This study seeks to assess Philadelphians’ experiences related to income, work, expenses, and life satisfaction. The research blends results from the Philadelphia Fed’s Survey of Economic Mobility (SEM) with focus group findings. SEM surveyed Philadelphia residents from December 2023 to August 2024. The researchers held focus groups in spring 2024 to gain deeper insight into survey responses.
Among the report’s main findings:
- People are striving for economic stability before they can consider opportunities for upward mobility. Despite sometimes working multiple jobs, people find they’re unable to make ends meet.
- Fluctuations in earnings are widespread and substantial. Only one-quarter of people surveyed said they earned the same amount over six months.
- People experience obstacles to work. The most often reported were caregiving responsibilities, health issues, or transportation access.
- Focus group participants shared that they strive to achieve economic stability in four primary ways: by cutting costs, searching for a better job or working more than one job, budgeting, or accessing government benefit programs.
- When asked, “What would be most helpful to you right now?” the most commonly selected choice was “finding a better job.” Many also chose “health and well-being assistance.”
Because of its unique longitudinal and mixed-methods approach, this study provides important insights for future researchers and policymakers on the barriers many people face to upward mobility, and the impacts of economic instability on their lives and livelihoods.
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