5 Nevertheless banks continue to record profits, fueled in large part by credit card income. Downsizing , economic dislocation, income disruptions and underemployment . Families are increasingly impacted by instability in employment income, particularly at the lower end of the wage spectrum. Although unemployment remains low, many workers file bankruptcy after being forced to shift to lower paying jobs. 8 Rising debt to income ratios .
More families have more debt.
Another factor is the unprecedented increase in the cost of education and the corresponding increase in student loan debt. 11 Reliance on two wage earners to make ends meet. This change in a fundamental condition of the economy means that every family has double the risk. With two wage earners vulnerable to income instability, any change for either one creates enormous pressure on the family budget. Child-bearing and time off to raise children means that a family which was getting by on two incomes is forced to rely on only one.