Posts tagged with "U.S. Census Bureau"

A record-high share of 40-year-olds in the USA have never been married

April 4, 2024

A recent study has found that fully 25% of 40-year-olds in the United States had never been married. This was a significant increase from 20% in 2010, according to a new Pew Research Center analysis of U.S. Census Bureau data.

Marriage has long been a central institution in the lives of Americans. In 1980, just 6% of 40-year-olds had never been married. But people born from the 1960s onward have been increasingly delaying marriage, and a growing share are forgoing it altogether.

Indeed, according to Pew Research, the 2021 data mark a new milestone in that decades-long trend: While many unmarried 40-year-olds are living with a romantic partner, most are not. In 2022, 22% of never-married adults ages 40 to 44 were cohabiting.

The share of 40-year-olds in 2021 who had never married varied by the following demographic characteristics:

  • Gender: A higher share of men than women had never married.
  • Race and ethnicity: Black 40-year-olds were much more likely to have never married than Hispanic, White, and Asian 40-year-olds.
  • Education level: Forty-year-olds without a four-year college degree were more likely to have never married than those who had completed at least a bachelor’s degree. One-third of those with a high school diploma or less had never married, compared with 26% of those with some college education and 18% of those with a bachelor’s degree or more education.

The overall decrease in the share of 40-year-olds who have married is especially notable because the share of 40-year-olds who had completed at least a bachelor’s degree was much higher in 2021 than in 1980 (39% vs. 18%). More-highly educated 40-year-olds are more likely to have married, but the growth of this group has not reversed the overall trend of delaying or forgoing marriage.

To be sure, we can’t assume that if someone has not married by age 40, they never will. In fact, about one-in-four 40-year-olds who had not married in 2001 had done so by age 60. If that pattern holds, a similar share of today’s never-married 40-year-olds will marry in the coming decades.

Research contact: @pewresearch

Nearly half of young adults are living at home with their parents

December 19, 2022

Young adults in the United States are choosing to live with their parents in an effort to save on rent, according to findings of a new study, reports Fox Business.

Inflation concerns and record-high prices in rent, groceries, and other amenities have caused nearly half of all young adults (48%) between the ages of 18 and 29 to choose to live with their parents, a conglomerate of analysts found, citing data from the U.S. Census Bureau.

The data came from a Pew Research Center analysis, USA Today, the University of Minnesota, and a team of Morgan Stanley analysts led by Edouard Aubin.

One sector that has benefited from the Millennial and the Gen Z decision to stay at home is luxury retailers, the report found, as young adults are spending less (or nothing) on rent and are then using the extra disposable income on higher-end brands of clothing and luxury items. Only one in five Millennials living at home say that their parents charge them rent. Of those, nearly half were paying less than $500 per month.

“When young adults free up their budget for daily necessities, they simply have more disposable income to be allocated to discretionary spending,” Aubin said in the report. “We see it as fundamentally positive for the [luxury] industry.”

“When asked about the incentives to move in with parents, 51% of the young adults said that it was to save money and 39% of them said that it was because they could not afford rent,” said in a survey published on December 5.

The survey, conducted by Pollfish, included 1,200 Americans ages 26 to 41, and about one in four said they lived with a parent.

Aubin and his team of analysts found some of those polled also cited a desire to pursue higher education—using the cheaper rent option to help cover its costs—and intentionally choosing not to depart from their parental protection until their debts are paid off.

The analyst said developments in social media also have helped prompt the additional luxurious spending.”This is of course not the only reason luxury-goods consumers are getting younger in the West (social media also playing an important part), but we see it as fundamentally positive for the industry,” the analysts reported.

Other payment options for luxury goods, such as buy-now-pay-later have also facilitated the increase in high-end spending, according to Quartz.

The report found the figure of young adults staying at home is the highest it has been for decades. The 2022 figure, although down slightly from 2020 (49.5%), is the highest it has been dating back to the 1940s. The recent record was likely exacerbated by the COVID-19 pandemic.

Research contact: @FoxBusiness

170 footwear firms, including Nike and Adidas, sign letter imploring Trump to halt tariffs

May 21, 2019

More than 170 footwear manufacturers, distributors, and retailers—including Nike, Under Armour, AdidasFoot LockerUgg and Off Broadway Shoe Warehouse—signed and delivered a letter to the White House on May 20, asking President Donald Trump to reconsider his decision to raise tariffs on footwear imported from China, CNBC reported.

The request comes after the White House last week released a new list of about $300 billion in Chinese goods that could get hit with 25% tariffs, if Trump decides to move forward. The list includes footwear, CNBC said— everything from sneakers to sandals, golf shoes, rain boots and ski shoes.

The Footwear Distributors and Retailers of America, a trade organization for the industry, has estimated the tariffs could cost shoe shoppers more than $7 billion each year.

“There should be no misunderstanding that U.S. consumers pay for tariffs on products that are imported,” the letter said. “As an industry that faces a $3 billion duty bill every year, we can assure you that any increase in the cost of importing shoes has a direct impact on the American footwear consumer. It is an unavoidable fact that as prices go up at the border due to transportation costs, labor rate increases, or additional duties, the consumer pays more for the product.”

