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Poverty hit a record low overall in the U.S. last year, but U.S. seniors are an exception to that good news. For five years running, poverty has been up for that group. NPR's Jennifer Ludden reports on a new survey that aims to figure out what's going on.
JENNIFER LUDDEN, BYLINE: The latest federal data on poverty is from last year, but the economy, inflation, prices, interest rates - it's changing fast. The AARP Foundation has started surveying low-income, older adults every quarter to see how they're coping, and it includes people in the crucial years before retirement.
CLAIRE CASEY: We are seeing people 50 to 64, by every single measure, in a more precarious position.
LUDDEN: Claire Casey is president of AARP Foundation, the philanthropic affiliate of AARP.
CASEY: Sixty-plus percent saying that they're worried about paying for food. Over 40% saying they ran out of food in the last month.
LUDDEN: Most say they don't have enough savings to cover a $500 emergency expense, and just under a third report a significant drop in household income in the previous three months. Casey says what may be a small crisis for many - say, a car breaks down or a family member needs childcare - can be devastating for older low-wage workers.
CASEY: You're much more likely to end up in the long-term unemployed, and you're much more likely to end up in a job that makes less than the one you were in.
LUDDEN: The foundation surveys show more older adults this year are taking on a second job. But Casey says it's clear during what's supposed to be peak earning years, many low-wage workers struggle to save up much at all for retirement. Census Bureau data shows that Social Security helps keep millions out of poverty, but even for those doing OK, rising costs are difficult.
KEN HEIDEMAN: I am hollowing out my savings to make up the deficits that I have.
LUDDEN: Ken Heideman is 67 and lives in Nashua, New Hampshire. His budget deficit is from things like gas, which spiked after the U.S. started the war with Iran.
HEIDEMAN: And that translates to probably 90 or $100 more a month for that. Groceries - another hundred bucks for that.
LUDDEN: And those are just the price hikes that are easy to see.
HEIDEMAN: When everything is going up, in a way, it can be like the frog in the boiling pot of water, you don't really see how bad it is till you get up to the cash register and say, well, how did that happen?
LUDDEN: Heideman worries his situation may get worse because he doesn't see the cost of living getting better anytime soon.
Jennifer Ludden, NPR News.
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