Meanwhile, 25% US families say they are ‘just getting by’
9 Aug 2014 6:35 AM IST
Not quite an American dream! Many Americans are struggling financially more than five years after the recession with a quarter of the families saying they were ‘just getting by’, according to US Federal Reserve data.
As of September 2013, when the central bank conducted the poll, a quarter of families said they were ‘just getting by,’ while an additional 13 per cent struggling to make ends meet.
Asked to compare their current financial situation with how they were faring five years ago, as the housing crash was wreaking havoc on the economy, 34 per cent of respondents said they were doing ‘somewhat or much worse’ than in 2008. The same percentage reported essentially treading water, while 30 per cent said they were doing better.
The Fed found that more than 60 per cent of US families were either ‘doing OK’ or ‘living comfortably’, CBS News reported.
As of September 2013, when the central bank conducted the poll, a quarter of families said they were ‘just getting by,’ while an additional 13 per cent struggling to make ends meet.
Asked to compare their current financial situation with how they were faring five years ago, as the housing crash was wreaking havoc on the economy, 34 per cent of respondents said they were doing ‘somewhat or much worse’ than in 2008. The same percentage reported essentially treading water, while 30 per cent said they were doing better.
The Fed found that more than 60 per cent of US families were either ‘doing OK’ or ‘living comfortably’, CBS News reported.
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