Family wealth generally increases with education. But new research shows that race and ethnicity can greatly affect the relative payoff. There’s a gap—sometimes wide—between the wealth of Hispanics and African-Americans and the wealth of whites and Asians at every education level, from those with only a high school diploma to those with an advanced degree.
Auto and student loans remained the fastest growing consumer debt categories in the second quarter, a Center for Household Financial Stability report states.
Following the two latest recessions, the growth in high-paying jobs was stronger, on a percentage basis, than was the growth in low-paying jobs. The opposite happened after the previous two recessions.
Quantitative easing has led to the largest expansion of the Fed’s balance sheet since WW II. While this, naturally, leads to concern about inflation, the Fed has the tools to unwind the balance sheet once the economy builds steam.
Not only are nations wrestling with growing debt levels, but so are state and local governments, including those in the seven states that make up the Eighth Federal Reserve District. Two of those seven states—Kentucky and Illinois—each have combined state and local obligations that, as a percentage of gross state product, are higher than California's.
Conventional wisdom says that employment at small firms declines more than employment at large firms during recessions. However, that doesn’t seem to have been the case during the Great Recession of 2007-09.