31 percent of Americans are struggling to get by financially

Before you go, we thought you'd like these...
31 Percent of Americans Are Struggling to Get by Financially

A survey from the Federal Reserve said that at the end of 2015, many Americans were struggling to make ends meet, even several years after the Great Recession.

In a survey of over 50,000 random U.S. adults, 31 percent said they were barely "getting by." That's down from the 38 percent reported by the Fed two years ago -- but it still means 76 million Americans are on weak financial footing.

SEE ALSO: Accidental deaths are on the rise in the US

According to the report, "22 percent of employed adults indicate they are either working multiple jobs, doing informal work for pay in addition to their main job or both."

The report details that 46 percent of Americans said they don't have enough saved to cover a $400 emergency expense.



In an April Gallup poll, 60 percent of Americans said they felt the economy is "getting worse."

The Fed's Lael Brainard hopes the research will help America solve the financial woes of its citizens.

"The new survey findings shed important light on the economic and financial security of American families seven years into the recovery," Brainard said in a May press release. "It's important to identify the reasons why so many families face continued financial struggles and to find ways to help them overcome them."


Click here for more of the day's top headlines.

Read Full Story

People are Reading