Despite improving inflation, more Americans are living paycheck to paycheck
Sep 4, 2023, 7:14 PM | Updated: 7:18 pm
A cashier handles money during a recent transaction. (Image courtesy of KIRO 7)
(Image courtesy of KIRO 7)
Despite improving inflation numbers, a new study from Fortune found that 61 percent of Americans are still living paycheck to paycheck.
“You wonder what’s going on. Everything has just skyrocketed,” Ahmed Mumin, the Executive Director of the Seattle Rideshare Drivers Association, said.
Heather Barker, a teacher, said educators are feeling it too.
“Everything is so much more expensive, everything,” she said.
The study noted that there are a wide variety of factors contributing to this. The study said that about 21 percent of those living paycheck to paycheck said non-essential spending is to blame.
However, the Washingtonians KIRO 7 spoke with said they’re taking hits from buying the essentials.
“When you listen to the news they tell you inflation is coming down and it doesn’t translate to the pocket,” Mumin said. “When you go to get groceries you’re going to spend $100 with only one bag for Safeway.”
The study also reported that inflation rates have come down from just over 9 percent a year ago to just over 3 percent.
“A trip to the grocery store, gas, let alone eating out and even taking my kids. My own kids to go get school supplies were just super expensive,” Barker said.
