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Most Americans view rising living costs as biggest barrier to a better life, survey finds
When asked to detail what would make a better life in three to five years, 60% of US adults said greater financial security
Americans may seem increasingly divided on beliefs and values, but in a new survey of more than 30,000 adults from across the country spanning generations and economic classes, a majority of Americans agree there’s a significant barrier to achieving a better life: the rising cost of living.
When asked to describe what a better life in three to five years would look like, 60% of Americans said they wanted greater financial security, according to a survey that was conducted by the McKinsey Institute for Economic Mobility and the WK Kellogg Foundation in mid-April.
Affordability is a 'defining challenge' for Americans, with food costs leading the way, report finds
Affordability is the "defining challenge" when it comes to economic mobility, according to a new report by the McKinsey Institute for Economic Mobility and the W.K. Kellogg Foundation.
The survey of 30,000 Americans across income levels found that 90% of those polled cited groceries and food prices as a top cost concern, even over other key expenses, such as housing and healthcare.
"We face a common challenge, and that is the rising cost of living," said John-Paul Julien, a partner at McKinsey & Co. and co-founder of the McKinsey Institute for Economic Mobility. "Although people are experiencing the economy differently, there is this shared feeling that rising costs are making it difficult to get ahead."
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