Topic: Income
News
Sept. 28, 2017

U.S. economic output grew at a 3.1% annual rate in the second quarter, slightly stronger than previously thought and marking the best growth in two years.

The estimate, based on revised data released by the Commerce Department on Thursday, replaces a previous tally of 3% growth. Economists surveyed by The Wall Street Journal had expected the estimate to remain 3%.

News
Sept. 27, 2017

Nearly all Americans have now emerged from the Great Recession with more money than before -- with African American and Hispanic families and Americans without high school diplomas showing the greatest gains, according to new data released Wednesday from the Federal Reserve. It's a sign that the recovery from the devastating Great Recession and financial crisis of 2008 is picking up as more people are able to get jobs, pay off debt and invest more. Household wealth for African-American and Hispanic families and Americans without high school diplomas rose the fastest from 2013 to 2016, according to the Fed's Survey of Consumer Finances, which surveys over 6,000 households about their pay, debt and other finances.

News
Sept. 27, 2017

U.S. families’ wealth and incomes rose across the board as the economic recovery continued in recent years, a shift after they stagnated for all but the most well-off in the aftermath of the recession, the Federal Reserve reported Wednesday.

Minority households and families with less education had larger proportional gains in income than others between 2013 and 2016, suggesting the fruits of the recovery spread to a wider swath of society, the Fed said.

News
Sept. 25, 2017

Marriage, which used to be the default way to form a family in the United States, regardless of income or education, has become yet another part of American life reserved for those who are most privileged.

Fewer Americans are marrying over all, and whether they do so is more tied to socioeconomic status than ever before. In recent years, marriage has sharply declined among people without college degrees, while staying steady among college graduates with higher incomes.

Currently, 26 percent of poor adults, 39 percent of working-class adults and 56 percent of middle- and upper-class adults are married, according to a research brief published today from two think tanks, the American Enterprise Institute and Opportunity America. In 1970, about 82 percent of adults were married, and in 1990, about two-thirds were, with little difference based on class and education.

News
Sept. 25, 2017

Marriage, which used to be the default way to form a family in the United States, regardless of income or education, has become yet another part of American life reserved for those who are most privileged.

Fewer Americans are marrying over all, and whether they do so is more tied to socioeconomic status than ever before. In recent years, marriage has sharply declined among people without college degrees, while staying steady among college graduates with higher incomes.

Currently, 26 percent of poor adults, 39 percent of working-class adults and 56 percent of middle- and upper-class adults are married, according to a research brief published today from two think tanks, the American Enterprise Institute and Opportunity America. In 1970, about 82 percent of adults were married, and in 1990, about two-thirds were, with little difference based on class and education.

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