I found this interesting chart from the St. Louis Federal Reserve site. I went looking for information on the country's savings rate since I'd heard that it was very low. At first glance, the chart confirms that our country's savings rate is the low indeed. The sliding slope downward confirms that we are not a nation of savers at all. Notably, though, the savings rate does seem to jump slighly during those times of recession. The pundits on the TV keep telling us all that we are in a recession. If that is so, the chart is lacking a gray bar for 2008. The last little spike on the chart could be the stimulus check since many people did spend some of that money, but tried to put money back in savings.
How does your family rate? Are you saving more than 1%, which appears to be what Americans are saving now, compared to much higher amounts of decades past.
Another chart to view
No comments:
Post a Comment