Today’s Lead Story
Friday, June 5Personal Finance
U.S. Savings Rate Hits 2.6% — Lowest Level in Nearly Four Years
via Bureau of Economic Analysis
The U.S. personal savings rate fell to 2.6% in April, the lowest since June 2022, as inflation running at 3.8% continued to outpace wage growth of 3.6%. A year earlier, Americans were setting aside 5.8% of their disposable income.
Why it matters
With savings at historic lows, most households have little buffer before an unexpected bill — a car repair or medical co-pay — pushes them toward credit card debt.
