The Federal Reserve Board published its Economic Well-Being of U.S. Households in 2024 report, drawing on the October 2024 Survey of Household Economics and Decisionmaking to assess the financial circumstances of U.S. adults and their families. The report finds overall financial well-being was broadly similar to the prior two years, with inflation and prices remaining the top concern and labor market conditions described as solid. Seventy-three percent of adults reported doing okay or living comfortably financially, below the 2021 high of 78 percent, while 63 percent said they would cover a USD 400 emergency expense using cash or its equivalent. A majority said price changes over the prior year made their finances worse, though that share declined from 2023, and most reported adjusting spending in response to higher prices. Labor market indicators such as job starts, layoffs, and voluntary quits were little changed from 2023, but job changes were less likely to be associated with improvement: 62 percent of job changers said their new job was better overall, down from 67 percent in 2023 and 72 percent in 2022. The survey also highlighted consumer exposure to fraud, with 21 percent of adults reporting financial fraud in 2024; among the 8 percent experiencing non-credit-card fraud, total unrecovered losses were estimated at USD 63 billion.

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