Middle-income Americans are feeling the squeeze
A Pew Research Center survey indicates that middle-income Americans are increasingly struggling to save money and cover emergency expenses. Rising inflation and stagnant wages have forced a majority of households to cut back on discretionary spending.
Why it matters
The financial strain on the middle class is a critical economic indicator that often influences voter sentiment and political outcomes during election cycles.
A Pew Research Center survey found 71% of middle-income earners have cut back on spending on extras, such as eating out. andresr/Getty Images A Pew Research survey found only 47% of middle-income earners could save money in the past year. Lower-income earners are also having a hard time saving and affording necessities. Inflation moving in the wrong direction doesn't help the affordability situation. America's middle earners are feeling the squeeze. A new analysis from the Pew Research Center examines how Americans' finances are faring, an especially salient topic in a midterm season where affordability is very much on the ballot. America's middle earners — those who make between $50,700 and $152,000 after adjusting for their family sizes and the cost of living in their areas — increasingly don't have enough saved for an emergency.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in