Credit: Marek Yuralaits/Adobe Stock
While financial stress affects workers of all income levels, high inflation, fears of a recession, spiking interest rates, an unstable economy, and thousands of layoffs in seemingly impervious industries (think hitech) have created a perfect storm that's devaluing the spending power of middle-income workers. Nearly three-quarters of middle-income families say their incomes can't keep up with today's cost of living. One study found 50.8% of people earning over $100,000 were living paycheck to paycheck.
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