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Working Paper
Suitability of a County-Level Income Definition for Analysis of Lower-Income Communities
This paper examines the costs and benefits of using a straightforward county-level income definition in the classification and study of lower-income communities. A definition based on population-weighted distribution of county-level median household incomes does a good job of identifying the most economically disadvantaged communities across a wide range of indicators. We show robustness to the use of different thresholds, levels of geography, and cost-of-living adjustments.
Working Paper
Sexual Orientation and Financial Well-Being in the United States
We study the relationship between financial well-being and sexual orientation in the United States using Survey of Household Economics and Decisionmaking (SHED) data for 2019-2022. We document that people who are lesbian, gay, and bisexual (or LGB) have significantly more difficulty managing financially than similarly situated heterosexual individuals—and this pre-dated the COVID-19 pandemic. Differences are found across a broad array of current and future financial well-being outcomes, including retirement savings, rainy-day funds, credit card and schooling debts, and the use of ...
Discussion Paper
Did the Pandemic Change Who Became Behind on Rent? Characteristics of Renters Behind on Rent Before and After the Pandemic Onset
As millions lost their jobs at the start of the COVID pandemic, many Americans risked missing their rent payments. Policymakers responded to the pandemic with hundreds of billions of dollars in government assistance and restrictions on evictions.
Discussion Paper
Understanding Workers’ Financial Wellbeing in States with Right-to-Work Laws
As public interest in labor unions has increased in recent months, along with an increase in union representation petitions, it is valuable to understand the economic implications of labor unions. Previous empirical studies on the effects of labor unions and collective bargaining processes have focused on several economic outcomes ranging from workers' pay and productivity to firms' profitability, investments, and overall economic performance.
Discussion Paper
“The Only Way I Could Afford It”: Who Uses BNPL and Why
Buy now, pay later (BNPL) is a fast-growing credit product that allows consumers to split payments over time. BNPL gained popularity as a new alternative credit product for online retail purchases over the past decade and has become available for in-person purchases as well as post-purchase credit card installment payment plans.
Discussion Paper
The Hidden Costs of Disability
Disability can be devastating financially for households, as it can severely limit earnings potential (Meyer & Mok, 2019; Benito, Glassman, & Hiedemann, 2016; Jolly, 2013). The earnings penalty for households with disabilities is estimated to range from 15 to 70 percent of earnings, depending on the nature of the disability (Meyer & Mok, 2019). Households receiving disability insurance (either employer-based or via Social Security) receive payments based on their prior earnings to help account for this earnings penalty.
Report
Economic Well-Being of U.S. Households in 2024
Results from the 2024 Survey of Household Economics and Decisionmaking (SHED), which was fielded in October, indicate that people’s financial well-being was similar to the previous two years but below the high reached in 2021. Concerns about prices persisted, and labor market conditions remained solid. Inflation and prices continued to be the top financial concern. A majority of adults also said that changes in the prices they paid over the prior year had made their finances worse, but the share saying so declined from 2023. In response to higher prices, most people reported taking actions ...
Report
Economic Well-Being of U.S. Households in 2023
Results from the 2023 Survey of Household Economics and Decisionmaking (SHED) indicate that people’s overall financial well-being was nearly unchanged from the previous year but below the high reached in 2021. Despite the moderating pace of inflation, many adults continued to indicate that higher prices were a challenge in managing their finances. The survey, which was fielded in October 2023, showed similar patterns for other measures of financial resiliency as well. Both the share of adults who spent less than their income in the month before the survey and the share who would pay for an ...