By The Numbers - June 2017Submitted by S. F. Ehrlich Associates, Inc. on June 30th, 2017
Source: Direxion Funds
June 30, 2017
By the numbers…....
- The personal savings rate in the US was 5.9% as of 3/31/17. The personal savings rate in the US was 1.9% as of 7/31/05, a record low in the country.
- Of the 3.14 million high school graduates in 2016, 2.19 million began college in the fall of 2016 (i.e. 70% of high school graduates went to college).
- Just 1% of Americans are responsible for 21% of healthcare expenditures in the US. Just 20% of Americans are responsible for 82% of healthcare expenditures in the US.
- Americans under the age of 35 make up 25% of the US population but hold just 5% of US wealth. Americans between the ages of 55-64 make up 16% of the US population but hold 31% of US wealth.
- Christopher Leinberger of George Washington University’s Center for Real Estate and Urban Analysis predicts that the next American recession will result in 30% of shopping malls nationwide shutting down. There are 47,000 shopping centers in the US.
- Only 36% of American jobs typically require some type of postsecondary education.
- The Social Security payroll tax rate paid by employees has been 6.2% since 1990 except for a 2% reduction in the rate during the 2 years of 2011-12.
- 44% of American private sector workers (i.e. 55 million of 124 million private sector workers) lack access to any employer-sponsored pre-tax retirement plan.
- The unfunded pension liability of the City of Chicago is estimated to be $27 Billion, an amount equal to 11 years worth of the city’s current annual tax revenue.
- 34% of American workers anticipate that they will have a different job with a new employer within 12 months.
- 23% of American workers surveyed in April 2017 are concerned about losing their jobs.
- The 3 summer months (June-July-August) have produced an average loss of 0.1% (total return) for the S&P 500 stock index over the last 25 years.
- Within 4 years of their 2008 graduation from college, 69% of individuals with student loans were making regular payments on the debt; 17% had fully repaid their debt; 9% were making no payments; and 5% had already defaulted on the loans.
- 44% of 6,600 adults surveyed in October 2016 could not pay for an unexpected $400 emergency expense out of cash reserves, forcing them to borrow the funds or liquidate an asset to pay the expense.
- 26% of 1,100 adults surveyed in April 2017 fear that it is “very likely or somewhat likely” that their current job will be eliminated within 20 years, replaced by technology, automation, or a robot.
- 23% of Millennials who have student debt believe the college education they received “will never be worth” the debt they incurred. (Millennials are defined as the 75 million Americans ages 20-36.)
- Medical expenditures make up 17% of state spending on average today, up from 12% of state spending in 2010.
- 60% of 2,652 employees surveyed in November 2016 “worry about money.” 30% of those surveyed “lay awake at night” worrying about money.
- 58% of American retirees consider their monthly Social Security benefit to be a “major source of retirement income.”
- 54% of 18,336 adults surveyed in April 2017 own stocks (direct ownership or indirectly through a pooled investment like a mutual fund or exchange-traded fund) in their personal accounts or pre-tax retirement accounts.
- There were 21,030 first-year med students enrolled for the 2016-2017 school year. Applications for med school totaled 53,042 last year, an all-time record. 22 new medical schools have opened over the last 20 years.
- 78% of 1,007 Americans surveyed in February 2017 were confident in their ability to “maintain the lifestyle they want throughout their retirement.”
- 67% of Americans working in the private sector (i.e. not working for the government) do not have long-term disability insurance.
- The US unemployment rate was 4.3% as of May 2017. The “unemployed and underemployed” rate was 8.4%, which is a combination of jobless individuals plus workers who are part-time purely for economic reasons. As of Oct 2009, the unemployment rate was 10.0%, while the “unemployed and underemployed” rate was 17.1%.
- Since 1940, the life expectancy at birth of a US citizen has increased by 1 year every 13 years.
- The number of operating oil rigs in the US reached 941 last week, up 43% year-to-date. The price of oil closed last Friday at $43.01 a barrel, down 20% year-to-date.
- A divorced spouse is eligible for the same spousal benefit and the same survivor benefit from Social Security as a still-married spouse if the marriage lasted more than 10 years.
- 52% of US households with someone at least age 55 had no money saved in any pre-tax defined contribution accounts (i.e. 401k, IRA).
- US corporations account for 19% of global manufacturing second only to Chinese manufacturers who represent 25% of worldwide manufacturing. Manufacturing accounts for just 12% of the US economy, down from 26% of our economy 50 years ago.
- A survey of Millennials found that they view ‘old age’ as beginning at age 59. (Millennials are the 75 million Americans ages 20-36.)
Source: “By The Numbers.” Direxion ETFs & Funds, 8 May 2017 through 26 Jun. 2017.