Lower-Income Americans Struggle Amidst Rising Costs
Update: 2025-11-17
Description
Lower-income Americans face a growing financial struggle, with nearly one-third now living paycheck to paycheck and spending over ninety-five percent of their income on basic needs. The nations inflation rate has risen to three percent annually, exacerbating the situation for many families. Economist Joe Wadford highlights the widening gap between earnings and expenses, with wages for lower-income households only increasing by one percent over the past year. This slow growth, combined with a decline in job openings, is contributing to a K-shaped economy, where wealthier Americans are thriving while those with lower incomes face increasing financial strain.
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