Median household income did not change between December 2012 and January 2013, according to the latest monthly update from Sentier Research. The January median of $51,584 was $46 more than the December median, a change that was not statistically significant.
Median household income in January 2013 was 4.5 percent lower than the median in June 2009, the end of the Great Recession. It was 6.2 percent lower than the median in December 2007, the start of the Great Recession. It was 7.3 percent lower than the median in January 2000. The Household Income Index for January 2013 was 92.7 (January 2000 = 100.0).
Source: Sentier Research, Trends in Household Income: January 2013
Thursday, February 28, 2013
Cuts? What Cuts?
Despite all the hyperbole about the need to cut government spending, fewer Americans are in the mood for budget cuts today than in 1980--with one exception.
According to a Harris survey, fewer Americans today than in 1980 favor cuts in government spending on a variety of programs including foreign aid, business subsidies, welfare, food stamps, housing programs, farm subsidies, scientific research, mass transit, pollution control, aid to cities, job training, highway financing, revenue sharing, health care, education, Social Security, and even space programs.
But, a growing share of the public wants to cut defense spending. Forty-six percent of the public wants to cut spending on defense, up substantially from the 34 percent of 1980.
Source: Harris Interactive, Sequester and Automatic Spending Cuts are Days Away but Majorities of Americans Oppose Cuts in Many Big Ticket Items
According to a Harris survey, fewer Americans today than in 1980 favor cuts in government spending on a variety of programs including foreign aid, business subsidies, welfare, food stamps, housing programs, farm subsidies, scientific research, mass transit, pollution control, aid to cities, job training, highway financing, revenue sharing, health care, education, Social Security, and even space programs.
But, a growing share of the public wants to cut defense spending. Forty-six percent of the public wants to cut spending on defense, up substantially from the 34 percent of 1980.
Source: Harris Interactive, Sequester and Automatic Spending Cuts are Days Away but Majorities of Americans Oppose Cuts in Many Big Ticket Items
Wednesday, February 27, 2013
Working Women More Likely to be Dependents
Among the nation's employed, women are much more likely than men to have their health insurance provided by someone else's employer, This is called dependent coverage and is typically provided by a spouse. Here is the percentage of workers aged 26 to 64 who have employer-provided health insurance coverage through somebody else's employer...
Aged 26 to 44
Men: 8.8%
Women: 21.4%
Aged 45 to 64
Men: 12.7%
Women: 23.3%
Source: Census Bureau, Employment Based Health Insurance: 2010
Aged 26 to 44
Men: 8.8%
Women: 21.4%
Aged 45 to 64
Men: 12.7%
Women: 23.3%
Source: Census Bureau, Employment Based Health Insurance: 2010
Non-Hispanic White Occupations
Which occupation is the most non-Hispanic white? That's not easy to figure out because, for some reason, the Bureau of Labor Statistics is exempt from the requirement to publish labor force data by the same race-and-Hispanic-origin categories everyone else is using these days. That's why, in labor force statistics, you see the archaic "white" racial category, which still includes Hispanics. Not helpful! Because the non-Hispanic white population is much older than the Hispanic population, combining the two is an obstacle to understanding non-Hispanic white labor force trends.
But, I digress. By fiddling around with one of the massive 2012 labor force tables (subtracting Asians, blacks, and Hispanics from the total), you can get a rough estimate of the non-Hispanic white share of each occupation. And the most non-Hispanic white occupations are...
1. Farmers, ranchers: 94.0%
2. Chiropractors: 92.5%
3. Veterinarians: 90.7%
At the other end of the scale, the least non-Hispanic white occupation is "graders and sorters of agricultural products." Only 23 percent of workers in this occupation are non-Hispanic white.
Source: Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey
But, I digress. By fiddling around with one of the massive 2012 labor force tables (subtracting Asians, blacks, and Hispanics from the total), you can get a rough estimate of the non-Hispanic white share of each occupation. And the most non-Hispanic white occupations are...
1. Farmers, ranchers: 94.0%
2. Chiropractors: 92.5%
3. Veterinarians: 90.7%
At the other end of the scale, the least non-Hispanic white occupation is "graders and sorters of agricultural products." Only 23 percent of workers in this occupation are non-Hispanic white.
Source: Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey
Tuesday, February 26, 2013
Love It or Leave It
Percentage of Americans who would like to move permanently to another country: 11%
Percentage of Mexicans who would like to move permanently to another country: 11%
Source: Gallup, Desire to Leave Same in U.S. and Mexico
Percentage of Mexicans who would like to move permanently to another country: 11%
Source: Gallup, Desire to Leave Same in U.S. and Mexico
Monday, February 25, 2013
Debt of Older Americans
Most older Americans are in debt, according to the Employee Benefit Research Institute. Among households headed by people aged 55 or older, the percentage in debt grew from 54 to 63 percent between 1992 and 2010. The median amount owed by those with debt grew from $16,683 to $55,400 (in 2010 dollars) during those years.
