High-earning Americans living pay cheque to pay cheque after inflation surge – The National
- Date: 04-Jun-2022
- Source: The National
- Sector:Retail
- Country:Middle East
High-earning Americans living pay cheque to pay cheque after inflation surge – The National
About 36 per cent of Americans earning an annual income of between $200,000 and $250,000 lived pay cheque to pay cheque in April as inflation in the world's largest economy remains at a 40-year high, according to a new survey by data provider PYMNTS.
Forty-two per cent of consumers earning more than $100,000 per year also reported living pay cheque to pay cheque in April — down from 49 per cent in March 2022 but an increase from 40 per cent in April last year, the survey, which polled 4,048 US consumers from April 6 to April 13, found.
“Approximately three-in-five US consumers devote nearly all of their salaries to expenses with little to nothing left over at the end of the month,” PYMNTS said.
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