Indeed, if the tariffs are enforced, the price of a pair of shoes could hurtle $15 to $20 higher. The shoe companies estimate that a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff, could increase to $65.57. The price of a typical hunting boot would increase from $190 to $248.56. And a popular performance running shoe could jump from $150 to $206.25, FDRA said.

What’s worse, the shoe companies said, “High footwear tariff rates fall disproportionately on working class individuals and families. While U.S. tariffs on all consumer goods average just 1.9 %, they average 11.3% for footwear; and reach rates as high as 67.5%. Adding a 25% tax increase on top of these tariffs would mean some working American families could pay a nearly 100% duty on their shoes. This is unfathomable

The U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau, making it an industry that is strongly reliant on that country for its cheaper yet skilled labor.

The companies implored the president, “On behalf of our hundreds of millions of footwear consumers and hundreds of thousands of employees, we ask that you immediately stop this action to increase their tax burden. Your proposal to add tariffs on all imports from China is asking the American consumer to foot the bill. It is time to bring this trade war to an end.”

Research contact: @FDRA

American women, single and married, are having more children later in life

January 23, 2018

Women—both married and single—are having children later in life than their mothers or grandmothers did. What’s more, today they are having more offspring than was the case just a dozen years ago, a report by Pew Research Center released on January 18 reveals.

Some 86% of women ages 40 to 44 are mothers now, a six-percentage-point increase over 2006, according to the Pew analysis of U.S. Census Bureau data.

And overall, women are having 2.07 children during their lives on average— up from 1.86 in 2006, the lowest number on record.

The recent rise in motherhood and fertility might seem to run counter to the notion that the U.S. is experiencing a post-recession “Baby Bust.” However, each trend is based on a different type of measurement. The analysis here is based on a cumulative measure of lifetime fertility (the number of births a woman has ever had); while reports of declining U.S. fertility are based on annual rates, which capture fertility at one point in time.

One factor driving down annual fertility rates is that women are becoming mothers later in life: The median age at which women become mothers in America is 26, compared with 23 in 1994. This change has been driven in part by declines in births to teens.

In the mid-1990s, about one-in-five women in their early 40s (22%) had given birth to a child prior to age 20; in 2014, that share had dropped to 13%.

That trend has carried over to women in their 20s: While slightly more than half (53%) of women in their early 40s in 1994 had become mothers by age 24, this share was 39% among those who were in this age group in 2014.

Pew points out, “The Great Recession intensified this shift toward later motherhood, which has been driven in the longer term by increases in educational attainment and women’s labor force participation, as well as delays in marriage.”

However, married or not, women are having babies. Indeed, as the share of women at the end of their childbearing years who have never wed has risen – from 9% in 1994 to 15% in 2014— a majority (55%) of those single women have had at least one child. This marks a dramatic change from two decades earlier, when roughly one-third (31%) of never-married women in their early 40s had given birth.

The share of never-married women in their early 40s who are mothers has risen across all educational levels, as well. As of 2014, 82% of women at the end of their childbearing years with a bachelor’s degree were mothers, compared with 76% of their counterparts in 1994.

And while 79% of women in their early 40s who have a master’s degree also have at least one child, this share was 71% 20 years earlier.

Interestingly enough, by far the most dramatic increase in motherhood has occurred among the relatively small group of women in their early 40s with a Ph.D. or professional degree—80% of whom are mothers. Among their predecessors, just 65% were.

Finally, among women who recently reached the end of their childbearing years, Hispanics are the most likely to have ever given birth: 90% have done so, compared with 85% of black women, 86% of Asian women and 83% of white women. This pattern is similar to that of women at the end of their childbearing years in the mid-1990s.

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Cost of child-raising in America up to nearly $250K

November 27, 2017

Having children may make your life experience richer, but your bank account is bound to suffer. Taking food, childcare, healthcare, transportation, and education costs into account, the average American two-parent family is now spending a total of $233,610 to raise a child from birth through age 17, according to data from the U.S. Department of Agriculture.

But that figure can fluctuate — becoming more or less affordable — when you consider the average cost-of-living expenses and wages in different regions nationwide.

Using MIT’s Living Wage calculator, the personal finance guide, CreditLoan, recently worked out the average expense of raising a child in each state, based on two variables—(1) for a one-parent, one-child household and (2) for a two-parent, one-child household. Those results were posted on Business Insider’s website on November 24.

After calculating the average of those numbers, Credit Loan factored in the U.S. Census Bureau’s median income for each state, in order to determine how much of a household’s budget would be spent on child-related costs.

Housing accounts for one-third (33%) of the total estimated cost of raising kids, while food, childcare, and education costs make up another 33% of the overall budget, according to the US Department of Agriculture.

Based on this process, the guide came up with the five states where it’s most affordable to raise kids — and the five states where it’s least affordable, as follows:

  • Least expensive states: In New Jersey, Maryland, Connecticut, Massachusetts and New Hampshire, parents can expect to put less than 60% of their total income into child-related costs; but
  • Most expensive states: In Nevada, Florida, Arizona, New Mexico, and New York, the least affordable states in which to have children, child-related costs will eat up more than 80% of the household income.

Couples tend to earn more and, as a result, spend more on their children, according to Credit Loan’s analysis.

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