Among older householders, the biggest increase in debt occurred among those aged 65 to 74. About half were in debt in 1992 (51.5 percent), and by 2010 the figure had grown to 65 percent. Even worse, the median amount owed by the debtors in this age group ballooned from $7,583 to $44,600 between 1992 and 2010 (in 2010 dollars).
Source: Employee Benefit Research Institute, Debt of the Elderly and Near Elderly, 1992-2010
Among older householders, the biggest increase in debt occurred among those aged 65 to 74. About half were in debt in 1992 (51.5 percent), and by 2010 the figure had grown to 65 percent. Even worse, the median amount owed by the debtors in this age group ballooned from $7,583 to $44,600 between 1992 and 2010 (in 2010 dollars).
Source: Employee Benefit Research Institute, Debt of the Elderly and Near Elderly, 1992-2010
Sunday, February 24, 2013
Long-term Uninsured
Many Americans have not had health insurance for a long time. Among people under age 65, 1 in 12 was without health insurance for the four-year period from 2007 through 2010, according to the Medical Expenditure Panel Survey.
Overall, 8 percent of people under age 65 are long-term uninsured--meaning they have gone at least four years without health insurance. Hispanics are a large share of this group. Although Hispanics account for only 18 percent of the population under age 65, they are 40 percent of the long-term uninsured.
Source: Medical Expenditure Panel Survey, The Long-Term Uninsured in America, 2007-2010 (Selected Intervals): Estimates for the U.S. Civilian Noninstitutionalized Population under Age 65
Overall, 8 percent of people under age 65 are long-term uninsured--meaning they have gone at least four years without health insurance. Hispanics are a large share of this group. Although Hispanics account for only 18 percent of the population under age 65, they are 40 percent of the long-term uninsured.
Source: Medical Expenditure Panel Survey, The Long-Term Uninsured in America, 2007-2010 (Selected Intervals): Estimates for the U.S. Civilian Noninstitutionalized Population under Age 65
Saturday, February 23, 2013
Economic Status of Children
Percent distribution of children under age 18 by family income in 2011...
Less than $25,000: 23.1%
$25,000 to $49,999: 22.6%
$49,999 to $74,999: 17.1%
$75,000 to $99,999: 12.4%
$100,000 or more: 24.9%
Source: Census Bureau, America's Families and Living Arrangements: 2012
Less than $25,000: 23.1%
$25,000 to $49,999: 22.6%
$49,999 to $74,999: 17.1%
$75,000 to $99,999: 12.4%
$100,000 or more: 24.9%
Source: Census Bureau, America's Families and Living Arrangements: 2012
Friday, February 22, 2013
Slouching Toward Retirement
Percentage of older married couples in which neither husband nor wife is in the labor force...
Aged 55 to 64: 15%
Aged 65 to 74: 54%
Aged 75-plus: 82%
Source: Census Bureau, America's Families and Living Arrangements: 2012
Aged 55 to 64: 15%
Aged 65 to 74: 54%
Aged 75-plus: 82%
Source: Census Bureau, America's Families and Living Arrangements: 2012
Thursday, February 21, 2013
What is a Small Business?
How do you define small business? Probably not the way the government defines it, which is any business with fewer than 500 employees. That's right, 500. Because the government defines "small" so broadly, the category includes 99.9 percent of all firms and 99.7 percent of all employers in the United States...rendering the term meaningless. What's up with that?
Source: Small Business Administration, 2012 Small Business Profiles for States and Territories
Source: Small Business Administration, 2012 Small Business Profiles for States and Territories
Children Are Eating Less
In a surprising finding, the CDC reports that American children are eating less. The data come from the National Health and Nutrition Examination Survey, which collects information through in-home interviews with a nationally representative sample of Americans. Respondents are asked to detail what they ate in the previous 24-hours. The results show that, on average, boys aged 2 to 19 consumed 2,100 calories a day in 2009-10, down from 2,258 per day in 1999-2000 (a 7 percent decline). Girls averaged 1,755 calories a day in 2009-10, down from 1,831 a decade earlier (a 4 percent decline).
This is good news, right? Technically, yes. Childhood obesity has been a growing problem and cutting calories may help shed pounds. But there's a darker side to the cutback--the possibility that it reflects a declining standard of living among families with children.
Researchers have long known that increased calorie consumption accompanies economic development. This happens because food prices typically fall relative to income in developed countries, allowing people to eat more for less (for more about this, see the NBER study Why is the Developed World Obese?). Conversely, if food prices rise relative to income, then caloric intake should fall. Among families with children, median household income fell 11 percent between 2000 and 2010, after adjusting for inflation. Among married couples with children, spending on food as a share of median household income was stable at 13 percent during those years. But among single-parent families headed by women, spending on food as a share of income grew from 19 to 21 percent during the decade. This may be why American children are eating less.
Source: National Center for Health Statistics, Trends in Intake of Energy and Macronutrients in Children and Adolescents from 1999-2000 through 2009-2010
This is good news, right? Technically, yes. Childhood obesity has been a growing problem and cutting calories may help shed pounds. But there's a darker side to the cutback--the possibility that it reflects a declining standard of living among families with children.
