Economics
Almost 40% of Americans Would Struggle to Cover a $400 Emergency
- Annual Fed survey shows ongoing household financial fragility
- Black and Hispanic Americans lagging behind white counterparts
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Many U.S. households find themselves in a fragile position financially, even in an economy with an unemployment rate near a 50-year low, according to a Federal Reserve survey.
The Fed’s 2018 report on the economic well-being of households, published Thursday, indicated “most measures” of well-being and financial resilience “were similar to, or slightly better than, those in 2017.” The slight improvement coincided with a decline in the average unemployment rate to 3.9% last year, from 4.3% in 2017.