New research shows most U.S. households don't make enough money to pay the minimum costs to lead a quality life — even when workers have full-time employment.

A study from the Ludwig Institute for Shared Economic Prosperity measured the "minimum quality of life" for a range of households, from those with a single member with no children up to those with a couple raising three children.

The Ludwig Institute defines the minimum quality of life as a standard that includes basics — housing, healthcare, food and transportation costs — as well as the costs that come with raising a family, paying for technology and clothing and enjoying basic leisure. These categories, the institute says, "reflect the day-to-day expenses necessary for low- and middle-income Americans to live decently and establish a foundation for future advancement."

Using that quality of life benchmark, the institute has found since 2001, median earnings have declined by 4% and the costs of achieving economic security have increased by 99.5%. Housing, healthcare and education costs have all climbed by more than 100%, well outpacing the rate of inflation.

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In 2023, researchers said, the lowest 60% of households by earning power earned 22.1% of all available disposable income. They would need to earn 39% of the total to meet the institute's threshold for a minimal quality of life.

“Traditional headline economic indicators like GDP and unemployment tell us the economy is thriving, but they don’t reflect the lived reality of most Americans,” LISEP Chairman Gene Ludwig said. “Americans are working harder than ever, fueling our economic growth, but the benefits of that hard work are not being distributed in a way that supports upward mobility for too many middle- and low-income Americans."