Researchers have long known that increased calorie consumption accompanies economic development. This happens because food prices typically fall relative to income in developed countries, allowing people to eat more for less (for more about this, see the NBER study Why is the Developed World Obese?). Conversely, if food prices rise relative to income, then caloric intake should fall. Among families with children, median household income fell 11 percent between 2000 and 2010, after adjusting for inflation. Among married couples with children, spending on food as a share of median household income was stable at 13 percent during those years. But among single-parent families headed by women, spending on food as a share of income grew from 19 to 21 percent during the decade. This may be why American children are eating less.
Source: National Center for Health Statistics, Trends in Intake of Energy and Macronutrients in Children and Adolescents from 1999-2000 through 2009-2010
Wednesday, February 20, 2013
Homeownership among Young Adults by Region
Young adults are struggling to find stable jobs in a recovering economy. Underemployed and burdened by student loans, many are delaying marriage and children. The plummeting homeownership rate of 30-to-34-year-olds (the traditional age of first-time home buying) is evidence of the turmoil in their lives.
Nationally, only 47.9 percent of 30-to-34-year-olds owned a home in 2012, down from the 57.4 percent majority in 2004 (the year the nation's homeownership rate peaked). Here are the homeownership rates for this age group by region in 2012, and the percentage point change in their homeownership rate since 2004...
Northeast: 44.2% (-7.7 percentage points)
Midwest: 55.4% (-9.6 percentage points)
South: 49.5% (-9.3 percentage points)
West: 40.8% (-11.3 percentage points)
Only in the Midwest is the homeownership rate of 30-to-34-year-olds still above 50 percent.
Source: Census Bureau, Housing Vacancies and Homeownership
Nationally, only 47.9 percent of 30-to-34-year-olds owned a home in 2012, down from the 57.4 percent majority in 2004 (the year the nation's homeownership rate peaked). Here are the homeownership rates for this age group by region in 2012, and the percentage point change in their homeownership rate since 2004...
Northeast: 44.2% (-7.7 percentage points)
Midwest: 55.4% (-9.6 percentage points)
South: 49.5% (-9.3 percentage points)
West: 40.8% (-11.3 percentage points)
Only in the Midwest is the homeownership rate of 30-to-34-year-olds still above 50 percent.
Source: Census Bureau, Housing Vacancies and Homeownership
Trends in Homeownership, 2012
The annual homeownership rate fell to 65.4 percent in 2012, down from 66.1 percent in 2011 and an all-time high of 69.0 percent in 2004. The homeownership rate hasn't been this low since 1996. By age, 2012 homeownership rates look like this...
Under age 25: 21.7%
Aged 25 to 29: 34.3%
Aged 30 to 34: 47.9%
Aged 35 to 44: 61.4%
Aged 45 to 54: 71.7%
Aged 55 to 64: 77.3%
Aged 65-plus: 81.1%
Between 2010 and 2011, the biggest decline in homeownership occurred in the 35-to-39 age group (down 2.9 percentage points) because young adults who have been hesitant to buy are aging into their late thirties. Between 2004 and 2012, the 30-to-34 age group has experienced the biggest decline in homeownership, down a steep 9.5 percentage points from 57.4 to 47.9 percent (an all-time low). The 35-to-39 age group did not fare much better, with a 9.3 percentage point decline during those years (falling from 66.2 to 56.9 percent, also an all-time low).
Source: Census Bureau, Housing Vacancies and Homeownership
Under age 25: 21.7%
Aged 25 to 29: 34.3%
Aged 30 to 34: 47.9%
Aged 35 to 44: 61.4%
Aged 45 to 54: 71.7%
Aged 55 to 64: 77.3%
Aged 65-plus: 81.1%
Between 2010 and 2011, the biggest decline in homeownership occurred in the 35-to-39 age group (down 2.9 percentage points) because young adults who have been hesitant to buy are aging into their late thirties. Between 2004 and 2012, the 30-to-34 age group has experienced the biggest decline in homeownership, down a steep 9.5 percentage points from 57.4 to 47.9 percent (an all-time low). The 35-to-39 age group did not fare much better, with a 9.3 percentage point decline during those years (falling from 66.2 to 56.9 percent, also an all-time low).
Source: Census Bureau, Housing Vacancies and Homeownership
Tuesday, February 19, 2013
Most Minimum-Wage Workers Are Women
Among the 3.8 million workers in the United States who earn at or below the federal minimum wage, 63 percent are women.
Source: Bureau of Labor Statistics, Characteristics of Minimum Wage Workers: 2011
Source: Bureau of Labor Statistics, Characteristics of Minimum Wage Workers: 2011
Medicare Enrollment Rises
As the American population ages, the number of people aged 65 or older enrolled in Medicare (the federal government's health insurance program for the elderly) has been rising. But the biggest increases are yet to come: the oldest baby boomers, born in 1946, became eligible for Medicare in 2011.
