Inflation is cooling, yet many Americans say they're living paycheck to paycheck
Inflation is cooling, yet many Americans say they're living paycheck to paycheck
A Bankrate survey found that one-third of Americans say they're living paycheck to paycheck and have little money for savings.
Even as inflation continues to cool into the second half of 2024, many Americans say they're still struggling to make ends meet.
Roughly one-third of U.S. workers say they're living paycheck to paycheck and have nearly no money for savings after paying their monthly bills, according to a survey from personal finance website Bankrate.
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Inflation can cool down all it wants, it's reported year on year so prices are still much higher than 5 years ago while wages haven't increased, deflation or huge wage increases would be necessary to make it so people would have their purchasing power back.
Wages are outpacing inflation, there's just a lot of catching up to do.
https://www.epi.org/blog/average-wages-have-surpassed-inflation-for-12-straight-months/
% change is a pretty wild metric. It becomes unwieldy at longer time spans, and does a pretty poor job at comparisons.
Can we get like wages vs cost of living, or rent/mortgage as a percentage of income?
No because that wouldn't make things look good
What I linked was wage growth vs inflation, especially among generally lower paid workers (hourly).