According to the survey conducted by Federal Reserve Bank on Americans' economic well being at 2015, 76 million Americans are struggling financially. Even with the increase in wages, and reduction in unemployment, 31% of Americans are just getting by which is good news compared to
what it was two years earlier. CNNmoney.com reports. According to the FED survey, millions of Americans find it difficult to meet up with their bills.
The Fed survey highlights many of Americans' continuing economic worries. Some 46% of adults say they can't cover an unexpected $400 expense or would have borrow or sell something to do so.
While lower income Americans said they'd have the toughest time handling this emergency charge, some 38% of middle class Americans reported they'd have trouble too. Even 19% of those raking in over $100,000 a year said they couldn't pay the bill promptly.
About one-third of Americans also say that their income varies month-to-month, mainly because they have an irregular work schedule. Some 45% say their expenses shift each month. Some 42% of those with these volatile income streams or expenses say they struggled to pay the bills at least once in the past year.
Many Americans want to work more or are already holding down multiple jobs. Some 35% of those who are not self-employed said they'd prefer to work more hours (at their current wage). This was particularly true of lower-income respondents, non-Hispanic blacks, younger folks, Hispanics and and those with less education.
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