A Third of Granite State Adults Reported Some Difficulty Paying for Usual Household Expenses

According todatafrom the U.S. Census Bureau, more than one in three Granite State adults found paying for usual household expenses somewhat or very difficult from January 2023 through October 2023. The percentage of New Hampshire residents reporting difficulty paying household expenses has been relatively stable for the last two years, but is significantly higher than the approximately one in five adults who reported difficulty affording expenses during the Summers of 2020 and 2021. Data collected since early 2020 suggest that federal assistance associated with COVID-19, including the monthly Advance Child Tax Credit payments, helped reduce financial hardship. The rise in consumer prices in early 2022, particularly in the immediate aftermath of Russia’s invasion of Ukraine, began a period of increased hardship and followed the expiration of key assistance. 

This Data Byte is an update from the previously published Data Byte found here.