The stock market is booming and unemployment is at a historic low in Wisconsin, but many in the Badger state don’t feel as if this boom personally applies to their financial situation.
Laura Levina, a Chippewa Falls resident, and mom of three told Up North News that she feels her life has become one unending, out-of-balance math equation.
“I work hard. I try really hard to support my family,” Levine said. “But costs keep rising, and my income can’t keep up.”
Statistics and studies show that Levine isn’t alone.
While investors have done well amid a bullish stock market, many middle- and-lower class wage earners, some of whom have no market investments or 401k retirement plans, often have not, the outlet reported.
In November, the Wisconsin unemployment rate was just 3.3 percent, up from a record low of 2.8 percent in April and May but below historical norms. The national rate is 3.6 percent.
However, studies have found that many in Wisconsin and elsewhere don’t benefit from those factors, Up North News reported.
“Paying for housing and other living costs is becoming more and more of a struggle for a growing number of people,” Michael Basford, director of the Wisconsin Department of Administration’s Interagency Council on Homelessness told Up North News. “If we don’t start to work on this issue more effectively, we will face a crisis.”
Read more about the economic struggles for Wisconsinites here.