US Birth & Fertility Rates Hit New Record Lows: Why?
The US Centers For Disease Control and Prevention reported last week that the US birth rate plunged for its sixth consecutive year in 2020. The US fertility rate also hit a new record low. Demographers are puzzled at this potentially troubling trend...
Components of the CPI: April 2021
Let's do some analysis of the Consumer Price Index, the best-known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U.
Middle-Class Wages in April 2021
We've updated this series to include the April release of the Consumer Price Index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $43,774, down 5.7% from 45-plus years ago.
How to Improve the Virtual Client Meeting Experience
My guest today, Ryan Sullivan, has written that, in crisis moments, the “pros” are “active.” If a client hasn’t called you, don’t assume they are not concerned. If they get the sense you’re avoiding contacting them, they may reach out to another financial professional for help. But in-person meetings have been ill-advised and phone calls don’t provide the level of connection clients need. Virtual meeting technology is a great option for staying in touch with clients, and Ryan is here to share his research on this topic.
Demographic Trends for the 50-and-Older Work Force
Note: This commentary has been updated with the latest numbers from last Friday's Employment Report. Consider: Today nearly one in three of the 65-69 cohort and one in five of the 70-74 cohort are in the labor force.
U.S. Workforce: April 2021 Update
We've updated our monthly workforce analysis to include last Friday's Employment Report for April. The unemployment rate inched up to 6.1%, and the number of new nonfarm jobs (a relatively volatile number subject to extensive revisions) came in at 266K.
Long-Term Trends in Employment by Age Group
The Labor Force Participation Rate (LFPR) is a simple computation: You take the Civilian Labor Force (people age 16 and over employed or seeking employment) and divide it by the Civilian Noninstitutional Population (those 16 and over not in the military and or committed to an institution).
The Current State of Retirement Income
Retirement planning has evolved from a singular focus on savings to ensuring that account values provide income for life. Multiple generations of DC plan participants are concerned that they’ll outlive their retirement savings, and they’re turning to plan sponsors for solutions.