Friday, September 19, 2014

Change in Households by Age, 2013 to 2014

The number of households in the United States grew by a tiny 0.4 percent between 2013 and 2014, according to the Census Bureau's Current Population Survey—the third slowest rate of growth in more than four decades. Here is the numerical change in households by age of householder...

Change in number of households, 2013 to 2014
Total households: 492,000
Under age 25:          9,532
Aged 25 to 34:        -8,994
Aged 35 to 44:    -288,231
Aged 45 to 54:    -258,528
Aged 55 to 64:     233,447
Aged 65-plus:      804,985

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 moving into those age groups. The troubling number, and a sign of economic distress, is the decline in households headed by 25-to-34-year-olds, a group that should be expanding with the Millennial generation.

Source: Census Bureau, Income and Poverty in the United States: 2013

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