WASHINGTON — The median U.S. household’s income finally topped pre-recession levels last year and has reached an all-time high after years of sluggish growth. The Census Bureau says the median income, adjusted for inflation, rose 3.2 percent from 2015 to 2016 to $59,039. After two straight years of solid income gains, the median American household...
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MAY 20, 2013
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RICHARD J. ROY
45 ROCKEFELLER PLAZA
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2013 - LUCROR ENERGY AND INFRASTRUCTURE GROWTH AND INCOME GP, LLC
AROUND THE WEB
- American household income last year topped 1999 peak
By Associated Press - Tuesday Sep 12, 2017
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By THE NEW YORK TIMES - Friday Sep 15, 2017
Highlights from the shows, including a celebrity-packed front row at Calvin Klein and a trek to Bedford Hills, N.Y., to see Ralph Lauren’s vintage cars.
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By ANNA NORTH - Friday Aug 18, 2017
New York is becoming a cultural center for young women trying to disrupt the male-dominated industries of design engineering and sex toys.
- Hopes of ‘Trump Bump’ for economy shrink as growth forecasts fade
By Nelson D. Schwartz - Thursday Jul 6, 2017
While the June jobs report, coming Friday, is expected to show that hiring continued at a healthy pace last month, other recent indicators in areas like consumer spending, construction and auto sales have been decidedly less robust.While hardly terrible, it is not the burst of growth — a “Trump bump” — that many expected to result from an upturn in consumer and business sentiment after President Trump’s election.[...] the Federal Reserve Bank of Atlanta’s widely followed GDP Now forecast expects the second-quarter growth figure to come in at 3 percent, more than a full percentage point below where it was in May.“We never seem to have the rebound that people anticipate,” said Stephanie Pomboy, an independent economist in New York who has been skeptical about initially rosy forecasts favored by many of her colleagues in recent quarters.Far from living up to expectations of a lift after Trump’s election, the growth rate in the first quarter turned out to be an anemic 1.4 percent.The indicators that Trump highlighted in recent messages on Twitter are indeed pointing in the right direction — strong job creation, a record high for the Dow Jones industrial average and low gasoline prices.Experts say that without a meaningful change in government policies — greater infrastructure investment, an overhaul of the corporate tax code, a new commitment to improve the skills of American workers — there is no reason to expect the domestic outlook to change.With higher borrowing costs practically inevitable in the future, Anderson said, “the real tragedy is that the price tag for any future infrastructure spending will be a lot higher.”Pomboy pointed out that changing consumer habits in the wake of the financial crisis and the recession — notably an increased wariness about spending and taking on debt — also explain what is looking more and more like a long-term downshift.The household savings rate, which bottomed out at 2.2 percent amid the housing bubble in 2005, now stands at 5.5 percent.In addition to being more cautious about spending in general and about borrowing against their homes in particular, Pomboy said, consumers are holding back on discretionary purchases because of the rising health insurance premiums and medical costs as well as onerous student debt payments.Nariman Behravesh, chief economist at IHS Markit, goes so far as to say, “we’re chugging along here,” citing healthy income growth and hiring, as well as a strong housing market.Macroeconomic Advisers, a St. Louis research firm whose crystal ball is highly regarded among forecasters, began the second quarter by calling for 3.6 percent growth but now estimates the rate will be more like 2.5 percent.
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By TATIANA BONCOMPAGNI - Tuesday Jun 13, 2017
Cycling, boxing and running studios, as well as some full-service gyms, are using sophisticated lighting systems to heighten the exercise experience.
- US consumer spending and income growth both weak in June
By firstname.lastname@example.org (Fox News Online) - Tuesday Aug 1, 2017