Number of persons aged 65+ enrolled in Medicare
2010: 39,631,000
2000: 34,261,000
1990: 30,948,000
Source: Social Security Administration, Annual Statistical Supplement, 2012
Number of persons aged 65+ enrolled in Medicare
2010: 39,631,000
2000: 34,261,000
1990: 30,948,000
Source: Social Security Administration, Annual Statistical Supplement, 2012
Monday, February 18, 2013
Earning Power of Wives
Working wives now provide more than one-third of the income of married couples. Here is the percentage of the income of married-couple families contributed by working wives...
2010: 37.6%
2000: 33.5%
1990: 30.7%
1980: 26.7%
1970: 26.6%
Source: Bureau of Labor Statistics, Women in the Labor Force: A Databook (PDF)
2010: 37.6%
2000: 33.5%
1990: 30.7%
1980: 26.7%
1970: 26.6%
Source: Bureau of Labor Statistics, Women in the Labor Force: A Databook (PDF)
Sunday, February 17, 2013
Birth Control and Religion
Percentage of women aged 15 to 44 who have ever used birth control by religious affiliation...
No affiliation: 99.4%
Catholic: 98.6%
Fundamentalist Protestant : 99.4%
Other Protestant: 99.5%
Source: National Center for Health Statistics, National Survey of Family Growth, Contraceptive Methods Women Have Ever Used: United States, 1982-2010
No affiliation: 99.4%
Catholic: 98.6%
Fundamentalist Protestant : 99.4%
Other Protestant: 99.5%
Source: National Center for Health Statistics, National Survey of Family Growth, Contraceptive Methods Women Have Ever Used: United States, 1982-2010
Saturday, February 16, 2013
Saturday Delivery
Overall, 63 percent of Americans want to eliminate Saturday delivery of the mail. But those who are mostly likely to favor this cost-cutting move may surprise you...
Percent in favor of ending Saturday mail delivery
Aged 18 to 29: 48%
Aged 30 to 49: 64%
Aged 50 to 64: 68%
Aged 65-plus: 70%
Source: Gallup, Six in 10 Americans Favor Ending Saturday Mail Delivery
Percent in favor of ending Saturday mail delivery
Aged 18 to 29: 48%
Aged 30 to 49: 64%
Aged 50 to 64: 68%
Aged 65-plus: 70%
Source: Gallup, Six in 10 Americans Favor Ending Saturday Mail Delivery
Friday, February 15, 2013
Motor Vehicle Death Rate Plunges among Teens
Are these statistics yet more evidence that helicopter parenting works? The motor vehicle traffic death rate among 15-to-19-year-olds plunged between 1999 and 2011, falling by an astonishing 49 percent among males and 52 percent among females, according to the CDC.
Emergency Contraception
More than 1 in 10 women aged 15 to 44 has used emergency contraception, according to the National Center for Health Statistics. First approved by the FDA in 1998, at least four brands of emergency contraceptive pills are now available over-the-counter to prevent pregnancy after sexual intercourse. When women are asked why they used an emergency contraceptive, 45 percent cited birth control method failure and 49 percent blamed it on unprotected sex.
The percentage of women aged 15 to 44 who have ever used emergency contraception nearly tripled between 2002 and 2006-2010, rising from 4 to 11 percent. By age, ever-use peaks at 23 percent among women aged 20 to 24.
Source: National Center for Health Statistics, National Survey of Family Growth, Use of Emergency Contraception among Women Aged 15-44, 2006-2010
The percentage of women aged 15 to 44 who have ever used emergency contraception nearly tripled between 2002 and 2006-2010, rising from 4 to 11 percent. By age, ever-use peaks at 23 percent among women aged 20 to 24.
Source: National Center for Health Statistics, National Survey of Family Growth, Use of Emergency Contraception among Women Aged 15-44, 2006-2010
Thursday, February 14, 2013
Contraceptives Ever Used
You rarely see a number like this in survey results: 99 percent.
That number is the percentage of women aged 15 to 44 who have ever used birth control, according to the National Center for Health Statistics. By type of contraceptive, these are the birth control methods ever used by at least 10 percent of women and the percentage who have ever used them...
Condom: 93.4%
Birth control pill: 81.9%
Withdrawal: 59.6%
3-month injectable (Depo-Provera): 23.2%
Female sterilization: 19.5%
Periodic abstinence, calendar rhythm: 18.1%
Male sterilization: 13.3%
Emergency contraception: 10.8%
Contraceptive patch: 10.4%
Source: National Center for Health Statistics, National Survey of Family Growth, Contraceptive Methods Women Have Ever Used: United States, 1982-2010
That number is the percentage of women aged 15 to 44 who have ever used birth control, according to the National Center for Health Statistics. By type of contraceptive, these are the birth control methods ever used by at least 10 percent of women and the percentage who have ever used them...
