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New data shows elderly New Yorkers face financial hardship

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A new study shows more older New Yorkers are living in poverty than ever — with many senior citizens having no money saved and returning to work. In association with the AARP, the Center for an Urban Future (CUF) released new data showing 18.4% of seniors living in poverty, and increase of nearly 41% over the past decade. Nearly 60% of Big Apple septuagenarians and their elders reported no ...
The article from Yahoo News discusses a study revealing that elderly New Yorkers, particularly those aged 65 and above, are facing significant challenges in affording their basic needs due to rising inflation. The data, analyzed by the Center for an Urban Future, indicates that over 200,000 seniors in New York City are struggling to cover essentials like food, housing, and healthcare. The study highlights that the cost of living has increased by 17% since 2020, while many seniors rely on fixed incomes that have not kept pace with inflation. This situation has led to increased food insecurity and housing instability among the elderly population, prompting calls for more robust social support systems and policy interventions to address these growing concerns.

Read the Full NY Daily News Article at:
[ https://www.yahoo.com/news/data-shows-elderly-yorkers-face-001600308.html ]