Document of the Day. The results of a survey conducted on behalf of the Board of Governors of the Federal Reserve System have been reported in the news recently.
- Survey of Household Economics and Decisionmaking
- Federal Reserve Board issues Report on the Economic Well-Being of U.S. Households FRB: Press Release (May 27, 2015).
- Report on the Economic Well-Being of U.S. Households in 2014 [Full Report. PDF. 108 pp] Board Of Governors Of The Federal Reserve System (May 2015)
Some of the findings of the report include:
- Only 53 percent of respondents indicate that they could cover a hypothetical emergency expense costing $400 without selling something or borrowing money.
- 23 percent of the adult population has some form of education debt.
- 31 percent of non-retirees have no retirement savings or pension. Among lower-income respondents, 55 percent plan to keep working as long as possible or never plan to retire.
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.