USA TODAY: 5 signs Americans are flat-out broke

By | August 17, 2014

From USA TODAY

5 signs Americans are flat-out broke

Despite improvement in certain areas of the economy, the Great Recession never truly ended for millions of Americans. Households across the nation are still trying to overcome a sluggish labor market, stagnant wages, and rising living costs. Making matters worse, the struggle does not appear to be ending anytime soon. The Federal Reserve’s wealth effect is in short supply. According to a new report from the central bank, 25% of American households say their families are “just getting by” financially, and another 13% are “finding it difficult to get by.” Compared to five years earlier, 34% feel like they are worse off today, while the same number feel about the same. Only 30% report that they were somewhat or much better off financially. The survey polled more than 4,100 respondents between September and October last year.

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