Overview
- The Federal Reserve's annual household survey, released Wednesday, reports 73% of adults say they are doing okay or living comfortably and 63% could cover a $400 emergency with cash.
- Price increases remain the top concern for 91% of adults, though the share calling inflation a major worry slipped to 53% and 77% said they changed spending because of higher prices.
- Job security concerns rose to 42% from 37% a year earlier, with slightly fewer people quitting voluntarily and a small uptick in layoffs signaling a softer labor market.
- Financial well-being fell for key groups as low-income households, young adults, and Black adults reported worse outcomes, including 15% of under‑30s not working and about half living with a parent.
- Generative AI use has become routine for many workers, with one in four using it in the prior month and most users saying it saves time and helps their career prospects.