The 10th annual Survey of Household Economics and Decisionmaking (SHED) offers insight into the financial well-being of U.S. adults and their families and provides important information about how people are faring in the economy.
Overall, the report shows that higher prices have negatively affected most households and overall financial well-being declined over the prior year, though workers continued to benefit from a strong labor market.
The report indicates that self-reported financial well-being declined in 2022, in part reflecting ongoing concerns about higher prices. In the 4th quarter of 2022, 73% of adults reported either doing okay or living comfortably financially.
This @federalreserve report discusses findings related to financial well-being, income, expenses, employment, banking and credit, housing, retirement and investments, and higher education and student loans.
Watch a summary of the findings: External Linkhttps://www.youtube.com/watch?v=8Kq8mzlco-g
Access interactive data from the Board’s SHED release:
Read a post by Jennifer Fernandez about the gap between the percentage of women not working (28%) and men (18%), and what the SHED survey told us about why: External Linkhttps://fedcommunities.org/what-driving-continued-womens-labor-force-shortage/. Fernandez is a senior community development analyst at the Federal Reserve Board of Governors.