More Families Feel Insecure. That’s Because They Are.
“Many different pieces of research tell the same startling story: Volatile incomes are an issue up and down the economic ladder, and this volatility is concentrated in the suburbs, where jobs are more likely to be like Green’s experiences in service and retail than the stable salaried jobs more available in urban centers. In following 235 families across the U.S. for a year, Rachel Schneider and Jonathan Mordoch found that during five months of the year, family income spikes or dips above or below the average by about 25 percent. Given that households are supposed to spend less than a third of their income on housing, having income spike or dip 25 percent can mean the difference from missing a rent or a mortgage payment each month.”