Posted 1/23/2024, 6:54:00 PM
Financial Stress Among US Consumers Hits 21-Month High Despite Economic Strength
- LegalShield's Consumer Stress Legal Index showed financial stress among US consumers is the highest since November 2020
- The index measures upticks in bankruptcies, foreclosures, and other money problems
- It has climbed for 10 straight months and is a leading indicator of consumer confidence
- The increase comes despite economic strength and optimism on Wall Street
- Factors like inflation, interest rates, and student loans are seen contributing to continued rises in stress