Thursday, September 17, 2015

Sluggish Household Growth 2014-15

The number of households in the United States grew by just 0.53 percent between 2014 and 2015—from 123.9 million to 124.6 million, according to the Census Bureau's Current Population Survey. This is the fifth slowest rate of growth in more than five decades of keeping score. One factor behind the sluggish growth was the 4.2 percent decline in the number of households headed by the youngest adults. Here is the numerical (and percent) change in households by age of householder...

Change in households, 2014 to 2015 (numbers in 000s)
Total households:  656 ( 0.5%)
Under age 25:      -282 (-4.2%)
Aged 25 to 34:        87 ( 0.4%)
Aged 35 to 44:       -43 (-0.2%)
Aged 45 to 54:       -98 (-0.4%)
Aged 55 to 64:      114 ( 0.5%)
Aged 65-plus:       877 ( 3.0%)

The decline in households headed by people aged 35 to 54 is due to the small Generation X moving into those age groups. The increase in households headed by people aged 55 or older is due to the large Baby-Boom generation in those age groups. 

Source: Census Bureau, Income and Poverty in the United States: 2014

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