One In Eight US Households Saw Drop In Income Last Month
View Source | October 4, 2023 12:28 pm
- The income increase — to 11.8% last month from 10.7% in August — was driven primarily by high- and middle-income households and the West region, according to a survey of the US labor market from data intelligence company Morning Consult.
- Among adults with an annual income of $100,000 or more, close to 20% say they expect their incomes to fall in the next four weeks.
- The poll also pointed to a slowdown in business activity, with the share of workers who reported working over 35 hours falling to 46.7% — the lowest level since the spring of 2021 and down more than 12 percentage points from September 2022.
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