financial wellness
More Americans Joining Workforce, But Many Are Unable to Find Living-Wage Jobs
Last Updated on September 19, 2025 by Daily News Staff
WASHINGTON, Sept. 15, 2022 /PRNewswire/ — The American workforce expanded from July to August, but many of those workers found they were unable to secure Living-Wage Jobs, according to an analysis by the Ludwig Institute for Shared Economic Prosperity (LISEP).
In its monthly True Rate of Unemployment (TRU) for August, LISEP reported that 22.5% of American workers are now classified as “functionally unemployed,” defined as the jobless, plus those seeking but unable to secure full-time employment, even if they want to work full-time and/or cannot earn above the poverty line after adjusting for inflation. This is an increase of 0.2 percentage points over the July TRU.
TRU’s sister metric, TRU Out of the Population (TRU OOP) – a measure of those who are functionally unemployed out of the entire population, not just active workforce participants – remained unchanged, which, when coupled with a rising TRU, indicates more workers are joining or returning to the labor force.
“It is a net positive that previously discouraged workers are rejoining the workforce, but unfortunately, their return to the workforce is, in many cases, not a return to full-time, living-wage employment,” said LISEP founder and chair Gene Ludwig. “The challenge for policymakers is to continue to encourage positive growth in employment opportunities, but do so in a manner that provides for growth in living-wage jobs for every American who wants one.”
Demographically, Black workers saw the biggest jump in TRU, increasing by 0.6 percentage points, from 25.8% to 26.4%. This, with the Black TRU OOP climbing by 0.7 percentage points, indicates that a larger percentage of Black workers are classified as functionally unemployed. Hispanic workers saw no change in the TRU, holding steady at 26.3%, with White workers tracking the overall TRU and increasing by 0.2 percentage points, to 20.7%. Male TRU increased a full percentage point, from 17.5% to 18.5%, while women dropped a half percentage point, from 27.5% to 27.0%.
Living-wage job opportunities continue to be an issue for workers with only a high school diploma, with the TRU for this group jumping 2.5 percentage points, from 24.5% to 27.0%. Likewise, those without a high school degree saw their TRU increase, from 47.3% to 47.6%. TRU for workers with some college (but no college degree) dropped, from 25.6% to 23.7%, but an analysis of the TRU OOP for this group indicates the decline is likely due to discouraged workers in this cohort leaving the workforce.
“We know the cost of living continues to be an issue for low- and middle-income Americans, as inflation continues to erode the ability of these workers to maintain even a basic standard of living. So in that respect, I’m somewhat relieved there wasn’t a bigger increase in the overall TRU,” Ludwig said. “But at the same time, we are witnessing an alarming decline in the opportunities for some minority workers to earn a living wage, which is undoubtedly a reason for concern. The bottom line: we can do better.”
About TRU
LISEP issued the white paper “Measuring Better: Development of ‘True Rate of Unemployment’ Data as the Basis for Social and Economic Policy” upon announcing the new statistical measure in October 2020. The paper and methodology can be viewed here. LISEP issues TRU one to two weeks following the release of the BLS unemployment report, which occurs on the first Friday of each month. The TRU rate and supporting data are available on the LISEP website at https://www.lisep.org/tru.
About LISEP
The Ludwig Institute for Shared Economic Prosperity (LISEP) was created in 2019 by Ludwig and his wife, Dr. Carol Ludwig. The mission of LISEP is to improve the economic well-being of middle- and lower-income Americans through research and education. LISEP’s original economic research includes new indicators for unemployment, earnings, and cost of living. These metrics aim to provide policymakers and the public with a more transparent view of the economic situation of all Americans, particularly low- and middle-income households, compared with misleading headline statistics.
About Gene Ludwig
In addition to his role as LISEP chair, Gene Ludwig is founder of the Promontory family of companies and Canapi LLC, a financial technology venture fund. He is the founder and CEO of Ludwig Regulatory Group (LRG), which advises financial firms on critical matters. Ludwig is the former vice chairman and senior control officer of Bankers Trust New York Corp. and served as the U.S. Comptroller of the Currency from 1993 to 1998. He is also author of the book The Vanishing American Dream, which investigates the economic challenges facing low- and middle-income Americans. On Twitter: @geneludwig.
SOURCE Ludwig Institute for Shared Economic Prosperity
Summer is supposed to be the season of yes: yes to rooftop drinks, weekend flights, beach clubs, festivals, and finally trying that hobby you’ve been bookmarking since January. But according to a new Dating.com analysis, the “main character summer” lifestyle can come with a very real price tag—especially if you’re paying for everything on your own.
Dating.com’s latest report, Dating.com Reveals the Most Expensive Cities to Be Single in Summer 2026, looked at 50 popular destinations worldwide and ranked them by what it calls a Single Tax Score—a composite measure of the costs singles are likely to face during peak summer months.
