ManyU.S. households find themselves in a fragile position financially,even in an economy with an unemployment rate near a 50-year low,according to a Federal Reserve survey.
The Fed's 2018 report on the economic well-being of households,published Thursday, indicated “most measures” of well-being andfinancial resilience “were similar to, or slightly better than,those in 2017.” The slight improvement coincided with a decline inthe average unemployment rate to3.9 percent last year, from 4.3 percent in2017.
But despite the advance, the results of the 2018 surveyindicated that almost 40 percent of Americans would stillstruggle in the face of a $400 financial emergency. The statistic, which was abit better than in the 2017 report, has become a favorite rejoinderto U.S. President Donald Trump's boasts about a strong economyamong Democratic politicians, including 2020 presidential candidateKamala Harris, the U.S. senator from California.
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