Middle-class Americans are feeling more negative about the economy than they were in March, leading many to reassess their jobs and budgets, according to a recent survey.
Primerica, which provides financial services for middle-income families, and polling company Change Research recently released their second-quarter "2022 Middle-Income Financial Security Monitor." They surveyed 1,384 American adults with incomes between $30,000 and $100,000 to create the report.
10 key findings:
1. 28 percent expressed interest in changing jobs in the next year; 22 percent plan to seek a higher-paying job.
2. 75 percent of middle-class Americans believe their income is falling behind cost of living, up eight points from March's report.
3. 77 percent believe the U.S. will be in a recession by the end of the year, so they are saving more and planning to work longer before retiring.
4. 16 percent believe their finances will be better in a year.
5. 41 percent said inflation is their top financial concern.
6. 26 percent said being able to pay for food is their top financial concern.
7. 37 percent plan to save more in the next year, but 36 percent have spent more money in the past year.
8. 71 percent plan to cut back on restaurant and takeout spending, up 57 points from March.
9. 69 percent say they avoid upgrading technology, as a way to save money.
10. 75 percent do not think they have enough savings to comfortably retire.