Why being single can cost more than you think
The study builds on Dating.com’s earlier findings that 43% of singles focus on self-care—from gym memberships and skincare to solo dates and travel. At the same time, 41% of singles say they’d feel less lonely if they had more money, underscoring how financial flexibility can influence how often people can say yes to experiences that build connection.
Dating.com’s resident therapist, Jaime Bronstein, LCSW, notes that the assumption “single = cheaper” often doesn’t hold up. Couples can split rent, transportation, meals, and entertainment, while singles absorb the full cost alone—plus summer’s calendar tends to be packed with higher-priced social events and trips.
The 10 most expensive cities to be single in Summer 2026
Here are the top destinations where the summer “single tax” hits hardest, based on Dating.com’s ranking.
1) Miami (Single Tax Score: 75)
Miami takes the top spot thanks to steep nightlife and entertainment costs. Dating.com estimates:
- $110 for a solo date night
- $200/night for beach clubs and nightlife venues
- $280/night average summer hotel rates
2) New York (74)
New York lands at #2 with high costs across nearly every category:
- $115 average solo date night
- $380/night average summer hotel rates
Even without flight costs for locals, accommodation and social spending push NYC near the top.
3) Mykonos (72)
Europe’s most expensive destination for singles on the list, Mykonos is priced like a fantasy:
- $1,900 average summer flights from New York
- $280/night beach club and nightlife costs (highest in the study)
- $300/night average hotels
4) Las Vegas (70)
Vegas is built for entertainment—and the bill reflects it:
- $250 average festival/concert tickets (highest among the top ten)
- $180/night nightlife costs
- $145/night average hotels (relatively affordable, but spending adds up fast)
5) Boston (67)
Boston’s biggest driver is lodging:
- $390/night average summer hotel stays (highest of any city in the top ten)
- $108 average solo date night
6) Maldives (64)
A classic “romantic” destination that gets especially expensive solo:
- $480/night average hotels (highest in the top ten)
- $1,300 average summer flights from New York
- $124 average solo date night
7) San Francisco (62)
San Francisco remains costly for both travel and everyday experiences:
- $820 average flights from London
- $100 typical solo date
- $245/night average hotels
8) Los Angeles (61)
LA’s premium social scene pushes it into the top ten:
- $100 average solo date night
- $820 average flights from London
- $22 average rooftop cocktail
9) London (61)
London’s costs are driven by international travel and peak-season lodging:
- $1,900 average flights from New York
- $295/night average hotels
- $108 average solo date
10) Santorini (61)
Like Mykonos, Santorini’s popularity inflates nearly every summer expense:
- $1,900 average flights from New York
- $160/night beach club and nightlife costs
- $310/night average hotels
What to watch for (and how to plan smarter)
The takeaway isn’t “don’t travel” or “don’t go out.” It’s that destination choice can dramatically change the cost of a solo summer, and singles may want to budget differently than couples.
If you’re planning a solo trip (or just trying to make the most of where you live), consider:
- Swapping one premium hotspot for a value city (the ranking includes lower-cost options like Bangkok, Medellín, Mexico City, and Kuala Lumpur)
- Prioritizing experiences that don’t scale with group size (museums, walking tours, day trips, free festivals)
- Booking lodging early in high-demand cities where hotels are doing the most damage
As Bronstein emphasizes, being single isn’t a problem to solve—and solo experiences can be just as meaningful as romantic ones. The goal is to make sure your summer plans support your life, not stress your wallet.
Methodology (in plain English)
Dating.com reviewed 50 popular destinations and analyzed costs associated with being single in summer, including:
- Date night costs for one person
- Summer hotel rates
- Summer flight costs
- Rooftop cocktail prices
- Festival and concert ticket prices
- Beach club costs
- Pet-related surcharges
- Other seasonal leisure expenses
Each factor was normalized on a 0–1 scale (with 1 representing the highest cost), then combined into a final score to rank cities from most to least expensive for singles.
Source: Dating.com, via PRNewswire (June 25, 2026)
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Consumer Corner
65% of US homeowners say owning a home costs more than expected. Staying put is getting harder, too.
(Tiffany Miller) For years, homeownership was pitched as the finish line. Save for the down payment, buy the house and build wealth over time. According to new research from Unlock, a company that helps homeowners access the equity in their home, 75% of U.S. homeowners say they have no plan to buy or sell a home this year. That sounds like stability. But as the research reveals, it is starting to feel more like stagnation.
Owning a home turns out to cost more than people thought it would, according to the survey of 2,003 homeowners in the United States, conducted in January 2026. The research found that 65% of U.S. homeowners say it is more expensive than what they expected before they bought. The math goes past the mortgage. Nationwide, property taxes climbed 41% between 2018 and 2025, according to the Lincoln Institute of Land Policy, with home insurance, maintenance and everyday costs piling on top.
Homeowners are cutting back in places that used to be off-limits. Twenty-two percent of respondents reported putting less into retirement to keep up with the cost of owning their home. Another 33% are putting off bigger purchases, like a car. These are not inconsequential cuts. They are cuts to the financial goals owning a home is supposed to make easier in the first place, like building a nest egg, growing an emergency fund or saving for the future.
