According to a study carried out by ‘Urban Institute’, 4 in 10 American face hardships in striving to get their basic life needs, like food and housing. The report sheds light on the financial status of the Americans, as ten years have been passed since the economic recession. The reports also claim that middle-class families routinely struggle to pay their bills.
In the half century, the employment rate is the lowest, and the stock market has also enjoyed a better status. However, for many Americans, the incomes were unable to keep with the rising cost of the living. The money which they earned was not enough to give them a better lifestyle. The situation resulted in financial anxiety for many Americans. The only reason people strive to earn better is that they want necessities in life. The purpose of the job is not fulfilled if 4 out of 10 Americans are unable to meet their needs, completely.
The report elaborates that around 39 pc of Americans between the age of 18 to 65 years faced at least one type of material hardship last year. The rate of facing difficulties was the same as of the year 2017. The report explained that there was little relief regarding the financial challenges experienced by the U.S. adults last year. The report noted, to offset the cost of necessary expenses for protecting the families against the economic shock, further progress will be required to make additional policies to raise and stabilize the incomes.
The material hardship faced by Americans was being tracked by ‘Urban Institute’ in 2017, ahead of the time when cut-backs were implemented in federal safety-net programs. It’s the mandate of the think tank to conduct research every year to find out how American families are waging financially. The study was conducted through 7,500 adults, to check if each one of them was able to support himself economically or not.