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As inflation rises, many Americans are living on paychecks to pay


Inflation has been causing economic difficulties for workers of all income levels.

As of June, 61% of Americans – about 157 million adults – living wages to pay wages, according to a new newspaper LendingClub . Report. This is up from 58% of those reporting a living wage in May. A year ago, 55% of adults felt stretch marks were too thin.

The report shows that even the top earners are struggling to make ends meet. Among those earning $200,000 or more, 36% said the salary was living enough to pay off, a huge jump from the previous month. (A recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more indicate they are living on paycheck to paycheck.)

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Inflation is an ongoing problem

Another important inflation gauge, the Personal Consumption Price Index, which measures the change in prices of goods and services consumed by all households, also up 6.8%biggest move in 12 months since 1982.

All in all, Americans are spending more money to cover their monthly expenses, making it increasingly difficult to make a living. As a result, they dip into their cash reserves and Almost half is deeply in debt.

Among all consumers, average savings fell to $10,757 in June from $11,274 in May, LendingClub also found.



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