“Over the past two years, the average income has fallen by 3 percent, while the cost of living has risen by almost seven percent, partly due to higher housing and medical expenses,” CNBC noted.
According to the NerdWallet survey, more than three-quarters (78%) of Americans receive some form of assistance with COVID-19 infection. They set them aside, among other things, to buy or pay for basic necessities. However, their credit card debt continues to rise. Mortgages on car or student loans are also on the rise.
– The past year and a half has been difficult for millions of Americans who have lost their jobs. We now face the cost of much-needed food, shelter, fuel, transportation and medical care. NerdWallet’s credit card expert Sarah Rathner, quoted by CNBC, said many people have difficulty meeting costs.
In all, Americans owe $ 15 trillion to various lenders. This is an increase of 6.2% over the previous year.
As predicted, federal epidemiological measures such as extended unemployment benefits and stimulus checks will no longer exist. However, in 2022, a further increase in wages is expected.
The Nonprofit Convention Board (CB) estimates that companies will make up 3.9 percent this year in dealing with delivering important news on economic issues to its members. Salary increase including newly hired employees. This is the highest rate since 2008.
CNBC reports that those in need can still benefit from the largest federal food aid program (SNAP). Support is also available to tenants with rent arrears. Washington has also announced that it will defer its obligation to pay off federal student loans until May.
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