The pressure shows up in the present, too. Nearly a third of homeowners have less than $1,000 in emergency fund savings. More than half say day-to-day expenses are causing significant stress in their lives.
It is not only about cutting back or feeling stressed about day-to-day expenses. The survey found 19% of U.S. homeowners say they would rather double their commute time to work than take on another monthly payment. For homeowners already paying a mortgage, insurance, taxes and maintenance, another bill ranks below an extra hour in traffic.
Costs are only half the story. Homeowners are also sitting on real wealth, though they cannot always say how much. The survey found almost half of U.S. homeowners are not sure how much equity they have built up in their home, including 28% who say they are not sure how to find out. The average mortgaged home in the U.S. holds about $299,000 in equity, according to Cotality, a data and analytics company.
Ask homeowners how they feel about having equity in their homes and the answers do not quite line up. Sixty percent say the option to leverage home equity provides an extra level of financial security. Yet 48% say they view home equity as long-term wealth and retirement security, and would only leverage it as a last resort. They want the option there. They just do not want to use it.
The result is a kind of holding pattern. Homeowners are paying more, staying put in homes they cannot easily afford to leave and sitting on wealth they would rather not disturb. The usual options come with a catch. Selling means moving. Refinancing means giving up a low locked-in mortgage rate. According to Realtor.com, 51.5% of outstanding U.S. mortgages still carry rates at or below 4%. Taking out a home equity line of credit or home equity loan adds another monthly payment. Each option asks for something homeowners are trying to avoid. The open question is whether the standard options are still the only options. What used to look like a financial finish line is starting to look more like a treadmill.
Methodology
Unlock commissioned Atomik Research to conduct an online survey of 2,003 homeowners in the United States. The margin of error is plus or minus 2 percentage points at a 95 percent confidence level. Fieldwork was conducted from Jan. 24-30, 2026. Atomik Research, part of 4media group, is a creative market research agency.
Photo courtesy of Shutterstock
SOURCE:
Unlock
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Understanding and Improving Business Credit Can Support Financing Readiness, Credibility and Long-Term Confidence
(Feature Impact) Nearly 60% of small business owners seek financing each year, according to the Federal Reserve’s 2025 Small Business Credit Survey, but only about 2 in 5 secure the full amount they request.
It’s not uncommon for business owners to be caught off guard by a credit issue just when they’re poised to take their companies to the next level. To help business owners better understand how business credit can aid growth, consider this information from Chase for Business.
The Hidden Impact of Business Credit
Many owners miss the importance of business credit – 74% of business owners have used personal credit cards or lending products that rely on their personal credit score for business purposes, according to a May 2026 Chase small business survey. However, business credit can play an important role in accessing capital, managing operations and planning for the future. Without a clear understanding of their business credit profiles, owners may miss out on opportunities or face unexpected challenges when seeking loans, negotiating with suppliers or expanding their businesses. That’s why it’s essential for small business owners to proactively monitor and manage their business credit.
Managing Business Credit
To help millions of small business owners better understand and manage this part of their financial picture, Chase for Business introduced Business Credit Journey, a complimentary digital tool designed to help owners establish, monitor and improve their business credit.
The tool brings together credit monitoring, score insights, actionable steps and educational resources in one place. It builds on the American Dream Initiative, a nationwide effort to help power 10 million small businesses, offering resources beyond basic credit tracking to help owners spot issues early, understand what’s driving their scores and take action before opportunities slip away.
“Small business owners aren’t overlooking business credit, they just can’t see it clearly or aren’t sure how to use that information,” said Jameson Troutman, head of product for Chase for Business. “This tool is meant to change that, offering owners an easier, accessible way to understand their business credit scores and empowering them to take action over time.”
Why Business Credit Matters
Business credit is only one part of the financing equation, but it can influence how prepared a business is for future opportunities, help owners make informed decisions and avoid surprises when it matters most.
Why Business Credit Can be Easy to Overlook
For many owners, business credit is easy to put off while managing the daily demands of running their businesses. That can be especially true when they’re focused on growth, and nearly 80% of business owners expect growth in 2026, according to Chase’s Business Leaders Outlook.
In that environment, business credit may not get attention until a financing need or growth opportunity puts it into focus. That often means businesses confront their credit profile only when it starts to limit their options.
How Digital Tools Can Help
Created to make business credit easier to understand and manage, the tool allows business owners to monitor their credit scores, see what is influencing them and receive insights and actionable steps tailored to their business profile. It’s designed to help owners stay on top of changes over time and take a more proactive approach to strengthening their business credit.
“Small business owners deserve resources that help them make more informed decisions,” Troutman said.
For many small businesses, credit only becomes visible when something depends on it. Having a clearer view earlier can change the decisions owners make long before that moment. Visit chase.com/business/creditjourney to learn more.
SOURCE:
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