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What are some striking economic statistics that you think everyone should know?
I'll start with five facts that have informed my research (with sources):
I'll start with five facts that have informed my research (with sources):
1. Roughly 15% of Americans have filed for bankruptcy in their lifetime
https://libertystreeteconomics.newyorkfed.org/2017/05/do-credit-markets-watch-the-waving-flag-of-bankruptcy.html
https://libertystreeteconomics.newyorkfed.org/2017/05/do-credit-markets-watch-the-waving-flag-of-bankruptcy.html
2. 11% of Americans have 0 or less net worth. It's 20% for Black Americans, and 9% for white non-Hispanics.
Survey of consumer finances in 2019 https://sda.berkeley.edu/sdaweb/analysis/?dataset=scfcomb2019
Survey of consumer finances in 2019 https://sda.berkeley.edu/sdaweb/analysis/?dataset=scfcomb2019
3. The median household income in the US in 2019 was $68,703.
4. 12% of Americans were late on a debt payment in the last year. Roughly 6% for the folks in the top 20% of income.
5% of Americans were late by more than 60 days in the past year.
(SCF, 2019) https://sda.berkeley.edu/sdaweb/analysis/?dataset=scfcomb2019
5% of Americans were late by more than 60 days in the past year.
(SCF, 2019) https://sda.berkeley.edu/sdaweb/analysis/?dataset=scfcomb2019
5. In 2019, 9.2 percent of Americans did not have health insurance. https://www.census.gov/content/dam/Census/library/publications/2020/demo/p60-271.pdf
This number is almost 18 percent in Texas, and 3 percent in MA.
This number is almost 18 percent in Texas, and 3 percent in MA.
Bonus number 6:
In 2019, the 80th percentile of household income is $142,501
The 20th percentile is $28,084.
The 95th percentile is $270,002 https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-households.html
In 2019, the 80th percentile of household income is $142,501
The 20th percentile is $28,084.
The 95th percentile is $270,002 https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-households.html
