New financial data reveals that more Americans are living paycheck to paycheck.

The study, released by Bank of America on Tuesday, defined households as living paycheck to paycheck if their necessity spending exceeded 95% of their income, meaning the majority of a household’s immediate earnings went toward basic necessities.

24% of households living paycheck to paycheck

By the numbers:

The data found that nearly a quarter of all households (24%) are estimated as living paycheck to paycheck this year.

While this is an increase in the number of households year-over-year living paycheck to paycheck (0.3 percentage points), Bank of America said the pace of growth is nearly three times lower than last year.

However, there has been little to no increase in the share of middle- or higher-in

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