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Financial distress among American families: Evidence from the Well-Being and Basic Needs Survey

Date Added to Library: 
Wednesday, March 6, 2019 - 17:28
Priority: 
normal
Individual Author: 
Brown, K. Steven
Braga, Breno
Reference Type: 
Publisher: 
Place Published: 
Washington, D.C.
Published Date: 
02/14/2019
Published Date (Date): 
Thursday, February 14, 2019
Year: 
2019
Language(s): 
Abstract: 

Concern is growing among some analysts that recent economic growth in the US has not translated to economic well-being across the board. This study focuses on the share of Americans in financial distress in 2017, a year of relatively low unemployment. We find that a third of moderate-income adults experience financial insecurity in the past 12 months. In addition, one in eight of them say they must turn to high interest rate payday loans, auto title loans, or pawn shops to tide them over. (Author abstract)

 

Geographic Focus: 
Page Count: 
12
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