About Six in 10 in US Concerned Pay Can’t Support Family, Survey Finds
2022.07.20 18:29
© Bloomberg. A shopper inside a grocery store in San Francisco, California.
(Bloomberg) — In the face of decades-high inflation, nearly six in 10 US workers are concerned their paycheck is not enough to support them and their family, a poll released Wednesday showed.
The tally was even higher among parents with children under 18, millennials and Hispanic workers, according to the American Staffing Association report. Among those employed, 58% said they plan to cut back on expenses in the next six months.
Inflation — now at a 40-year high — has driven up costs across the economy, forcing many families to make tough choices. Gas prices are near record highs and grocery bills continue to climb. Despite widespread pay raises, average hourly earnings adjusted for inflation were down 3.6% in June from a year ago, the most in records back to 2007.
The rise in prices has also driven workers to look for new work. More than a quarter of employed respondents said they plan to search for a new job with a higher salary, and a similar share plan to start a second job.
A separate survey from the US Census Bureau showed a similar picture, with roughly a third of Americans saying it was somewhat or very difficult to pay for their usual household expenses.
The survey was conducted online by the Harris Poll on behalf of ASA from June 2–6. It included responses from a total of 2,027 adults of whom 1,165 were employed.
©2022 Bloomberg L.P.