Condom: 93.4%
Birth control pill: 81.9%
Withdrawal: 59.6%
3-month injectable (Depo-Provera): 23.2%
Female sterilization: 19.5%
Periodic abstinence, calendar rhythm: 18.1%
Male sterilization: 13.3%
Emergency contraception: 10.8%
Contraceptive patch: 10.4%
Source: National Center for Health Statistics, National Survey of Family Growth, Contraceptive Methods Women Have Ever Used: United States, 1982-2010
Valentine's Day Fun
When Harris Interactive asked Americans aged 18 or older whether they agreed or disagreed with the statement, "I will probably have sex on Valentine's Day," 49 percent somewhat or strongly agreed. Here is the percentage who agreed by generation...
Millennials: 57%
Gen Xers: 59%
Boomers: 46%
Matures: 25%
Source: Harris Interactive, Calling on Cupid: Men More Likely to Fear Being Single on Valentine's Day, Finds Harris Poll
Millennials: 57%
Gen Xers: 59%
Boomers: 46%
Matures: 25%
Source: Harris Interactive, Calling on Cupid: Men More Likely to Fear Being Single on Valentine's Day, Finds Harris Poll
Wednesday, February 13, 2013
Heavy Traffic
The worst part about traffic congestion is not the stop-and-go, delays, or wasted gas, but the unpredictability of it all. If you need to be somewhere at a certain time, you don't know how long your trip will take, forcing you to add extra travel time to your schedule.
That's called Planning Time as opposed to Travel Time, according to Texas A & M Transportation Institute's 2012 Annual Urban Mobility Report. The Transportation Institute has not only named this annoyance, but also measures it using the Planning Time Index or PTI. If your trip has a PTI of 3.00, that means you have to schedule 60 minutes for a trip that would take 20 minutes in light traffic if you want a 95 percent chance of getting there on time.
Average PTI varies by size of metropolitan area from a high of 4.08 in metro areas with populations of 3 million or more to 2.09 in metros with fewer than 500,000 residents. The most unpredictable commute is in Washington, D.C., which has a PTI of 5.72. In other words, when traveling the freeways around Washington, D.C., you have to multiply the estimated commute time in light traffic by six (!) to have a 95 percent chance of getting to your scheduled appointment on time.
That's called Planning Time as opposed to Travel Time, according to Texas A & M Transportation Institute's 2012 Annual Urban Mobility Report. The Transportation Institute has not only named this annoyance, but also measures it using the Planning Time Index or PTI. If your trip has a PTI of 3.00, that means you have to schedule 60 minutes for a trip that would take 20 minutes in light traffic if you want a 95 percent chance of getting there on time.
Average PTI varies by size of metropolitan area from a high of 4.08 in metro areas with populations of 3 million or more to 2.09 in metros with fewer than 500,000 residents. The most unpredictable commute is in Washington, D.C., which has a PTI of 5.72. In other words, when traveling the freeways around Washington, D.C., you have to multiply the estimated commute time in light traffic by six (!) to have a 95 percent chance of getting to your scheduled appointment on time.
The God of Sports
Does God determine who wins sporting events? Twenty-seven percent of Americans say yes, according to a survey by the Public Religion Research Institute. An even larger share of the public--the 53 percent majority, in fact--thinks God rewards athletes who have faith.
The belief that God is involved in sporting events is stronger in the South than anywhere else. Thirty-six percent of southerners believe God decides who wins. Sixty-one percent believe God rewards athletes who have faith.
Source: Public Religion Research Institute, Nearly 3-in-10 Americans Say God Plays a Role in Outcomes of Sports Events
The belief that God is involved in sporting events is stronger in the South than anywhere else. Thirty-six percent of southerners believe God decides who wins. Sixty-one percent believe God rewards athletes who have faith.
Source: Public Religion Research Institute, Nearly 3-in-10 Americans Say God Plays a Role in Outcomes of Sports Events
Tuesday, February 12, 2013
The Five-Percent Club
Among the 50 largest metropolitan areas, San Jose, California, has the largest concentration of high-income households according to the Census Bureau. Using 2006 to 2011 income data from the American Community Survey, the bureau defines high-income households as those with incomes in the top 5 percent--or an annual income of at least $191,469. In San Jose, 15.9 percent of households are in the Five-Percent Club.
Only three other major metros have at least 10 percent of their households in the Five-Percent Club: Washington, D.C. (14.1 percent), San Francisco (13.0 percent), and New York (10.0 percent). Among all metro areas, the largest concentration of Five Percenter households is found in Bridgeport-Stamford-Norwalk, Connecticut, with 17.9 percent having annual incomes of $191,469 or more. Trenton, New Jersey, is another smaller metro with Five Percenters in the double digits (11.6 percent).
The Census Bureau report also examines the bottom of the list--the metros with the smallest concentration of high-income households. At the bottom are two Danvilles--Virginia and Illinois--where only 1.1 percent of households are in the Five-Percent Club.
