Why has the American economy grown so slowly since the Great Recession? This year, GDP growth will fall somewhere in the 1.5% to 1.8% range, below the 3% growth rate that is considered a sign of robust economic health. Critics have blamed everything from China’s slowdown to globally outsourced manufacturing to fiscal fights in Washington.
We look at the unemployment statistics in the newspaper and see a blended picture of all Americans. Currently, we are told, 4.6% of Americans who are looking for a job are unable to find one. But what is the figure for adult men and women over age 20? Or for people with a high school diploma vs. those who are college-educated?
You haven’t heard much about the U.S. government’s debt, in part because, as a percentage of the economy, the growth of our national debt has slowed dramatically.
Every year, we celebrate a long Labor Day weekend, and mostly take for granted the remarkable economic engine that employs 125.89 million Americans.
Recently, Forbes magazine tweeted a number of Labor Day statistics that will probably surprise you. Most Americans work in one of five different sectors:
14% in professional and business services
In recent years, a new category of assets has appeared on the scene, which can be more complicated to pass on at someone’s death than stocks, bonds and cash. The list includes such valuable property as digital domain names, social media accounts, websites and blogs that you manage, and pretty much anything stored on the cloud.
Your daughter or grandson wants to get hired right out of college, without a lot of job hunting. So what degree should you recommend that they pursue?
Have your long-term financial goals changed in the last three days?
Are American companies less valuable because investors in China are panicking?
Is there any reason to think that because Chinese investors are panicking, that Chinese companies are less valuable today than they were a few days ago?