Americans haven’t felt this lousy about their finances since the Great Recession. When asked about their financial circumstances, half of Americans said they were worse off now than they were a year ago, according to a new poll.
Americans haven’t felt this lousy about their finances since the Great Recession.
Prices are displayed in a grocery store on February 01, 2023 in New York City. Wages for workers in most major U.S. cities grew at a slower pace in the final three months of 2022, with inflation still outstripping pay for many workers. A larger share of lower-income Americans were pessimistic about their money situation this year.
“We saw a program that almost cut child poverty in half and then we didn't continue it. That’s significant.” Ain said. “People are feeling the tightness in their wallets, the tightness in their budget, and I think that increase in grocery bill is palpable. People are thinking how is this going to get better? I know stock prices are important, but that's not something that impacts our low-income families.
A chart shows the day's losses above the floor of the New York Stock Exchange shortly after the closing bell in New York, U.S., February 2, 2018. REUTERS/Lucas Jackson“It can feel scary retiring into a possible recession and down market,” Kirchenbauer added.
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