Most Americans don’t think their finances will improve this year

    The majority of Americans expect 2019 to be a grim one for their finances, according to a new study.

    Just over 55% of people in the United States, Bloomberg reports, don’t see their economic situation improving this year, a new Bankrate.com report found. That slice includes 11.7% who believe their prospects will worsen and 43.7% who believe it will stay about the same.

    The survey was conducted from Dec. 14-16 of last year, when U.S. consumer confidence had slumped to a five-month low amid stock market volatility and fears that global economic growth would moderate in 2019. A partial government shutdown—now the longest in U.S. history—was looming, and trade talks with China had reached a wary but unresolved truce.

    While Americans may not be overly optimistic about their financial future, the data show wages on the uptick. Workers saw an average hourly wage gain of 3.2% over the past year, according to the Bureau of Labor Statistics’ December report. Median household income, adjusted for inflation, is also on the rise.
    “There can be a disconnect with what we might see as respectable economic data and how it does or doesn’t help average Americans,” says Mark Hamrick, senior economic analyst at Bankrate.com. “We continue to see some economic stress throughout a sizable cross section of society.” Read the full story.

    View Comments