About 71 percent of Americans say they don’t make enough to cover expenses, according to a Bank of America survey Tuesday.
This outcome explains why only 44 percent voted that they feel financially secure. That’s down from the 57 percent in February.
Now, the median hourly wage has jumped 5.2 percent from $30.76 to $32.36 however the Customer Price Index has risen by 8.3 percent.
Last year, median weekly earning sat at $1,067. That number was supposed to rise to $1,155 to match inflation, however, it currently sits $1,107. Federal data shows that buying power has dropped $2,525 as Americans are earning $48 less a week than last year.