Research Report Financial Distress among American Families: Evidence from the Well-Being and Basic Needs Survey
Steven Brown, Breno Braga
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Concern is growing among some analysts that recent economic growth in the US has not translated to economic well-being across the board. This study focuses on the share of Americans in financial distress in 2017, a year of relatively low unemployment. We find that a third of moderate-income adults experience financial insecurity in the past 12 months. In addition, one in eight of them say they must turn to high interest rate payday loans, auto title loans, or pawn shops to tide them over.

Research Areas Wealth and financial well-being Families Social safety net
Tags Families with low incomes Asset and debts From Safety Net to Solid Ground
Policy Centers Center on Labor, Human Services, and Population