Share
Los Angeles Times
Despite a Booming Economy, Many U.S. Households Are Still Just Holding On
Many U.S. households find themselves in a fragile position financially, even in an economy with an unemployment rate near a 50-year low, according to a Federal Reserve survey.
The Fed’s 2018 report on the economic well-being of households, published Thursday, indicated “most measures” of well-being and financial resilience “were similar to, or slightly better than, those in 2017.” The slight improvement coincided with a decline in the average unemployment rate to 3.9% last year, from 4.3% in 2017.
Despite the uptick, however, the results of the 2018 survey indicated that almost 40% of Americans would still struggle in the face of a $400 financial emergency. The statistic, which was a bit better than in the 2017 report, has become a favorite rejoinder to President Trump’s boasts about a strong economy from Democratic politicians, including 2020 presidential candidate Sen. Kamala Harris of California.
By Matthew Boesler | 23 May 2019
RELATED TOPICS:
Does Dill Have Magical Powers? What People Once Believed Food Could Do
14 hours ago
Let’s Keep Innovative Partnerships Crucial to Combating Climate Change: Fresno Dairy Manager
15 hours ago
No Matter the Outcome, We Are the True Losers of This Election
1 day ago
Russia’s Swift March Forward in Ukraine’s East
1 day ago
AMOR Wellness Trunk-or-Treat Brings 700 Mendota Residents Together for Halloween Fun
1 day ago
From Blue Cheese to Bacon: Peanut Butter Pairings That Will Shock You