60% of Americans are still living paycheck to paycheck as inflation hits workers’ wages

After a prolonged period of high inflation and higher interest rates, Americans are just getting by.

As of August, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report, unchanged from last year.

Recent data is painting a mixed picture of where the economy stands. Inflation has shown some signs of cooling but the consumer price index, which measures costs across a broad array of goods and services, is still up 3.7% from a year ago, according to the U.S. Bureau of Labor Statistics’ August reading.

Those higher prices have weighed on worker paychecks. Real average hourly earnings declined 0.5% for the month, the U.S. Department of Labor said in a separate release.