A National True Cost of Living Coalition study found that over 66% of middle-class Americans are experiencing economic difficulties and do not expect their financial situation to improve for the rest of their lives.
Despite the US economy being healthy, with strong performance in employment, housing, and stock markets, the data does not accurately represent the financial instability experienced by many households.
The study surveyed 2,500 adults, and 65% of those earning more than 200% of the federal poverty threshold reported financial difficulties.
A significant proportion of affluent Americans also experience financial insecurity, with 25% of those earning more than five times the federal poverty threshold expressing concerns over their ability to meet financial obligations. About 60% of respondents now report financial hardship. Jennifer Jones Austin, CEO of the Federation of Protestant Welfare Agencies, emphasized that despite the thriving economy, many Americans are still struggling financially, lacking the capacity to strategize for future requirements.
Despite the US economy being healthy, with strong performance in employment, housing, and stock markets, the data does not accurately represent the financial instability experienced by many households.
The study surveyed 2,500 adults, and 65% of those earning more than 200% of the federal poverty threshold reported financial difficulties.
A significant proportion of affluent Americans also experience financial insecurity, with 25% of those earning more than five times the federal poverty threshold expressing concerns over their ability to meet financial obligations. About 60% of respondents now report financial hardship. Jennifer Jones Austin, CEO of the Federation of Protestant Welfare Agencies, emphasized that despite the thriving economy, many Americans are still struggling financially, lacking the capacity to strategize for future requirements.
