The popular narrative is that households have done a good job of repairing their balance sheets since the Great Recession by paying down debt during the current economic expansion.
But is that really true?
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on June 22.Key observations:
- According to a Federal Reserve report, nominal household debt hit a record high $15.3 trillion in the first quarter of 2018.
- This additional debt has helped support the second longest economic expansion in history.
- Household debt as a share of disposable income has mostly been declining since hitting a high of 133.7% since the fourth quarter of 2007.
- Household debt levels remain quite different by state.
Read More ›
California’s job creation continues to outperform the nation, but job growth has slowed as more metro areas exceed full employment.Read More ›
California’s nut processors are battling a wave of heists worth millions of dollars.Read More ›
Overall, 2015 provided an embarrassment of riches in what we didn’t need and a dearth of what we were hoping for.Read More ›
Average personal income growth for all states was up 4.4% in 2015, with the Western and Southeastern states showing the strongest percentage gains in personal income.Read More ›