Over 60% of Americans are living paycheck to paycheck as inflation concerns impact savings

• A new report found that nearly two-thirds of the US population are living paycheck to paycheck.
• The percentage is down slightly from March, but is part of an upward trend as living costs outpace wage growth.
• CEOs are warning that consumers’ savings are going to run out as inflation rises.

As inflation continues to rise, it’s impacting the spending power of consumers across the income spectrum.

A new report from PYMNTS.com and LendingClub found that nearly two-thirds of the US population — about 157 million adults — are living paycheck to paycheck. Compared to a year ago, that’s up 9 percentage points from 52% in April 2021 to 61% in April 2022.

Although the 61% in April is a slight decrease from the 64% of consumers living paycheck to paycheck in March 2022, it’s part of an upwards trend of consumers living paycheck to paycheck as the cost of living outpaces wage growth.

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