Millennials are actually really good at saving — but it might be slowing down the US economy

Millennials are saving their money — but it could be hurting the US economy, reported Pippa Stevens for CNBC, citing a note a Raymond James analyst wrote to clients. The personal savings rate in the US has increased from 5.7% in 1996 to 8.1% in 2019, according to the St. Louis Fed. Jason Dorsey, a researcher of millennials, previously told Business Insider that the Great Recession has made millennials more risk-averse and practical when it comes to money.

Millennials are saving their money — but it could be hurting the US economy, reported Pippa Stevens for CNBC, citing a note a Raymond James analyst wrote to clients. The personal savings rate in the US has increased from 5.7% in 1996 to 8.1% in 2019, according to the St. Louis Fed. Jason Dorsey, a researcher of millennials, previously told Business Insider that the Great Recession has made millennials more risk-averse and practical when it comes to money.

So spend more. Got it mr economy.

A full damn hoodie is minimum 40 dollars. What the actual fuck?

If companies actually paid a fair living wage appropriate to the work ppl do instead of making their ceo even richer, they wouldn't be as spendthrift

What happened to all the studies that said they are buried in student debt, spend foolishly on experiences and can’t afford a house because they buy too many avocados? briank2691

God forbid we save what little money we do have

IMG...THE TRAITOR IS RUINING THE ECONOMY

Hey...I have an idea! Let's blame the slow down of the economy on young Americans! We've already strapped those suckers and their parents with debt for life!

MiLleNiaLs ArE rUiNiNg tHe EcOnOmY

If I was living in the right area again for collecting second hand stuff for indoor outdoor use. Wouldn't create much money for me as scrap metal and appliances would but if it gets millennial's by on using second hand stuff, I'd be Selling second hand stuff dirt cheap

It isn't the millennials. Money velocity is low because the rich are greedy and all that fake printed money is creating asset bubbles. It never trickles down.

Don’t hold your breath

The stereotype was Millennials are lazy, can’t handle their finances.... Now the truth comes out: Millennials are better savers than most and it’s out of necessity.

jerkoff-motion.gif

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Treasury yields tick higher as traders monitor US-China trade talksU.S. government debt yields edged higher on Monday morning as traders digested last week's jobs report and monitored trade developments between Washington and Beijing.
Source: CNBC - 🏆 12. / 72 Read more »

'They abandoned us': Commanding general of US-allied Kurdish forces rails against US plans to pull back from SyriaPresident Donald Trump's sudden decision to pull back U.S. forces in Syria ahead of a possible Turkish assault on U.S. partners on the ground in the war-torn country's northeast has sparked a fierce backlash. The move has been condemned by Republican and Democratic lawmakers, with U.S. officials Oh well. Get the UN to fight for you.
Source: YahooNews - 🏆 380. / 59 Read more »

Box Office: 'Joker' Has the Last Laugh With Record $96M U.S. Bow, $237M GloballyThe nihilistic R-rated pic exceeded expectations despite heightened security at domestic theaters; it also raked in $140.5 million overseas. Thanks snowflakes!
Source: THR - 🏆 411. / 53 Read more »

U.S. puts Hikvision, Chinese security bureaus on economic blacklistThe U.S. Commerce Department on Monday placed 28 Chinese public security bureaus... Take ACTION against climate change and save MONEY on gas with this e-bike! Can’t win the match until you got a black ball. Game doesn’t start. They put NBA on their list. Well
Source: Reuters - 🏆 2. / 97 Read more »