(Crain’s) — A survey of low-income New Yorkers shows that half have less than $500 in savings to fall back on and one-third have no savings at all. The annual survey, commissioned by the Community Service Society of New York, defines low-income New Yorkers as those earning less than 200% of the federal poverty level, or less than $44,100 for a family of four. It presents an unforgiving picture of how hard life can be for poor New Yorkers, detailing hardships ranging from difficulty paying for medical care to finding enough work.
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