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VOL. 38 | NO. 32 | Friday, August 08, 2014
Fed survey: 25 pct of households 'just getting by'
WASHINGTON (AP) — A survey by the Federal Reserve shows that a quarter of U.S. households say they're "just getting by" financially.
The Fed issued the first-time report Thursday, describing it as a snapshot of how Americans perceive their financial and economic well-being. The survey of about 4,100 households was conducted from Sept. 17 through Oct. 4, 2013.
Thirteen percent said they were struggling to get by, and 34 percent reported they were somewhat worse off or much worse off than before the Great Recession hit in 2008.
Other findings: a third of those who had applied for credit in the previous 12 months said they were turned down or given less than they asked for, and 24 percent had some type of education debt.