29% of households have jobs but struggle to cover basic needs: They are 'one emergency from poverty,' one expert says

The number of households that live above the poverty line but are barely scrapping by is ticking higher.

Currently, nearly 40 million families are defined as ALICE, which stands for Asset Limited, Income Constrained, Employed.

By most measures, low-income households have been hardest hit, experts say. The lowest-paid workers spend more of their income on necessities such as food, rent and gas, categories that also experienced higher-than-average inflation spikes. "The ALICE households, in particular, have borne the brunt of inflation," said Greg McBride, chief financial analyst at Bankrate.com. "Even though we've seen wage growth on the low- to moderate-income scale, that's also where inflation has hit the hardest."has been a persistent problem since the Covid-19 pandemic, when price increases soared to their highest levels since the early 1980s.

Poverty Personal Debt Interest Rates Inflation Jerome Powell Personal Finance Breaking News: Investing Investment Strategy U.S. Economy Personal Loans Personal Saving Business News

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Seahawks News 4/29: Coach Macdonald might be Seattle’s most important pick this yearRead!
Source: FieldGulls - 🏆 66. / 68 Read more »

Community meetings in the San Fernando Valley area, April 29-May 6Find a book club, a neighborhood council board meeting, a veterans group, farmers markets plus fundraisers and volunteer opportunities.
Source: ladailynews - 🏆 332. / 59 Read more »

The best things to do this week in San Diego: April 29 to May 3This list of activities, concerts, sporting and cultural events, food festivals, theater performances and more is curated weekly by staff of The San Diego Union-Tribune.
Source: sdut - 🏆 5. / 95 Read more »

NYT Strands: answers for Monday, April 29Strands is a tricky take on the classic word search from NYT Games. If you're stuck and cannot solve today's puzzle, we've got help for you here.
Source: DigitalTrends - 🏆 95. / 65 Read more »

NYT Connections: hints and answers for Monday, April 29Connections is the new puzzle game from the New York Times, and it can be quite difficult. If you need a hand with solving today's puzzle, we're here to help.
Source: DigitalTrends - 🏆 95. / 65 Read more »

Wordle Today: Wordle answer and hints for April 29Trying to solve the Wordle today? If you're stuck, we've got a few hints that will help you keep your Wordle streak alive.
Source: DigitalTrends - 🏆 95. / 65 Read more »