Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Report: Inflation Forcing Over Half Of Americans To Consider A Second Job

by October 20, 2022
October 20, 2022
Report: Inflation Forcing Over Half Of Americans To Consider A Second Job

Biden’s inflation is hitting families extremely hard.

According to a new survey, over half of Americans are now considering getting a second job.

The survey from Qualtrics found that 38% of workers have already looked for a second job — while another 14% said they plan on finding a second job.

Bloomberg reported:

Over half of working Americans have considered holding multiple jobs to pay their living expenses as inflation remained stubbornly high in September and real wages fell.

About 38% of workers have looked for a second job, while an additional 14% have plans to do so, according to a survey of more than 1,000 full-time US employees by Qualtrics International Inc., which makes software used by over 16,000 organizations. At the same time, 18% of working adults said they had moved to an area with a lower cost of living to cut expenses, and another 13% plan to do so.

Americans are trying to get more shifts to work and find higher-paying jobs to deal with the decade-high inflation.

40% of American consumers told financial services company Primerica that they are taking on more credit card debt.

CBS News reported:

To cope with higher costs, some workers are seeking more shifts or hours from their employers, while others say they’re looking for a higher-paying job, noted Qualtrics, a maker of business management software. Almost 6 in 10 want the chance to work overtime or extra shifts, while about 4 in 10 have searched for a new job with higher pay.

Meanwhile, more Americans are putting expenses on credit cards as their wages lag inflation. Almost 40% of consumers told financial services company Primerica they are taking on more credit card debt, a 6 percentage-point increase since June.

But accruing credit card debt carries more financial risks than a year ago. Because of the Fed’s rate hikes, credit card companies are charging much higher interest than in 2021. That could lead to a snowball effect if consumers can’t pay down their balances and incur higher interest rates.

A middle-income family with two kids now has to spend $26,011 to raise a child to the age of 17.

Brookings.edu:

In a new analysis,[1] we looked to the 17-years between 1980 and 1997, another period of substantially elevated inflation rates. The average Consumer Price Index increase during that period—which included a decline in inflation following Fed actions—was 4 percent.

We then re-calculated the projected cost of raising a child assuming a 4 percent inflation rate from 2021 to 2032. We estimate that total average family expenditures on a child born in 2015 to a middle-class family with two children, adjusted for higher expected future inflation, would be $310,605. Due to higher inflation, a middle-income married family with two children will now spend $26,011 more to raise a child to the age of 17.

This cost increase presents an even heavier burden for low-income parents and families, for whom expenses such as food, housing, and gas comprise an even larger portion of their income.

This is Joe Biden’s economy.

For the antidote to media bias, check out ProTrumpNews.com…

The post Report: Inflation Forcing Over Half Of Americans To Consider A Second Job appeared first on The Gateway Pundit.

0
FacebookTwitterGoogle +Pinterest
previous post
BREAKING: CDC Votes to Recommend COVID-19 Shots for Child and Adolescents Annual Immunization Schedule in 15 Unanimous Votes
next post
Shetland is cut off from mainland as phones and internet are hit by blackout after subsea cable cut

You may also like

House Oversight probes FCC’s expedited approval of Soros...

September 26, 2024

DEVELOPING: *Active Shooter Situation* – Two Newark Police...

November 1, 2022

YARDEN GONEN: Thank you, President Trump, for rescuing...

January 29, 2025

Pro-Abortion Protesters Disrupt Supreme Court Arguments; Three Women...

November 2, 2022

After Raging a War Against MAGA, Kevin McCarthy...

November 25, 2022

Exclusive: 10 FACTS on the Dozens of Federal...

September 23, 2022

Trump camp hits back after CNN host cuts...

June 24, 2024

Obama’s half brother rips Biden-Harris agenda while hyping...

September 9, 2024

House passes FISA renewal without added warrant mandate...

April 13, 2024

Allan Lichtman predicts Harris as 2024 winner because...

September 7, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • What James Carville doesn’t get about voter priorities

      July 25, 2025
    • Fields of fortune: Why farmland remains a tax-efficient safe haven — for now

      July 25, 2025
    • UK firms cutting staff at fastest pace since February as economic pressures mount

      July 25, 2025
    • River Island faces collapse unless landlords approve urgent rescue plan

      July 25, 2025
    • LVMH suffers steep drop in fashion sales as wealthy consumers tighten belts

      July 25, 2025
    • EU fails to reduce 50% steel tariff in draft US trade deal as industry warns of ‘catastrophic’ impact

      July 25, 2025

    Categories

    • Business (8,573)
    • Investing (2,145)
    • Politics (16,193)
    • Stocks (3,227)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved