SHED Data for October 2023 should be available this month. In the meantime, let’s look at results published last year by the Survey of Household Economics and Decision making (SHED) conducted by the Board of Governors of the Federal Reserve System. Today we will look at the Report on the Economic Well-Being of U.S. Households Worse Off table. If your family is feeling the hurt, signup for help on our page at https://alt-fw.org/outreach/. All the SHED reports are listed and can be downloaded as .pdf or .html from the Board of Governors of the Federal Reserve System web page on Economic Well-Being of U.S. Households (SHED).
Adults doing worse off than 12 months ago
Year 2016 – 17%
Year 2022 – 35% (doubled)
Adults doing worse off than 12 months ago, by race
Year 2016 15% of Black families 19% of White families
Year 2022 22% of Black families 38% of White families
Adults doing worse off than 12 months ago, by education
Year 2016
- 28% with less than High School diploma
- 18% with GED or High School Diploma
- 18% with some college or Associate degree
- 14% with Bachelor’s degree or more
Year 2022
- 40% with less than High School diploma
- 38% with GED or High School Diploma
- 36% with some college or Associate degree
- 31% with Bachelor’s degree or more
Twice as many people worse off in 2022 than in 2016
Adults doing worse off than 12 months ago, by metro/non-metro status
- Year 2016 17% that live in large cities 18% that do not live in large cities
- Year 2022 34% that live in large cities 40% that do not live in large cities
Twice as many people worse off in 2022 than in 2016
Worse off financially than 12 months ago, by parental status
- Year 2016 18% Parents living with own children under age 18 17% All other adults
- Year 2022 35% Parents living with own children under age 18 34% All other adults
Twice as many people worse off in 2022 than in 2016