Measuring the True Cost of Economic Security
With this new True Cost of Economic Security methodology, developed by the Urban Institute and commissioned by the coalition, we now have a way to evaluate economic security for American families. Because it does more than look at basic needs, this new measure will help shift the national conversation to what Americans need to thrive, not just survive.
Among the report’s findings:
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Half of all people fall below the TCES line. While many are able to pay their bills, most are unable to save for the future.
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Low resources rather than high costs characterize places with the highest TCES rates.
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There is a near 40 percentage point difference in economic security rates for households that own their homes and those that don’t.
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Three out of five children live in families with resources below the TCES line.
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Over 40 percent of people living in families with a full-time, full-year worker lack the resources to meet the TCES threshold.
None of these are new problems. They have been happening for decades – over years and across presidential administrations and Congresses. We just haven’t had the ability to measure it.
The True Cost of Economic Security: What Does It Take to Thrive in the US Today?
The Urban Institute and the National True Cost of Living Coalition discuss the new measure and how policymakers and researchers can leverage insights from this research to improve American families’ well-being.
Read about the True Cost of Economic Security methodology and the National True Cost of Living Coalition in the news
Join the National True Cost of Living Coalition
Be a catalyst for change!
Become a member today to help us expand awareness and educate on what a True Cost of Economic Security methodology would mean for everyday American families needing to live, work, take care of their loved ones and plan for the future.
Join us now and help drive meaningful change.