Low Marriage Rates Negatively Affecting US Economycarolyncastiglia
The Gallup organization recently polled Americans about their spending habits and found that “married Americans spend more than those in any other marital status category, across age groups.” Therefore, pollsters declare, “if the marriage rate increases, overall spending in the U.S. may increase and benefit the U.S. economy.” Unfortunately, though, U.S. marriage rates have been on a steady decline for the last decade, and dropped to a new low this year. Decreasing marriage rates could be explained by the fact that women are getting married much later in life than they have in the past, and the marriage rate is calculated by looking at the percentage of women over 15 who get married each year. (15? Seems ridiculous, right?)
Married Americans spend more than the average American, Gallup notes, in part because they have higher-than-average incomes. They also tend to have great educations under their belts, which lead to better jobs. Married Americans “report a daily spending average of $102, followed by $98 among those who are living in domestic partnerships, $74 by divorced Americans, $67 by those who are single and never married, and $62 by those who are widowed.” On the one hand I’m surprised that divorced people spend more than single people, but divorced people often have children to feed and clothe, thus resulting in extra spending, while single people “have lower-than-average incomes,” according to Gallup. Researchers suggest that America’s marriage rate will soon go up, “based on a pent-up demand for marriage,” so hopefully the economy will take an upward turn, too.
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