Cash Crunch, for Many, Is a Monthly Woe

http://www.wsj.com/articles/cash-crunch-for-many-is-a-monthly-woe-1432094467

The recession exacerbated the income insecurity. Some 18% of families reported their actual income was temporarily below their usual income in 2013, according to a Federal Reserve study published last year. That was down from 25% in 2010, but up from 14% before the recession hit in 2007.
Stagnant wages have added to the problem. Incomes rose 22% for the average household from 1979 to 1999, according to the Pew Charitable Trusts, fueling swift gains in consumption that masked growing volatility. Incomes grew just 2% from 1999 to 2009, and have been flat since then for most workers.
Additionally, around 7.1 million Americans, or nearly 5% of the workforce, held multiple jobs in April. Meanwhile, some 6.6 million Americans had part-time jobs but wanted full-time work. While that is down from more than 9 million in 2009, it is still more than 40% above the pre-recession level.
J.P. Morgan’s inaugural report from its new in-house data lab is one of the first to examine month-to-month swings in both income and consumption, drawing on detailed account information from a sample of 2.5 million account holders.