Americans struggling to make ends meet

[dmcowen674]

11-26-2012

http://finance.yahoo.com/news/survey-americans-struggling-ends-meet-080033043.html

Americans struggling to make ends meet

Many Americans Living Paycheck To Paycheck

Forget saving money or paying down debt. The top financial priority for many Americans is simply staying afloat, according to Bankrate's November Financial Security Index. Nearly a third of Americans, 32 percent, say that just staying current or getting caught up on bills is their main concern right now.


There simply aren't enough jobs. Between high unemployment and stagnant wages, the sense that it is hard to get ahead these days is unshakeable. For example, in October, 2.4 million Americans were marginally attached to the workforce, meaning they were unemployed but haven't looked for work in the four weeks preceding the survey. Of the marginally attached workers, 813,000 were classified as discouraged, which means they have all but given up on finding a job. Meanwhile, 8.3 million people remain underemployed, according to the Bureau of Labor Statistics employment report for October.


In addition, incomes are not keeping up with increases in the cost of living. Growth in hourly earnings has clocked in under the historical average inflation rate of 3.23 percent, according to a parsing of Bureau of Labor Statistics data from the Economic Policy Institute, or EPI.

 

[dmcowen674]

I know this does not apply to 99% of the posters here in P&N

 

[Londo_Jowo]

I thought everyone was saying they were better off than 4 years ago.

 

[highland145]

Well, the 200+ million that spent $$ on Black Friday must be doing O.K. So not bad, all in all.

 

[Retro Rob]

11-26-2012

http://finance.yahoo.com/news/survey-americans-struggling-ends-meet-080033043.html

Americans struggling to make ends meet

Many Americans Living Paycheck To Paycheck

Forget saving money or paying down debt. The top financial priority for many Americans is simply staying afloat, according to Bankrate's November Financial Security Index. Nearly a third of Americans, 32 percent, say that just staying current or getting caught up on bills is their main concern right now.


There simply aren't enough jobs. Between high unemployment and stagnant wages, the sense that it is hard to get ahead these days is unshakeable. For example, in October, 2.4 million Americans were marginally attached to the workforce, meaning they were unemployed but haven't looked for work in the four weeks preceding the survey. Of the marginally attached workers, 813,000 were classified as discouraged, which means they have all but given up on finding a job. Meanwhile, 8.3 million people remain underemployed, according to the Bureau of Labor Statistics employment report for October.


In addition, incomes are not keeping up with increases in the cost of living. Growth in hourly earnings has clocked in under the historical average inflation rate of 3.23 percent, according to a parsing of Bureau of Labor Statistics data from the Economic Policy Institute, or EPI.

I read stuff this every year, yet people find ways to make retailers "richer" every holiday season.

A strong Black Friday, Cyber Monday expecting to rake in over 1B this year, and not to mention all the holiday hiring and loading up for all these people "struggling to make ends meet" to blow more cash and incur more debt... oh, and not to mention the amount of spending that's going to take place bringing in 2013.

We're struggling to make ends meet because we'd rather buy into the highly commercialized holiday season than to set cash aside for more important things.

But... they're trying to stay afloat.

They're really complaining about not having more disposable income.

 

[Dulanic]

I read stuff this every year, yet people find ways to make retailers "richer" every holiday season.

A strong Black Friday, Cyber Monday expecting to rake in over 1B this year, and not to mention all the holiday hiring and loading up for all these people "struggling to make ends meet" to blow more cash and incur more debt... oh, and not to mention the amount of spending that's going to take place bringing in 2013.

We're struggling to make ends meet because we'd rather buy into the highly commercialized holiday season than to set cash aside for more important things.

But... they're trying to stay afloat.

They're really complaining about not having more disposable income.

Unfortunately, America has been buying on credit for decades. However, at least that trend is slightly starting to reverse. But not nearly enough or fast enough.

 

[Incorruptible]

I know this does not apply to 99% of the posters here in P&N

So that pos obama was wrong when he said we were better off than four years ago, What a surprise!

 

[GTaudiophile]

Heckler Ridicules Black Friday Shoppers

(Two fun videos inside. SFW except for language.)

 

[Nintendesert]

No sympathy for Americans living paycheck to paycheck. Not when what % has expensive data plans and smart phones? How many iCrap gadgets and new Android phones get sold every month and every year?

Look at Black Friday and all the waste people were committing just to save some money on something they didn't actually need.

Americans live paycheck to paycheck because they like to be consumer-whores and live for the moment instead of saving for the future. Our entire economy works on the premise that Americans don't save money and spend it like drunken sailors. That's why tax cuts work on the middle class, they don't save it, every dime uncle sam gives back goes right out to the department stores.

 

[Retro Rob]

No sympathy for Americans living paycheck to paycheck. Not when what % has expensive data plans and smart phones? How many iCrap gadgets and new Android phones get sold every month and every year?

