Gallup: More Americans feeling better about personal finances

5 months ago 42
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June 17 (UPI) -- More than half of Americans have a more positive view of their finances after three months of economic impact from the coronavirus pandemic, a survey showed Wednesday.

Gallup said a survey taken between May 28 and June 4 shows 53 percent of U.S. adults said their finances are either "excellent" or "good," an increase of 4 points from April.

The figure is below the 56 percent who answered that way last year, but higher than surveys taken during the financial crisis a decade ago.

Thirty-three percent said their finances are "fair" and 14 percent said they're "poor." The latter has remained fairly consistent, ranging from 12 percent in 2017 to 19 percent in 2010.

"The increase in ratings of personal finances may reflect the return of millions of Americans to work, though unemployment remains higher than at any point since the Great Depression," Gallup wrote. "The poll's fieldwork was completed before the federal government's June 5 announcement of an unexpected decline in the unemployment rate, from 14.7 percent to 13.3 percent."

Those who answered "excellent" or "good" among Americans earning less than $40,000 increased 7 percent in the new survey, over April's. Among those making at least $100,000, there was a 5 percent rise.

U.S. adults over the age of 30 showed the largest increase, 7 percent, in viewing their fiscal status as "getting better."

Gallup polled more than 1,000 U.S. adults for the survey, which has a margin of error of 4 points.

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