Historic inflation, soaring borrowing costs and stagnant wages.New evidence that American workers struggle to make ends meet. A new survey sponsored by Bank of America found nearly three in four American workers surveyed said the cost of living is outpacing their salary and wages.The data also found half of employees said they have to take action to deal with that economic strain. Among the group taking action, 21% are tapping into emergency savings to pay for bills.While 6% are dipping into their 401k and making a hardship withdrawal.And 20% are looking for a higher-paying job.The data paints a dire picture of workers under significant financial pressure as crushing inflation erodes paychecks.Watch the video above for the full story.
Historic inflation, soaring borrowing costs and stagnant wages.
New evidence that American workers struggle to make ends meet.
A new survey sponsored by Bank of America found nearly three in four American workers surveyed said the cost of living is outpacing their salary and wages.
The data also found half of employees said they have to take action to deal with that economic strain.
Among the group taking action, 21% are tapping into emergency savings to pay for bills.
While 6% are dipping into their 401k and making a hardship withdrawal.
And 20% are looking for a higher-paying job.
The data paints a dire picture of workers under significant financial pressure as crushing inflation erodes paychecks.
Watch the video above for the full story.