Look at Black Friday and all the waste people were committing just to save some money on something they didn't actually need.

Americans live paycheck to paycheck because they like to be consumer-whores and live for the moment instead of saving for the future. Our entire economy works on the premise that Americans don't save money and spend it like drunken sailors. That's why tax cuts work on the middle class, they don't save it, every dime uncle sam gives back goes right out to the department stores.

Sad, but I agree 100%!

 

[Retro Rob]

Unfortunately, America has been buying on credit for decades. However, at least that trend is slightly starting to reverse. But not nearly enough or fast enough.

e

..and I don't have any issue buying credit either if need be.

A car break down, job loss, unexpected expense... credit cards can be lifesavers!

Just when you buy an I-[insert gadget here] when you just bought one last month on said credit card.. that's what's holding us down.

 

[IronWing]

I know this does not apply to 99% of the posters here in P&N

It probably doesn't. Live within your means and work to boost your means. Boosting your means may mean going back to school, switching jobs, taking on second jobs, forming a union and fighting for higher pay, or getting rid of politicians who work against your interests.

 

[IronWing]

half of americans deserve to be nuked for voting for gay marriage

<Off the topic>
Is this the fastest non-spam ban in AT history?
</Off the topic>

 

[ccbadd]

All the ones that voted for another 4 years of Obama deserve ever bit of it and worse!

 

[Incorruptible]

All the ones that voted for another 4 years of Obama deserve ever bit of it and worse!

This, they must suffer the consequences like job losses which will happen

 

[dmcowen674]

No sympathy for Americans living paycheck to paycheck. Not when what % has expensive data plans and smart phones? How many iCrap gadgets and new Android phones get sold every month and every year?

Look at Black Friday and all the waste people were committing just to save some money on something they didn't actually need.

Americans live paycheck to paycheck because they like to be consumer-whores and live for the moment instead of saving for the future. Our entire economy works on the premise that Americans don't save money and spend it like drunken sailors. That's why tax cuts work on the middle class, they don't save it, every dime uncle sam gives back goes right out to the department stores.

Speak for yourself.

I did not go anywhere near the stores over the Holiday.

 

[DrPizza]

Well, the 200+ million that spent $$ on Black Friday must be doing O.K. So not bad, all in all.

It took about 2 seconds of thought to realize your figure is WAY off. Last year, it was 52.4 BILLION dollars. Online sales alone exceeded 1 billion dollars; Thanksgiving being up by about 17%, and Friday being up by over 20% from previous years. Early estimates are that overall sales were up 13% this year over last year - 59 BILLION dollars.

Or, spending at that rate = the federal debt in less than a year.

 

[Ausm]

I thought everyone was saying they were better off than 4 years ago.

I am and anyone else how invests wisely would be lying if they said different but I am pretty sure the folks in this article really don't have that type of disposable income.

 

[actuarial]

It took about 2 seconds of thought to realize your figure is WAY off. Last year, it was 52.4 BILLION dollars. Online sales alone exceeded 1 billion dollars; Thanksgiving being up by about 17%, and Friday being up by over 20% from previous years. Early estimates are that overall sales were up 13% this year over last year - 59 BILLION dollars.

Or, spending at that rate = the federal debt in less than a year.

I think you read the post wrong. He didn't say that $200M was spent, but that 200M people bought something.

 

[Atreus21]

I know this does not apply to 99% of the posters here in P&N

It applies to me, dammit.

 

[IGBT]

they still have plenty of money for tattoos / cell phones / smart phones (obama phones?) expensive monthly data bills / nose bolts / face piercings / multiple clustered ear rings / over priced hybrid cars / endless forms of iGadgets / dope / alcohol / prescription drugs / SSRI's /...the last few generations of americans are in a permanent state of adolescence. No wonder they needed a daddy for president.

 

[Ausm]

they still have plenty of money for tattoos / cell phones / smart phones (obama phones?) expensive monthly data bills / nose bolts / face piercings / multiple clustered ear rings / over priced hybrid cars / endless forms of iGadgets / dope / alcohol / prescription drugs / SSRI's /...the last few generations of americans are in a permanent state of adolescence. No wonder they needed a daddy for president.

Detached from reality such as you are,I can see why your party has gotten bitch slapped in the last 2 Presidential Elections....keep gulping that kool-aid!

 

[IGBT]

Detached from reality such as you are,I can see why your party has gotten bitch slapped in the last 2 Presidential Elections....keep gulping that kool-aid!

what..the democrats?? I'm a registered democrat. Not all democrats are oxygen deprived fools like YOU.

 

[IGBT]

I thought everyone was saying they were better off than 4 years ago.

they only said that to keep sugga daddy in the white house.

 

[monovillage]

Sorry Dave, but when have a majority of people in this country not been struggling to make ends meet? This isn't even news.