The number of American households living paycheck to paycheck has risen to 38 percent, according to a study by the Consumer Federation of America and the Consumer Planner Board of Standards. Fifteen years ago, the number was 31 percent. The report also found that more than half of Americans are behind on their retirement savings, up from 38 percent in 1997. Both problems have been exacerbated by stagnant wages and an increase in low-wage jobs; as ThinkProgress noted this week, one in four private sector workers make less than $10 an hour.
Study: Nearly Two-In-Five American Households Live Paycheck To Paycheck