Everyday People Matter
On September 12, 2018, the U.S. Census Bureau released a report on poverty and earnings in America, emphasizing the major issues facing many Americans. The data showed that 39.7 million Americans lived in poverty in 2017, comprising 12.3% of all Americans, down 0.4% from 12.7% in 2016. The report also showed that the U.S. poverty rate has decreased since 2010,…
Older Americans, ages 65 and older, are increasingly filing for bankruptcy, with the rate more than tripling since 1991, according to a study from the Consumer Bankruptcy Project titled “Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society.” Between 2013 and 2016, 12.2% of individuals ages 65-74 filed for bankruptcy annually versus 2.1% in 1991. This trend cannot…
Many Americans are currently satisfied with the growing economy. Unemployment is down. Currently only 3.9% of Americans list themselves as looking for work today; down from 4.9% in October 2016. Typically, in periods of low unemployment, wages are expected to increase. According to the Bureau of Labor Statistics, today’s real average hourly wage is $10.76 per hour. In October of…
Expansion of the Social Security disability program continues in the news. Every week it seems some headline decries the number of beneficiaries added to the Social Security disability rolls. In fairness, and as I have previously blogged in earlier entries, the number of individuals receiving disability payments is on the rise. Moreover, it is also true that actuarial accounts indicate…
Much has been made recently in the news of a spike in the number of Social Security Disability claims. Last month, Social Security reported that the number of individuals receiving disability payments totaled 8,733,461. Many news organizations cried that this is higher than the entire population of New York City. However, this number also reflects the aging Baby Boomer population…