Source: Census Bureau, The Geographic Concentration of High-Income Households: 2007-2011
Only three other major metros have at least 10 percent of their households in the Five-Percent Club: Washington, D.C. (14.1 percent), San Francisco (13.0 percent), and New York (10.0 percent). Among all metro areas, the largest concentration of Five Percenter households is found in Bridgeport-Stamford-Norwalk, Connecticut, with 17.9 percent having annual incomes of $191,469 or more. Trenton, New Jersey, is another smaller metro with Five Percenters in the double digits (11.6 percent).
The Census Bureau report also examines the bottom of the list--the metros with the smallest concentration of high-income households. At the bottom are two Danvilles--Virginia and Illinois--where only 1.1 percent of households are in the Five-Percent Club.
Source: Census Bureau, The Geographic Concentration of High-Income Households: 2007-2011
Homeownership Experience of Younger Boomers
The homeownership experience of younger baby boomers is examined in a new report by the Bureau of Labor Statistics: Patterns of Homeownership, Delinquency, and Foreclosure among the Youngest Baby Boomers. The BLS analysis is based on data collected by the National Longitudinal Survey of Youth 1979, which has tracked a cohort of Americans aged 23 to 31 at the start of the survey and aged 43 to 51 in the most recent time period.
In the age group, 74 percent were homeowners in 2008. Among the 2008 homeowners, 93 percent still owned a home in 2010. Six percent fell delinquent on their mortgage payments at some point between 2008 and 2010, 2 percent received a foreclosure notice, and 1 percent lost their home due to foreclosure. Not surprisingly, those who reported having negative equity in their home in 2008 were most likely to have lost their home due to foreclosure by 2010 (8 percent). In contrast, among those who reported having more than 40 percent equity in their home in 2008, only 0.3 percent had lost their home due to foreclosure by 2010.
In the age group, 74 percent were homeowners in 2008. Among the 2008 homeowners, 93 percent still owned a home in 2010. Six percent fell delinquent on their mortgage payments at some point between 2008 and 2010, 2 percent received a foreclosure notice, and 1 percent lost their home due to foreclosure. Not surprisingly, those who reported having negative equity in their home in 2008 were most likely to have lost their home due to foreclosure by 2010 (8 percent). In contrast, among those who reported having more than 40 percent equity in their home in 2008, only 0.3 percent had lost their home due to foreclosure by 2010.
Monday, February 11, 2013
The Way We Were
Do you think the Great Recession permanently changed us? That's what the Heldrich Center for Workforce Development wanted to know, so it asked Americans whether they thought the economic changes were permanent or temporary. And the winner is...
Permanent. According to the 60 percent majority of the public, the economic changes wrought by the Great Recession are here to say--a figure larger than the 56 percent who felt that way in 2010. The future is getting uglier, despite the slowly improving economy. Americans feel most pessimistic about young people being able to afford college. The 58 percent majority of the public thinks college affordability will never return to the way it was before the Great Recession. Forty-seven percent think the elderly, from now on, will have to find part-time work to make ends meet in retirement. Forty-three percent think workers will never again feel secure in their jobs.
Only 14 percent of Americans say the availability of good jobs at good pay for those who want to work will soon return to the way it was before. Fifty-two percent think good jobs will return but not for many years, and 34 percent say never again will jobs be the way they were.
Source: Heldrich Center for Workforce Development, Diminished Lives and Futures: A Portrait of America in the Great Recession Era
Permanent. According to the 60 percent majority of the public, the economic changes wrought by the Great Recession are here to say--a figure larger than the 56 percent who felt that way in 2010. The future is getting uglier, despite the slowly improving economy. Americans feel most pessimistic about young people being able to afford college. The 58 percent majority of the public thinks college affordability will never return to the way it was before the Great Recession. Forty-seven percent think the elderly, from now on, will have to find part-time work to make ends meet in retirement. Forty-three percent think workers will never again feel secure in their jobs.
Only 14 percent of Americans say the availability of good jobs at good pay for those who want to work will soon return to the way it was before. Fifty-two percent think good jobs will return but not for many years, and 34 percent say never again will jobs be the way they were.
Source: Heldrich Center for Workforce Development, Diminished Lives and Futures: A Portrait of America in the Great Recession Era
Sunday, February 10, 2013
Religious Preference of College Students
Percentage of 2012 college freshmen who...
Are Born-Again Christian: 20%
Have no religious preference: 24%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Are Born-Again Christian: 20%
Have no religious preference: 24%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Saturday, February 09, 2013
Minority Share of Political Parties
Minority share of those who identify themselves as...
Republicans: 11%
Democrats: 40%
Note: Minorities are everyone except non-Hispanic whites.
Source: Gallup, Democrats Racially Diverse; Republicans Mostly White
Republicans: 11%
Democrats: 40%
Note: Minorities are everyone except non-Hispanic whites.
Source: Gallup, Democrats Racially Diverse; Republicans Mostly White
Friday, February 08, 2013
Trends in Men's Labor Force Participation
A shrinking share of American men are working or looking for work, a trend that has been ongoing for more than half a century. In 1950, fully 86.4 percent of men aged 16 or older were in the labor force (which includes the employed and the unemployed). By 2012, only 70.2 percent were working or looking for work--4.6 percentage points lower than in 2000.
