Brookings report: 45.5% of U.S. households can't afford basic necessities in 2024
By
By Stephan Bisaha
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
New research from the Brookings Institution reveals that in 2024, 45.5% of U.S. households did not earn enough to cover their basic necessities. The report measures affordability by comparing rising costs of essentials against family incomes, providing a concrete definition for the often vague term "affordability." This highlights the precarious financial situation of nearly half of American households.
Key quotes
· 3 pulledIn 2024 45.5% of U.S. households did not earn enough to cover their necessities.
Affordability has been a politically potent word, but an ill-defined measure of financial pain, often used as a reference to inflated prices.
New research from the Brookings Institution released Wednesday describes affordability by comparing the rising costs of essentials against family incomes.
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