Amid falling inflation, recent signs show fewer Americans are living paycheck to paycheck

[Beachnutt]

CNBC
After leaning heavily on their paychecks as prices spiked over the last year, households are finally feeling some relief.

As of May, 57% of consumers said they were living paycheck to paycheck, down from 61% the month earlier, according to a new LendingClub report.
Workers last month saw their buying power improve for the first time in two years, as inflation eased off the pandemic-era peak.
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https://www.cnbc.com/2023/06/26/amid-falling-inflation-fewer-americans-live-paycheck-to-paycheck.html

[FalloutShelter]

1. Thank you President Joe Biden!

And our great Democrats!

[betsuni]

2. [phone]

[FalloutShelter]

5. Not enough zeros.

LOL

[Mysterian]

3. So nice to have adults in charge

Thanks President Biden!

[FalloutShelter]

6. So proud of our adulting.

[multigraincracker]

4. Under Biden, we have

Tripled our family income in the last year.

[Johnny2X2X]

7. Wage growth inflation

Right now, we're in that situation where wage growth exceeds price growth. Might only last a few months, but people are getting a little ahead, so these numbers aren't surprising.

Still, 57% is insanely high, that basically means half the country wouldn't know how to handle and unplanned $1000 expense except to probably go into further credit card debt. That;s no way to live year after year.

But Biden has done more to help the working class than any President since FDR, he's dismantling Trickle Down Economics piece by piece and that's what's leading to improvements like these.

[YoshidaYui]

8. That would not be me....

still living paycheck to paycheck, everything gone by the end of the month.

[calimary]

10. Hopefully things will improve for you over time.

The trends seem to be indicating that. And we do have a smarter, more compassionate, and better-informed President overseeing it all now, as opposed to a few years back.

[progree]

9. Employment Cost Index (considered best indicator of wages and salaries and the Fed's preferred

measure of such) --

https://www.democraticunderground.com/10143067288#post4


Although the last reading of real (meaning inflation-adjusted) wages and salaries is still 3.7% below the peak, and 3.4% below the Q1.2021 value, it has been beginning to turn up the in the last 2 quarters.

Coming soon ... The PCE inflation report comes out this Friday (the Federal Reserve's preferred indicator of inflation).