The outbreak, which brought daily life to a standstill, was a financial storm for households across the globe. In Germany, many employees went to short-time work, while others suffered from unemployment during the pandemic lockdown. Thanks to relatively cautious private consumption compared to household income during regular times, German households are financially resilient to income shocks by and large. Besides, high saving rates and generous unemployment and short-time work benefits help many Germans to overcome income shock triggered by the first corona shutdown. That said, single parents in Germany are particularly vulnerable and will be able to cover their expenses like in regular times up to four months at most if they face short-time work or unemployment
