Economy
Standard of Living
Standard of Living
Half or more of Black and Hispanic households reported having difficulty paying for expenses.
Standard of Living
As many as 18% of adults in Louisiana had missed last month’s rent or mortgage payment or were uncertain they could make the next one. The rate was lowest in Utah, at 4%.
Standard of Living
Sixteen percent of households relied on borrowing from friends and family to meet their needs, and 20% relied on stimulus payments. The government made 162 million impact payments in the first round of stimulus checks, with an average value of $1,676.
Standard of Living
Nearly half — 46% — of personal care workers lost their jobs, as did 24% of food preparation workers. An exception was employment in healthcare support, such as home health aides and medical assistants, which despite having a low median wage compared to other occupations, experienced job growth of 32% compared to the yearly growth rate of 5% for the past 15 years.
Standard of Living
That's $4,000 less than in 2000 when adjusted for inflation — with a greater proportion coming from retirement savings like pensions and 401(K)s.
Standard of Living
The rate fell from 27.4% in 2010 to 18.8% in 2019 for Black people and 26.5% to 15.7% for Hispanic people.
Standard of Living
However, because middle class wealth has grown slower than overall wealth, middle class families went from owning 12% of wealth in 1990 to 7% in 2020.
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