The cost of living is rising, and many Americans can't afford it
On the surface, things are going well in America. The unemployment rate — at 3.7 percent — is at its lowest level in decades. Annual wage growth recently hit a nine-year high. And the latest figures from the Commerce Department show that the U.S. economy continues to grow.
But that doesn’t mean all Americans are doing well. In fact, GOBankingRates found that it’s gotten tougher for many people to afford basic necessities. We examined the cost of living throughout the U.S. over the past few years to see how much it has increased. Then, we surveyed Americans to find out how much they’re spending on necessities. The average spending of respondents in each state was then compared with the median income in each state to determine whether people can realistically afford the cost of living where they are.
Keep reading to see the states where Americans can’t afford their cost of living.
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https://www.msn.com/en-us/money/personalfinance/the-cost-of-living-is-rising-and-many-americans-cant-afford-it/ar-BBPElEa?li=BBnbfcN
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