A larger proportion of Americans are now living paycheck to paycheck, a report that LendingClub and PYMNTS released on Monday found.
Texas Rep. Kevin Brady reacts to Monday's FBI raid and the Inflation Reduction Act passing through the Senate on 'Kudlow.'
A larger proportion of Americans are living paycheck to paycheck, a report released Monday by LendingClub and PYMNTS found. in December came in at 64%, according to the report. That figure equated to about 166 million and marked a 3% jump year-over-year. Man using calculator Accounting Calculating Cost Economic bills with money stack step growing growth saving money in home , finance conceptThe report, conducted in collaboration with PYMNTS, polled over 3,900 consumers in the U.S. The surveys took place Dec. 8 to Dec. 23.
Many consumers making over $100,000 per year, 51%, indicated they were living paycheck to paycheck last month, compared to the 42% who said so at the same time the prior year, it also found. Of those, 16% reported difficulties covering monthly bills. The report showed that for consumers making between $50-100,000, two-thirds lived paycheck to paycheck in December, and over three-quarters of those earning under $50,000 also said that.
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