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While the the unemployment rate has increased this year in the wake of the recession, personal incomes, on average, rose in the U.S. as a result of fiscal stimulus, said Lyn Alden, founder of Lyn Alden Investment Strategy.
“We had a major decrease in employment. However, government transfer payments, in most cases, compensated for that unemployment loss. Many people, for example, received more income despite being unemployed than they did when they were employed,” Alden said, noting that people on the higher end of the income spectrum who lost their jobs would have experienced a net loss, while people who did not lose their jobs and still received stimulus checks saw a gain in income.
0:18 - Personal incomes rose despite lower employment rate
2:34 - High savings rate
3:07 - Labor force participation rate decline
9:05 - Labor force dependency ratio
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“We had a major decrease in employment. However, government transfer payments, in most cases, compensated for that unemployment loss. Many people, for example, received more income despite being unemployed than they did when they were employed,” Alden said, noting that people on the higher end of the income spectrum who lost their jobs would have experienced a net loss, while people who did not lose their jobs and still received stimulus checks saw a gain in income.
0:18 - Personal incomes rose despite lower employment rate
2:34 - High savings rate
3:07 - Labor force participation rate decline
9:05 - Labor force dependency ratio
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit www.kitco.com/
Follow us on social media:
Facebook - www.facebook.com/KitcoNews/?ref=br_rs
Twitter - twitter.com/kitconewsnow
Google+: plus.google.com/u/0/116266490328854474588
StockTwits - stocktwits.com/kitconews
Live gold price and charts: www.kitco.com/gold-price-today-usa/
Live silver price and charts: www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.