GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
What are the Average Salaries?
According to recent Forbes Advisory data, the average annual salary across the country is $59,428.
Meanwhile, the average hourly rate nationwide stands at $28.34.
Now, of course, disparities are depending on where you live.
Debt has a high cost and the result is a vicious cycle, with no end in sight.
What are the Drivers?
Since the 1970s, wages have not kept pace with inflation.
This means that the purchasing power of the average salary has barely budged.
A widening gap between income and expenses, making it increasingly difficult to make ends meet, added Hall.
Average salaries have not kept up, according to Doug Carey, CFA, president and owner ofWealthTrace.
This has been devastating to many people who were already struggling to pay their bills, he said.
More From GOBankingRates
Share This Article:
