Tuesday, April 05, 2011
Dear Social Scientist
Case in point: The Federal Reserve Board's new update of household wealth. Important stuff. But the written analysis is so complex that the findings were virtually ignored by the media. Journalists could not make sense of it. The supplemental tables contained calculations that could not be replicated using the numbers shown, causing the average armchair pundit to throw up his hands in disgust. (See my analysis of the wealth update here, here, and here.)
Another example: A new study from the National Bureau of Economic Research on the effect of health crises on household wealth. That sounds interesting, and it is timely. But the analysis is written for statistics geeks, making the findings (yes, health crises do affect wealth, even across generations) inaccessible to journalists who might have reported on the results.
Please summarize your findings. Write in plain English. Make the results notable and quotable. In doing so, your social science research may escape the black hole and become a shining star, helping us navigate into the future.
Monday, April 04, 2011
Big Numbers
The states in which minorities account for at least one-third of the population: Alabama, Alaska, Arizona, California, Delaware, Florida, Georgia, Hawaii, Illinois, Louisiana, Maryland, Mississippi, Nevada, New Jersey, New Mexico, New York, North Carolina, South Carolina, Texas, and Virginia.
The states in which fewer than 10 percent of the population is minority: Maine, New Hampshire, Vermont, and West Virginia.
Source: Bureau of the Census, An Overview: Race and Hispanic Origin and the 2010 Census
The Aging of Housing
The nation's housing stock renews slowly. Very slowly. And the rate of renewal is slowing, too. In 1999, the median age of the nation's occupied housing units was 30 years, with half built in 1969 or before and half after that year. In 1989, the median age of occupied housing units was 26 years, with 1963 the median year of construction. Despite the housing bubble and overbuilding in many parts of the country, the occupied housing stock is older today than it was ten or twenty years ago.
At the current rate of renewal, it will take more than 60 years before the houses being built in 2011 or later account for half the occupied housing units in the United States. Bottom line: If we want to see widespread housing innovation in our lifetimes--such as greater energy efficiency, digital home integration, and improved access to public services--then it must occur through rehabilitation of existing structures and communities rather than through new construction and developments.
Sunday, April 03, 2011
Who Goes to the Movies?
18-24: 74%
25-34: 65%
35-44: 60%
45-54: 53%
55-64: 46%
65-74: 32%
75+: 19%
Source: National Endowment for the Arts, 2008 Survey of Public Participation in the Arts
The Mystery of Travel Statistics
Saturday, April 02, 2011
Couch Potatoes
Source: National Center for Health Statistics, Summary Health Statistics for U.S. Adults: National Health Interview Survey, 2009
Friday, April 01, 2011
The Housing Market's Problem
This insecurity might be good news for businesses that want to hold down wages. But it is a disaster for the housing market. With the threat of unemployment looming over them, how many will be brave enough to buy a house? Apparently, not many.
Fear of Job Loss
2010: 52%
2008: 59%
2006: 64%
2004: 64%
2002: 63%
2000: 71%
Source: General Social Surveys
Thursday, March 31, 2011
A New Baby Bust?
Birth rates fell among women in every age group under age 40. Among women aged 20 to 24, the birth rate fell to the lowest level ever recorded (96.3 births per 1,000 women). Births also fell in every race/Hispanic origin group, with the largest decline among Hispanics.
By state, fertility rates fell or were unchanged in every state. The biggest declines were in Arizona (-12%) and Nevada (-10%). Other states with an above average decline in fertility (more than 4%) were: California, Connecticut, Florida, Georgia, Idaho, Louisiana, Mississippi, North Carolina, Oregon, South Carolina, Tennessee, Utah, and Vermont.
Source: National Center for Health Statistics, Recent Decline in Births in the United States, 2007-2009
Little Savings
Source: Employee Benefit Research Institute, 2011 Retirement Confidence Survey
Wednesday, March 30, 2011
The Boomer Inheritance
Overall, two-thirds of boomer households will ultimately receive an inheritance. According to the researchers, $2.4 trillion has already been inherited by the 17 percent of boomer households that have so far received an inheritance. Median value: $78,000 per household. Fifty-eight percent of boomers still have at least one living parent, so most have yet to receive an inheritance, say the researchers, who estimate the median amount still to be inherited at $47,000 per household.
The researchers caution that the amounts to be inherited by boomers "are typically not large enough to be life-changing. Therefore, boomer households need to make many of their key financial decisions before they ever receive any inheritance."
Source: Center for Retirement Research at Boston College, "How Important Are Inheritances for Baby Boomers?"
Media Out of Sync
Percentage of people who are following the news about Japan very closely: 57%
Percentage of news coverage devoted to Japan: 15%
Percentage of people who are following the news about Libya very closely: 15%
Percentage of news coverage devoted to Libya: 41%
Source: Pew Research Center, Public Stays Focused on Japan as Media Turns to Libya
Tuesday, March 29, 2011
Televisions, Computers, and Rechargeables
| Televisions: | |
| 0 | 1.5% |
| 1 | 24.2% |
| 2 | 37.5% |
| 3 | 26.6% |
| 4 | 14.2% |
| 5+ | 9.7% |
| Computers: | |
| 0 | 27.4% |
| 1 | 46.9% |
| 2 | 24.3% |
| 3 | 9.5% |
| 4 | 3.6% |
| 5+ | 2.0% |
| Rechargeable Electronic Devices: | |
| 0 | 11.4% |
| 1 to 3 | 57.9% |
| 4 to 8 | 36.4% |
| 9+ | 7.9% |
Metropolis
One in ten lives in New York or Los Angeles.
Source: Bureau of the Census, Population Distribution and Change: 2000 to 2010
Monday, March 28, 2011
Vehicle Values Fall
In 2007, the median value of the vehicles owned by the average household was $16,200 (in 2009 dollars). By 2009, the figure had dropped to $12,000--a 26 percent decline, according to the Federal Reserve Board's analysis of household wealth. For much more data by demographic characteristic, see the appendix tables that accompany the Fed report, Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009. For important information on how to interpret the tables, see my earlier post.
Sunday, March 27, 2011
An Average Day: Sleeping
Weekdays: 8.40 hours
Weekends: 9.34 hours
Source: Bureau of Labor Statistics, American Time Use Survey
Saturday, March 26, 2011
The Obama Effect on Racial Identification
In 2000, the black/white combination accounted for only 11 percent of the total multiracial population. This group was greatly outnumbered by white/other (many "others" were Hispanics who were unaware that Hispanic is an ethnicity rather than a race), white/Asian, and white/American Indian.
In 2010, the black/white mix surged ahead of all the others, accounting for 20 percent of the total multiracial population. Why? Most likely, it is the Obama Effect. The nation's first multiracial president has boosted the popularity of asserting a multiracial identity, particularly the black/white combination. It is also likely that many of those doing the asserting are parents of children under age 18. As of 2009, the median age of the multiracial population was just 20, well below the median age of 37 for all Americans. We do not yet know the age distribution of the multiracial in 2010, but it is likely to be much more youthful than the general population. What accounts for this? Parents. When answering the census, parents supply the information for children under age 18, including racial identification. Many parents identify their children as multiracial (and increasingly so), but when those children become adults they may choose to adopt a single-race identification. Unless, that is, the Obama Effect permanently changes racial identification in the United States.
Source: Bureau of the Census, Overview of Race and Hispanic Origin 2010 and Overview of Race and Hispanic Origin 2000
Bet You Didn't Know
Source: Bureau of Labor Statistics, Employment Characteristics of Families
Friday, March 25, 2011
This Is Where Your Customers Went
In 2009, a substantial 18 percent of households in the United States had education loans. This was up from 16 percent in 2007. By age, the percentage of households with student debt extends well into middle age. Take a look:
Under age 35: 37%
Aged 35 to 44: 20%
Aged 45 to 54: 18%
Aged 55 to 64: 10%
These loans are not trifling either. The size of student loans exceeds vehicle loans and far surpasses credit card debt. For households with student debt, the median amount owed was $15,000 in 2009, up from $12,400 in 2007 (in 2009 dollars)--a 21 percent increase in two years. For the record, the median amount households owed on vehicle loans was a smaller $12,400. The median amount owed on credit cards was just $3,300.
The households most burdened by student loans are the same ones many businesses were counting on to spend their way out of the Great Recession: married couples with children (24 percent have student loans, and they owe a median of $15,000), renters (24 percent have student loans, and they owe a median of $12,000), and college graduates (25 percent have student loans, and they owe a median of $20,000).
A funny thing happened on the way to where we are today. Your customers signed on a dotted line, and now their current and future income is being siphoned off by someone else.
Thursday, March 24, 2011
Confusing Numbers
Between 2007 and 2009, for example, median household net worth fell from $125,400 to $96,000 (in 2009 dollars), a 23 percent decline in the median value. But the table provided by the Federal Reserve shows "median % change" to be -18 rather than -23. That's because the Feds are measuring the median percent change in net worth rather than the percent change in median net worth. In other words, half of households saw their net worth decline by more than 18 percent between 2007 and 2009 and half saw their net worth decline by less than 18 percent. Likewise, the dollar change in median net worth between 2007 and 2009 was $29,400. Yet the Feds show "median $ change" to be $11,400. This means that half of households saw their net worth decline by more than $11,400 between 2007 and 2009 and half saw their net worth decline by less than that amount.
Insanely confusing.
Race & Hispanic, 2010 Census
| % change | ||
| 2010 | 2000–10 | |
| Total population | 308,746 | 9.7 |
| Asians (race alone) | 14,674 | 43.3 |
| Blacks (race alone) | 38,929 | 12.3 |
| Hispanics | 50,478 | 43.0 |
| Non-Hispanic whites | 196,818 | 1.2 |
How Much Did Net Worth Fall?
The Great Recession reduced median household net worth by 23 percent, according to the long-awaited update of the 2007 Survey of Consumer Finances. This unprecedented update was undertaken by the Federal Reserve Board solely to determine the impact of the Great Recession on household net worth, assets, and debt.
Median household net worth fell from $125,400 in 2007 to $96,000 in 2009 (in 2009 dollars). The decline in wealth occurred across the board, affecting nearly two out of three households.
The biggest reason for the decline in wealth was the loss of housing equity, which is the single largest asset owned by the average household. The median value of owned homes fell from $207,100 in 2007 to $176,000 in 2009 (in 2009 dollars). Unfortunately, the decline in housing values continues.
Source: Federal Reserve Board, Surveying the Aftermath of the Storm: Changes in Family Finances from 2007 to 2009
The Detroit Surprise
Wednesday, March 23, 2011
North and South
Northeast: 11%
Midwest: 12%
South: 20%
West: 19%
Source: National Center for Health Statistics, Health Insurance Coverage: Early Release of Estimates from the National Health Interview Survey, January-September 2010
Are You Past Your Prime?
That's right. A series of tests on people of different ages, asking them to make real-world decisions regarding credit cards and interest rates, for example, revealed that 53.3 is the average age when people make the fewest financial mistakes.
Tuesday, March 22, 2011
Bet You Didn't Know
Aged 18 to 30: 54%
Aged 30 to 64: 38%
Aged 65 or older: 35%
Note: On a scale of 1 (not at all close) to 9 (very close), percent who say 6 to 9.
Source: 2010 General Social Survey
Why Do Renters Move?
Monday, March 21, 2011
Poor Demographics
Non-Hispanic whites: 43%
Hispanics: 28%
Blacks: 24%
Source: Bureau of the Census, Current Population Survey
Sunday, March 20, 2011
Kids and Parents
at least one biological parent: 94%
at least one stepparent: 6%
at least one adoptive parent: 2%
Source: Census Bureau, America's Families and Living Arrangements: 2010
Saturday, March 19, 2011
An Average Day: Socializing
Friday, March 18, 2011
Wave of Change
Millennials (18 to 33): 62%
Generation X (34 to 45): 45%
Boomers (46 to 64): 41%
Older Americans (65+): 34%
Source: 2010 General Social Survey
The Mystery of the High School Graduate
Thursday, March 17, 2011
Watching Japan
While the majority were following the Japan story "very closely," the percentage was below the level of interest in other disasters in recent years, as you can see below...
Hurricane Katrina: 70%
Haiti earthquake: 60%
Indian Ocean tsunami: 58%
Japanese disaster: 52%
The all-time winner in grabbing the attention of the American public was the Challenger disaster of 1986, followed "very closely" by 80 percent. This surpassed the 78 percent who "very closely" followed news of the 9/11 attacks.
Wednesday, March 16, 2011
Life Expectancy Climbs Again
Source: National Center for Health Statistics, Deaths: Preliminary Data for 2009
Tuesday, March 15, 2011
Retirement Confidence Is Down
What is surprising is that only 27 percent are "not at all" confident they will have the money to retire. Although this is the largest proportion ever recorded by the Retirement Confidence Survey, it is far from being the norm. It means the 73 percent majority of workers have at least a little confidence in being able to afford retirement. This may be why: 74 percent expect to work for pay in "retirement."
Not Retiring Anytime Soon
2001: 25%
2011: 50%
Source: Employee Benefit Research Institute, 2011 Retirement Confidence Survey
Monday, March 14, 2011
Corporate Shills?
All registered voters: 39%
Tea Party supporters: 62%
Source: Pew Research Center
Sunday, March 13, 2011
They Don't Trust You
It's only going to get worse because young adults are the most suspicious, according to results from the 2010 General Social Survey. Only 18 percent of 18-to-29-year-olds think most people can be trusted. Only 14 percent have a "great deal" of confidence in major companies. The 51 percent majority think you are trying to take advantage of them.
Rethink your marketing.
Update: How Many Americans Are Gay?
Saturday, March 12, 2011
An Average Day: Spending
on all products, services, and bills: $134.
Source: Bureau of Labor Statistics, Consumer Expenditure Survey
Friday, March 11, 2011
Be Careful
Arizona's population grew 25 percent during the decade, for example. But does anyone think Arizona has been growing recently? The population of Phoenix was up 9 percent between 2000 and 2010, yet it is probably losing people now. Population experts in Arizona say the state has grown little, if at all, for the past three years.
We will have to wait another year or two before we have up-to-date data from the Census Bureau's American Community Survey that will reveal the trends ushered in by the Great Recession. While the census gives us a good snapshot of the population in 2010, it cannot give us an accurate picture of current trends.
Thursday, March 10, 2011
Stupid or Selfish?
Percent with government health insurance: 94%.
Percent who think government should help people pay medical bills: 35%.
Source: Census Bureau and General Social Survey
Projections of Education Statistcs
Wednesday, March 09, 2011
Bet You Didn't Know
18-44: 67%
45-64: 54%
65-plus: 47%
Source: General Social Survey
Tuesday, March 08, 2011
What's So Special about Detroit?
Is Life Exciting?
18-29: 57%
39-39: 52
40-49: 53
50-59: 56
60 or older: 45
Source: General Social Survey
Trust: The Decline
Monday, March 07, 2011
Oh Happy Day!
Percentage of people aged 18 or older who agree with the statement, "The way things are in America, people like me and my family have a good chance of improving our standard of living..."
2010: 58%
2000: 77%
Source: General Social Survey, SDA, UC-Berkeley
Sunday, March 06, 2011
Who's Got Your Back?
Saturday, March 05, 2011
Steep Decline in Home Buying among Young
Friday, March 04, 2011
Trouble in Arizona
Thursday, March 03, 2011
Who Snores
New Sexual Behavior Study
Wednesday, March 02, 2011
Fat Americans: The French Version
Bet You Didn't Know
Tuesday, March 01, 2011
Not so Mobile
Better Times Ahead
Monday, February 28, 2011
Is Art in Decline?
Things that Cost Less
Sunday, February 27, 2011
Black and White
Underweight
Saturday, February 26, 2011
Table FG10
Kids These Days
Friday, February 25, 2011
An Average Day: Groceries
Minus 805,000
Thursday, February 24, 2011
Homeownership by Household Type
| 2010 | 2004 | ||
| Total | 66.9 | 69.0 | -2.1 |
| Married couple | 82.1 | 84.0 | -1.9 |
| Female family | 48.6 | 50.9 | -2.3 |
| Male family | 56.9 | 59.6 | -2.7 |
| Women alone | 58.6 | 59.9 | -1.3 |
| Men alone | 51.3 | 50.5 | 0.8 |
Homeownership by Race
| 2010 | 2004 | ||
| Total | 66.9 | 69.0 | -2.1 |
| American Indian | 52.3 | 55.6 | -3.3 |
| Asian | 58.9 | 59.8 | -0.9 |
| Black | 45.4 | 49.1 | -3.7 |
| Hispanic | 47.5 | 48.1 | -0.6 |
| Non-Hisp white | 74.4 | 76.0 | -1.6 |
2010 Homeownership Data
| 2010 | 2004 | ||
| Total | 66.9 | 69.0 | -2.1 |
| under 25 | 39.1 | 43.1 | -4.0 |
| 35 to 44 | 65.0 | 69.2 | -4.2 |
| 45 to 54 | 73.5 | 77.2 | -3.7 |
| 55 to 64 | 79.0 | 81.7 | -2.7 |
| 65+ | 80.5 | 81.1 | -0.6 |
Wednesday, February 23, 2011
Detroit's Decline
Tuesday, February 22, 2011
No Heat
Monday, February 21, 2011
An Average Day: College Students
Sunday, February 20, 2011
Bet You Didn't Know
Saturday, February 19, 2011
How Do You Define Reading?
The American Time Use Survey, which is taken annually by the Bureau of Labor Statistics, asks Americans what they did minute by minute during the previous 24 hours. Their activities are classified into categories such as "reading for personal interest" and "computer use for leisure." Here's the question: How does the Time Use Survey classify reading a book on an iPad? Is it computer use or reading?
Not a problem, according to the time use experts at the BLS. Computers, they say, are tools for accomplishing other tasks. When respondents report using a computer, the interviewer then asks what they were doing on the computer. If they were reading a newspaper or book on their iPad, the activity is classified as reading, not computer use. Similarly, if they were using their computer to manage their money, the activity is classified as financial management rather than computer use. In fact, the category "computer use for leisure" is nothing more than a residual--what little remains after assigning all possible computer use to other activities.
This is good news because it means the time use survey category "reading for personal interest" is positioned to capture any changes in time spent reading due to e-readers. An increase in reading might be on the way, according to an analysis posted by Read It Later, an app that allows users to save articles on their computers and phones for later reading. The company's data show a spike in iPad reading between 8 and 10 pm--typically television time. Could e-reading compete with television as a prime-time activity? Maybe, but it is not happening yet. Between 2005 and 2009, the average person spent a lot more time watching TV and slightly less time reading. There is one exception, however. Teenagers aged 15 to 19 spent a bit more time reading and a bit less time watching TV. Is this a blip or a sign of things to come?
Friday, February 18, 2011
One Pill Makes You Larger
Thursday, February 17, 2011
We Love the Dawgs
Wednesday, February 16, 2011
Score One for the Great Recession
How do you measure bad times? Specifically, how does the Great Recession compare with the Great Depression? Economists typically use GDP as the measuring stick. During the Great Depression, GDP fell by a stunning 27 percent. During the Great Recession, GDP fell only 4 percent. Using the GDP measure, then, the Great Recession was only 15 percent as severe as the Great Depression (4/27 x 100 = 15).
Tuesday, February 15, 2011
Bet You Didn't Know
Source: Household Spending, 15th edition
Monday, February 14, 2011
Big Increase in Part-Timers
Sunday, February 13, 2011
Unemployed One or More Years
2010 Labor Force Participation
Among women aged 16 or older, labor force participation fell 1.3 percentage points to 58.6 percent.