With a likely recession and potentially stagflation on the horizon, I suspect many more families will join us as DUPs: Dual Unemployed Parents. Mass layoffs and company shutdowns will ripple through the economy.

According to USA Facts, there were approximately 38 million single-income households in 2022. According to the Bureau of Labor Statistics, there were about 10.9 million one-parent family groups with children under 18 in 2022. While the exact number of single-income households with children is not directly reported, this figure highlights the prevalence of single-parent families.

The quick math highlights that if 5% – 10% of them get laid off in the next recession, we’re talking an increase of at least 550,000 to 1.09 million new involuntary DUPs. Given there are plenty of households who co-habitate and are not officially married, the numbers are likely higher.

To help households who might find themselves in a similar situation,

Keep reading this article on Financial Samurai.