Weak wage growth leads to feelings of financial insecurity

(Getty Images)

(Getty Images)

Officially, the U.S. and Florida job markets are on the mend. Unofficially, Americans still don’t feel all that chipper about their financial prospects.

Despite an improving economy, Bankrate.com said Tuesday that its Financial Security Index is at its lowest point in 19 months.

“A key reason why Americans aren’t feeling as rosy about their finances is stagnant income,” says Greg McBride, chief financial analyst at Bankrate.com. “Although the market continues to add more jobs, with the supply of workers in many fields outweighing the demand, there have been fewer pay raises.”

Income insecurity is underscored by the job market in Palm Beach County — where the three most commonly held jobs (retail sales, waiter/waitress and cashier) come with median wages of $10 an hour or less.

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