials remains out of reach for more than one-third of all households in our region, despite wage increases in the private sector. This year's ALICE Report confirmed what many of us predicted – the pandemic set Connecticut families behind financially. More than 10,000 families in our region alone fell below the ALICE Threshold since we published our previous report in 2020. United Way's network is uniquely positioned to provide immediate, holistic support when times get tough. Through the ALICE Report, we were able to track data trends and can Financial insecurity has long been a complex, nuanced issue impacting our community, our state and our nation. Recognizing this, the United Way network stepped up more than one decade ago to dive deeper into the financial struggles American families face day-to-day. Every two years, Connecticut United Ways join United Ways across the country to conduct a financial hardship study called the ALICE Report (Asset Limited, Income Constrained, Employed). This year, this data-driven, comprehensive research offered an important opportunity to understand who is struggling and why; and, the specific ways COVID-19 has impacted our economy. In its fifth edition, the latest ALICE Report shows that 39 percent of households in central and northeastern Connecticut continue to live below the ALICE Threshold - the income necessary to live and work in this economy. These families could be living above or below the Federal Poverty Level, oftentimes are working essential jobs, yet are still not earning enough to make ends meet. An additional tool paired with the report is the ALICE Essential Index (AEI), which measures the change in household costs over time. The AEI provides the numbers to create a household survival budget that reflects a conservative average cost for a variety of family makeups, such as a single person or a family of four with two adults, one infant and one toddler. With updated data inclusive of Scan here to hear Tiffany share her story in her own words. "