The increase in liquidity among Americans has allowed them to make purchases, invest and engage in economic activities that were previously out of reach|@dotcromwell|Giphy

Americans have improved their financial situation. Recent data reveals that people in the U.S. have 10% to 15% higher amounts in their bank accounts than in 2019.

Furthermore
Last month, hourly wages increased by 4%, outpacing the increase in consumer goods prices, which rose by a modest 3%.

Increased liquidity allows consumers to make purchases, invest and engage in economic activities that were previously out of reach.

As individuals benefit from the newfound financial stability, it creates a positive economic outlook for the future.

But
Median account balances are at their lowest in nearly three years at 41% from their peak in April 2021, per a JPMorgan analysis of the bank accounts of 9 million customers.

These data points explain how the country has managed to avoid a recession.

However, Europe is feeling the pinch
According to a Wall Street Journal report, Europeans are becoming poorer. The continent plunged into recession at the beginning of the year as the Russia-Ukraine war, an aging population and the pandemic wreaked most countries’ economies.