Record-high inflation is beginning to affect the majority of ordinary Americans’ standard of living this year.
More than two-thirds of workers, or 72 percent, admit that they are worse off financially than than in 2021, primarily due to higher prices, according to a report by Salary Finance.
This is an increase from the 55 percent making the same claim in February.
The rising cost of living is making more American households struggle to make ends meet and forcing millions to live paycheck to paycheck. Many families are even dipping into their cash reserves and are increasingly fearing going into debt, said the report.
“Across the board, American workers are struggling financially, regardless of gender, race, ethnicity, sexual orientation, or earnings; in fact, half of American workers making over $100,000 are worse off this year,” said Asesh Sarkar, CEO of Salary Finance….