In contrast to this downward trend, the labor force participation rate of men aged 65 or older is rising. According to the latest annual statistics, 23.6 percent of men aged 65 or older were in the labor force in 2012, up from 17.7 percent in 2000 and the largest percentage since 1972.
Source: Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey
In contrast to this downward trend, the labor force participation rate of men aged 65 or older is rising. According to the latest annual statistics, 23.6 percent of men aged 65 or older were in the labor force in 2012, up from 17.7 percent in 2000 and the largest percentage since 1972.
Source: Bureau of Labor Statistics, Labor Force Statistics from the Current Population Survey
Thursday, February 07, 2013
Postponing Retirement for Health Insurance
Percentage of workers who plan to work longer than they would like in order to continue receiving health insurance through their employer: 53%.
Source: Employee Benefit Research Institute, Views on Health Coverage and Retirement: Findings from the 2012 Health Confidence Survey
Source: Employee Benefit Research Institute, Views on Health Coverage and Retirement: Findings from the 2012 Health Confidence Survey
Restaurant Food Not So Bad
Eating out is less nutritious than eating at home. Everyone knows that, right? But with so little time to plan and prepare nutritious, home-cooked meals, perhaps restaurants are providing us with the salads and side dishes our mother begged us to eat.
According to a USDA study, restaurant food (including sit-down and fast-food restaurants, carry-outs, and home deliveries) supplied 32 percent of our caloric intake in 2005-08, nearly double the 18 percent of 1977-78. Restaurant food was higher in saturated fat, sodium, and cholesterol than food prepared at home. But--despite the growing share of calories supplied by restaurant meals--our consumption of fat has declined over the years. So maybe restaurants aren't all that bad, and it could be they will get better at providing us with a more varied (and nutritious) diet than we can make for ourselves at home.
Source: USDA, Economic Research Service, Nutritional Quality of Food Prepared at Home and Away from Home, 1977-2008
According to a USDA study, restaurant food (including sit-down and fast-food restaurants, carry-outs, and home deliveries) supplied 32 percent of our caloric intake in 2005-08, nearly double the 18 percent of 1977-78. Restaurant food was higher in saturated fat, sodium, and cholesterol than food prepared at home. But--despite the growing share of calories supplied by restaurant meals--our consumption of fat has declined over the years. So maybe restaurants aren't all that bad, and it could be they will get better at providing us with a more varied (and nutritious) diet than we can make for ourselves at home.
Source: USDA, Economic Research Service, Nutritional Quality of Food Prepared at Home and Away from Home, 1977-2008
Wednesday, February 06, 2013
Many College Students Live at Home
Percentage of 2012 college freshmen at four-year schools who lived with their family or other relatives while attending school, by type of school attended:
Total freshmen: 17%
Public college: 29%
Private college: 12%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Total freshmen: 17%
Public college: 29%
Private college: 12%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Happy Days
What percentage of Americans feel happy on an average day? The answer to that question is 48 percent, according to 2012 data from the Gallup-Healthways Well-Being Index.
On a daily basis, Gallup is in the field asking a representative sample of adults how they felt yesterday. Did they experience "a lot of happiness/enjoyment without a lot of stress/worry" (happy), or did they feel "a lot of stress/worry without a lot of enjoyment/happiness" (unhappy). From year to year, the proportion of Americans who feel happy on an average day shows surprisingly little variation. In the years 2008 through 2012, the figure ranged from a low of 47.4 percent in 2009 to a high of 49.1 percent in 2011. The percentage who feel unhappy on an average day also varies little, ranging from a high of 11.7 percent in 2009 to a low of 10.7 percent in 2011.
Another way to look at the data is by counting the number of days in a year on which the percentage of people who feel happy is below 40 percent. That number has ranged from a high of 14 days in 2008 to a low of 2 days in 2011. Last year, there were only 3 such days: February 16, November 29, and December 14—the day of the Newtown massacre.
Source: Gallup, In U.S., Newtown Shooting One of Least Happy Days of 2012
On a daily basis, Gallup is in the field asking a representative sample of adults how they felt yesterday. Did they experience "a lot of happiness/enjoyment without a lot of stress/worry" (happy), or did they feel "a lot of stress/worry without a lot of enjoyment/happiness" (unhappy). From year to year, the proportion of Americans who feel happy on an average day shows surprisingly little variation. In the years 2008 through 2012, the figure ranged from a low of 47.4 percent in 2009 to a high of 49.1 percent in 2011. The percentage who feel unhappy on an average day also varies little, ranging from a high of 11.7 percent in 2009 to a low of 10.7 percent in 2011.
Another way to look at the data is by counting the number of days in a year on which the percentage of people who feel happy is below 40 percent. That number has ranged from a high of 14 days in 2008 to a low of 2 days in 2011. Last year, there were only 3 such days: February 16, November 29, and December 14—the day of the Newtown massacre.
