11% of Americans are on Food Stamps …Retirees forced to return to work as inflation eats into savings… JPMorgan: The US economy is in a ‘selective recession’

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A wave of America’s retirees are dusting off their résumés and stepping back into the workforce, seeking financial stability as inflation changes the trajectory of their golden years.

“I’ve been back to work twice already, but now with watching the grandchildren, trying to help out the younger generation, I’ve had to look for work that can work with my schedule and work with the schedule that I do with the kids,” Joyce Fleming, a retired nurse who was pushed back into employment, told “FOX & Friends” on Wednesday.

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Fleming has considered opening a daycare in her own home so she could make money while watching her grandchildren, but that would more than likely require full-time status.

The US economy is in a ‘selective recession’ as lower-income consumers can’t cover the cost of living, JPMorgan says
The US economy is in a “selective recession,” as lower-income Americans are struggling to get by while upper-income consumers are doing just fine, according to JPMorgan analyst Matthew Boss.

Speaking to CNBC on Tuesday, Boss pointed to the divergence in upper-income and middle-to-lower income Americans, the latter of whom are struggling to keep up with the rising cost of living as prices remain elevated and savings dwindle.

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“You have the consumer at the high end who is being more choiceful. The low-end I do think is a melting ice cube … What I’m calling it now is a selective recession,” Boss said. “y our survey, over 70% of low-income consumers right now are saying that they’re struggling to make ends meet.”


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