A fresh Federal Reserve study on US citizens’ well-being has revealed that almost a third of adults are just getting by and are never far away from serious financial hardships. And this despite record-low unemployment.The survey by the US central bank showed 30 percent or 73 million adults in the US described their financial situation as difficult. It noted that the rates of hardship were higher in black and Hispanic populations compared with whites. “Substantial shares of adults are struggling with their regular expenses or would struggle to cope with an unexpected hardship,” the Federal Reserve said in its annual assessment of people’s well-being. Expensive collegesThe survey added costs for higher education were another key difficulty, with more than half of the adults, who attended college, taking on debt.

Source: Daily News Egypt May 20, 2017 11:37 UTC