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Lower Income Households

All articles tagged with #lower income households

economy2 years ago•2 min saved

Pandemic Spurs Faster Wealth Growth for Middle-Class and Lower-Income Americans

Lower-income and middle-class households in the United States experienced a faster growth in net worth compared to higher-income households during the early stages of the Covid-19 pandemic, according to a report by the Pew Research Center. Factors contributing to this growth include government relief packages, increased home prices, and a rebound in stock prices. However, despite these gains, poorer households still faced significant debt, and the financial improvements may not be sustained as incomes fell and household spending increased in 2022. Additionally, other reports indicate that lower-income Americans, particularly children, experienced a rise in poverty levels in 2022.

via CNN|

#economy #lower-income-households #middle-class

finance2 years ago•4 min saved

AP-NORC poll reveals financial strain on low-income households.

A new poll from The Associated Press-NORC Center for Public Affairs Research shows that personal finances are a major source of stress for about half of the lower income households in the U.S. About three-quarters of adults across income groups say their household expenses are higher now than they were a year ago, but those in households earning less than $100,000 a year are more likely than those in higher income households to say they also have higher debt. Those facing a combination of rising debt and expenses overwhelmingly say their financial situation is a major source of stress.

via The Associated Press|

#debt #expenses #finance