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May 23, 2018

Many struggling despite low jobless rate

  • About one-third of U.S. adults relied on “gig” work or side jobs last year to bolster their incomes.
    • By CHRISTOPHER RUGABER
    AP Economics Writer

    WASHINGTON — Despite an ultra-low 3.9 percent unemployment rate, about one-third of U.S. adults faced financial insecurity last year and often struggled to pay unexpected expenses, a Federal Reserve survey found .

    For three in 10 adults, their monthly incomes fluctuated — often because their work schedules changed at short notice — and that caused about one in ten Americans to miss some bill payments, according to the report released Tuesday. Forty percent of adults would have had to borrow money or sell something to pay an emergency expense of just $400.


     
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