Nearly Half of Americans Feel Financial Strain: Poll

Last updated: June 20, 2024
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Nearly half of Americans are finding it tough to maintain their financial status, according to a new poll from Monmouth University.

The survey, released Wednesday, reveals that 46% of Americans report struggling to stay afloat financially.

In contrast, 45% describe their situation as “basically stable,” while a mere 9% believe their financial circumstances are improving.

This data highlights the enduring impact of rapid inflation in the post-pandemic era. Although inflation rates have cooled, prices remain significantly higher than pre-pandemic levels, posing ongoing challenges for many.

“Even with a declining inflation rate, prices continue to be much higher than they were four years ago,” noted Patrick Murray, director of the Monmouth University Polling Institute.

“That’s the metric that has really mattered to many Americans over the past two years. Economic concerns may not be the top motivating factor for all voters but it defines the contours of this year’s election.”

The findings indicate a slight increase in financial strain compared to six months ago, with those struggling rising 2 points from 44% in December. This uptick underscores the persistent financial pressure many households face.

For 24% of respondents, inflation and “rising prices” are the “biggest concern facing” their families right now. This anxiety reflects the broader economic unease permeating the nation.

Conducted from June 6-10, the Monmouth University poll surveyed 1,106 people and carries a margin of error of 3.8 percentage points.

The poll’s insights provide a snapshot of the financial struggles confronting nearly half of American households as they navigate an unpredictable economic landscape.

These findings paint a stark picture of the economic challenges still looming large for many, even as the country attempts to move forward from the pandemic’s economic fallout.

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