He found a new job, but the drop in pay is draining his savings. - The New York Times

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When the pandemic hit, David Espy was working as a safety manager overseeing the construction of a resort hotel at Walt Disney World. But in mid-March, when virus-related shutdowns forced entertainment venues to close, Mr. Espy lost his job.

After being unemployed for one month, Mr. Espy was hired by a consulting company called Safety, Solutions and Supply.

The job pays Mr. Espy, 59, significantly less than his old one. Before the pandemic, he was making $125,000 a year. Now, he works roughly 12 hours a day, five days a week, and makes about $75,000.

“I would call myself underemployed,” he said. “I’m working at a reduced rate just to pay my bills.”

The new job does not pay him enough to cover his expenses, including two car loans and the mortgage on his house in Valrico, Fla., where he lives with his wife and a 20-year-old son. To make ends meet, he is spending $2,000 of his savings each month.

Mr. Espy said that at that rate, he would deplete his savings within nine months, and that he was worried about how to pay for his son’s college housing and books in the coming year.

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August 07, 2020 at 09:24PM
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He found a new job, but the drop in pay is draining his savings. - The New York Times
"pay" - Google News
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