According to a poll by Primerica, inflation and fears about a stagflationary recession are making middle-class Americans pessimistic about their financial status and the overall health of the broader economy.
75% of Americans with incomes between $30,000 and $100,000 stated that their income is not catching up with inflation, per the findings from Primerica. This represents a notable increase from March when these figures stood at 67%.
77% of those surveyed said they expect the economy to go into a recession by the end of 2022.
61% of middle class Americans said they expect the economy to be in worse shape in 2023. Only 14% said they expect it to improve.
41% indicated that inflation is their primary concern. Being able to make food payments is the primary concern of 26% of middle-class Americans.