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Started By
Message
66% of American workers are worse off financially than a year ago
Posted on 10/19/22 at 9:09 am
Posted on 10/19/22 at 9:09 am
quote:
Rising costs have chipped away at most Americans’ standard of living.
As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance.
To make ends meet, many are dipping into their cash reserves or going into debt.
Nearly three-quarters, or 72%, of consumers have less in savings than last year, a jump from 55% who said the same in February, the report found. And 29% said they have wiped out their savings entirely. The report is based on a survey of 500 adults in August.
The consumer price index, which measures the average change in prices for consumer goods and services, rose more than expected again in September, still hovering near the highest levels since the early 1980s.
The rising cost of living is bad news for workers, whose average hourly earnings declined 0.1% for the month on an inflation-adjusted basis and are off 3% from a year ago, leaving more Americans living paycheck to paycheck.
Now, 32% of adults said they regularly run out of money between pay periods, according to Salary Finance.
LINK
How's the OT doing these days?
Posted on 10/19/22 at 9:12 am to RLDSC FAN
(no message)
This post was edited on 4/8/23 at 6:55 pm
Posted on 10/19/22 at 9:13 am to RLDSC FAN
This is fantastic news for the white liberal nation!!
Posted on 10/19/22 at 9:13 am to RLDSC FAN
quote:
Now, 32% of adults said they regularly run out of money between pay periods, according to Salary Finance.
I absolutely believe those stats every few months that get posted here that like half of Americans couldn’t afford a $1,000 emergency
Posted on 10/19/22 at 9:13 am to RLDSC FAN
retirement systems are taking a beating
Posted on 10/19/22 at 9:13 am to RLDSC FAN
Make that 100%
Inflation made all our money worth less
Inflation made all our money worth less
Posted on 10/19/22 at 9:14 am to fr33manator
I can only afford half a car.
Crazy times indeed.
Crazy times indeed.
Posted on 10/19/22 at 9:14 am to RLDSC FAN
quote:
How's the OT doing these days?
Happy to be part of the 34%.
Posted on 10/19/22 at 9:15 am to RLDSC FAN
Another round of Stimulus checks would fix that?
Posted on 10/19/22 at 9:17 am to RLDSC FAN
quote:
How's the OT doing these days?
We're buying a house. Closing is next Thursday. Rate 5.7% which I cringed at when we locked it, but it's looking better and better by the day.
I'm in a semi recession-proof career, and my wife still has unlimited OT. We currently pay $1700 for rent in one of those "cool" cities. We are moving to a small town in Indiana of 35,000 people. We can pay double mortgage payments each month with taxes/insurance/etc. and still pay less than what we are paying in rent right now.
So, we are doing okay. I am a little worried, because I'm unemployed until we move, but I have an interview lined up when we get to our new home, so that's a positive.
We are not in the 32% of people who run out of money. If we were, we'd find a way to cut back our spending. Gosh, 32% seems like a lot.
Posted on 10/19/22 at 9:20 am to Odysseus32
quote:
We are moving to a small town in Indiana of 35,000 people. We can pay double mortgage payments each month with taxes/insurance/etc. and still pay less than what we are paying in rent right now.
Damn 2x mortgage plus associated necessary costs for less than $1700/month!
Frkn call me a corn lovin son of a gun my arse is heading to Indiana!
Posted on 10/19/22 at 9:22 am to RLDSC FAN
quote:
How's the OT doing these days?
Still supporting our war in Ukraine it seems
Posted on 10/19/22 at 9:23 am to RLDSC FAN
the ONLY thing keeping me from being worse off is the 15% raise i got.
Posted on 10/19/22 at 9:24 am to Odysseus32
Good luck to you in your new home
Posted on 10/19/22 at 9:25 am to RLDSC FAN
quote:
two-thirds of working adults said they are worse off financially than they were a year ago
VOTE DEMOCRAT GUYS!!
Posted on 10/19/22 at 9:25 am to Saskwatch
quote:
Frkn call me a corn lovin son of a gun my arse is heading to Indiana!
The town is very boring, and the house is cheap. It's very much a starter home. Some fantastic aspects, but also 100 years old. We expect to pay for some issues the first few years. Big tree in the backyard with roots that I wouldn't be surprised if they have fricked with the sewer line.
We've spent five years in Boise, and if we've only learned one thing it's that if you want something of value, you have to give something of value. Nothing will ever be free. We'd like a low house payment, we give up the nice growing city with the new Micron manufacturing facility and great parks system. We will deal with everything that comes with the house and save a whole hell of a lot more money in the meantime.
Posted on 10/19/22 at 9:28 am to RLDSC FAN
All by design. Biden's economic plan is work as intended.
Posted on 10/19/22 at 9:53 am to RLDSC FAN
But no more meant tweets.
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