54% of Americans Living Paycheck to Paycheck

54% of Americans Living Paycheck to Paycheck

According to new research by LendingClub, an astonishingly high percentage of Americans are living paycheck to paycheck. 54% of Americans are living paycheck to paycheck with regional differences. The South Central region (Texas, Oklahoma, Arkansas, Louisiana, Mississippi, Alabama, Tennessee, and Kentucky) has the highest percentage at 59% living paycheck to paycheck with 25% struggling to pay their monthly bills. 23

The study also found differences between metro and rural areas. Metro areas generally have a higher cost of living relative to rural areas. 63% of respondents who live in metro areas said that they are living paycheck to paycheck compared with 39% in rural areas. 

A large percentage of Americans are dependent on their next paycheck to make ends meet, i.e. they are wage workers who need their next paycheck to subsist. While the capitalist oligarchs continue to amass profits and exploit the global working class, the mass of workers struggle to survive. Only the dismantling of the capitalist system and its replacement with a socialist system under the dictatorship of the proletariat will fundamentally resolve this issue. 

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