Don't Write Off This Latest Threat

Seventy-six percent of American workers live paycheck to paycheck, according to Bankrate.com. If that doesn't concern you, it should -- whether you think it's an indication of the job market's modest-at-best recovery from a deep recession, or the poor state of consumers' financia...

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Bibliographic Details
Published inCredit Union Magazine Vol. 79; no. 8; p. 50
Main Author Condon, Mark
Format Trade Publication Article
LanguageEnglish
Published Madison Credit Union National Association, Inc 01.08.2013
Subjects
Credit unions
Economic recovery
Financial literacy
Households
Tax exemptions
Trends
United States > US
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Summary:Seventy-six percent of American workers live paycheck to paycheck, according to Bankrate.com. If that doesn't concern you, it should -- whether you think it's an indication of the job market's modest-at-best recovery from a deep recession, or the poor state of consumers' financial literacy and money-management skills. It's a simple statistic created by an array of complex factors, but it's the latest evidence of the perilous financial condition of millions of American households today. Consider also the pathetic state of personal retirement savings in the age of the disappearing pension, and excessive amounts of student debt that'll haunt young people their entire lives because education costs have skyrocketed beyond the rate of inflation.
ISSN:0011-1066