In the News

Title

U.S. Households Saving Less The Past Two Years

Document Type

Article

Publication Date

8-21-2017

Abstract

Hidden in numbers released by the Commerce Department last week was the startling revelation that average household savings has plummeted by nearly half in two years.

In June, the personal savings rate was 3.8 percent, down from 2015, when households were putting away 6.3 percent of after tax-income on average, according to Commerce’s Bureau of Economic Analysis.