Economic Poll: Middle Class Majority Struggling Financially

(Dreamstime)

Almost two-thirds of middle-class Americans say they face economic hardship, according to a National True Cost of Living Coalition poll.

The poll of 2,500 adults revealed 65% percent of respondents who make at least $60,000 for a family of four said they struggle financially.

Even higher-income Americans can feel the economic squeeze. The poll found a quarter of Americans making $150,000 for a family of four worry about their bills.

“The economy is booming, and yet many Americans are still gasping for air financially,” said Jennifer Jones Austin, chief executive officer of the Federation of Protestant Welfare Agencies, an anti-poverty advocacy organization that is part of the team that commissioned the poll. “They simply don’t have the breathing room to plan beyond their present needs.”

Almost half those polled said they did not have $500 saved, 40% said they were unable to plan beyond their next paycheck, and 28% said they have no savings at all. Only 1 in 5 polled said they have $10,000 saved.

The nationwide poll of 2,423 adults was conducted in February and had a margin of error of plus or minus 2 percentage points.