Source: Gallup, In U.S., Newtown Shooting One of Least Happy Days of 2012
Tuesday, February 05, 2013
Careers of College Freshmen
Among 2012 college freshmen, the 10 most frequently mentioned probable occupations...
Engineer: 8.6%
Physician: 7.2%
Business executive: 6.9%
Nurse: 6.0%
Therapist, physical: 4.4%
Lawyer: 3.2%
Teacher, elementary: 3.1%
Business owner: 2.9%
Teacher, secondary: 2.8%
Accountant: 2.5%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Engineer: 8.6%
Physician: 7.2%
Business executive: 6.9%
Nurse: 6.0%
Therapist, physical: 4.4%
Lawyer: 3.2%
Teacher, elementary: 3.1%
Business owner: 2.9%
Teacher, secondary: 2.8%
Accountant: 2.5%
Source: UCLA, Cooperative Institutional Research Program, Higher Education Research Institute, The American Freshman: National Norms Fall 2012
Monday, February 04, 2013
Employment Decline in Information Industry
Employment in the information industry peaked in 2000 at 3,630,000, according to an analysis by the Bureau of Labor Statistics. By 2011, the industry employed only 2,659,000--a loss of nearly 1 million jobs.
Behind the decline in information industry employment is job loss in traditional publishing (books, newspapers, magazines, directories) and telecommunications (wired and wireless). The BLS defines the information industry as establishments that 1) produce and distribute information and cultural products; 2) provide the means to transmit or distribute these products as well as data or communications; 3) process data. Between 2000 and 2011, the number of jobs in newspaper publishing fell from 422,600 to 240,900—a 43 percent decline. Jobs in wired telecommunications fell 37 percent, from 921,800 to 577,200. Newspaper publishing and wired telecommunications together accounted for more than half of the overall decline in information industry jobs.
Meanwhile, the Internet has not come to the rescue. Internet publishing employed 108,000 in 2011, nearly 3,000 fewer people than the 110,800 employed in 2000. Jobs in this sector are disappearing in part because much of Internet publishing is performed without pay. Think of Wikipedia (which calls itself "the largest and most popular general reference work on the Internet"), available for free and created almost entirely by volunteers.
Sunday, February 03, 2013
Most Feel Threatened
Percentage of Americans who think the federal government threatens their personal rights and freedoms, by whether or not they have a gun in their home...
Feel threatened by federal government
Total people: 53%
Gun in home: 62%
No gun in home: 45%
Source: Pew Research Center, Majority Says the Federal Government Threatens Their Personal Rights
Feel threatened by federal government
Total people: 53%
Gun in home: 62%
No gun in home: 45%
Source: Pew Research Center, Majority Says the Federal Government Threatens Their Personal Rights
Saturday, February 02, 2013
What's Causing Political Polarization?
If you wonder why the country has become so polarized in recent years, you aren't alone. Researchers at the Federal Reserve Bank of Dallas have looked into the issue, and they have an answer: cable television. Yes folks, according to their statistical study, the increased political polarization of the House of Representatives over the past few decades is due to media fragmentation.
"Our findings strongly suggest that greater media fragmentation has contributed to increased political polarization," the authors conclude. "This may occur as individuals seek out self-reinforcing viewpoints rather than be exposed to a common 'nightly news' broadcast, or alternatively, may occur as individuals opt out of news entirely in favor of entertainment."
Source: Federal Reserve Bank of Dallas, Has Income Inequality or Media Fragmentation Increased Political Polarization?
"Our findings strongly suggest that greater media fragmentation has contributed to increased political polarization," the authors conclude. "This may occur as individuals seek out self-reinforcing viewpoints rather than be exposed to a common 'nightly news' broadcast, or alternatively, may occur as individuals opt out of news entirely in favor of entertainment."
Source: Federal Reserve Bank of Dallas, Has Income Inequality or Media Fragmentation Increased Political Polarization?
Friday, February 01, 2013
In The Sandwich
Millions of Americans are in The Sandwich, which means they are caring for aging parents and dependent children. Forty-two percent of Generation Xers and 33 percent of Boomers are members of the Sandwich Generation, according to a Pew Research Center study. The Sandwich Generation is defined as adults with parents aged 65 or older and children under age 18 or adult children who require financial support.
The higher your income, the more likely you are to be in The Sandwich. Among people in households with incomes of $100,000 or more, 43 percent have elderly parents and dependent children. This compares with 25 percent of those in households with incomes between $30,000 and $100,000, and just 17 percent of those with household incomes below $30,000.
Source: Pew Research Center, The Sandwich Generation
The higher your income, the more likely you are to be in The Sandwich. Among people in households with incomes of $100,000 or more, 43 percent have elderly parents and dependent children. This compares with 25 percent of those in households with incomes between $30,000 and $100,000, and just 17 percent of those with household incomes below $30,000.
Source: Pew Research Center, The Sandwich Generation
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