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.
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