County economic study results in (2024)

FAQs

What percent of Americans live comfortably? ›

At the end of 2022, 73 percent of adults were doing at least okay financially, meaning they reported either “doing okay” financially (39 percent) or “living comfortably” (34 percent).

Most economic impact studies focus on three broad measures: income, direct spending, and visitor indirect spending. A measurement of income is needed to account for the scale of change from financial inputs to economic outputs.

The economic effects of a project or program can be divided into direct effects (initial expenditures, persons directly employed, etc.) and secondary effects. To estimate the secondary effects of a project, most analysts employ input-output models, which quantify the linkages among sectors of the area economy.

Some examples of practical uses include: A local government analyzing a change in property taxes or increase in minimum wages. Analyzing the full local benefits of a start-up project to help persuading a bank to grant a loan.

Living paycheck to paycheck by income

According to a recent PYMNTS report, as of November 2022, 76 percent of U.S. adults who make less than $50,000 are living paycheck to paycheck, compared to 65.9 percent of those making $50,000 to $100,000 and 47.1 percent making more than $100,000.

14% of Americans Have $100,000 Saved for Retirement

Most Americans are not saving enough for retirement. According to the survey, only 14% of Americans have $100,000 or more saved in their retirement accounts. In fact, about 78% of Americans have $50,000 or less saved for retirement.

An economic impact study is a way to measure the resulting increase in output produced, incomes earned and jobs created or supported.

Organizations use economic impact analysis to determine direct and indirect effects of businesses within a market or an economy, and how changes in public policy and investments affect the local, state or national economy.

There are three types of effects measured with a multiplier: the direct, the indirect, and the induced effects.

With an integrated approach, Hacker et al. (2010, 2014) measure economic insecurity as the percentage of individuals who experience a large drop in their household income from one year to the next and lack enough liquid financial wealth to cope with that loss.

How do you measure economic situation? ›

Economic indicators include measures of macroeconomic performance (gross domestic product [GDP], consumption, investment, and international trade) and stability (central government budgets, prices, the money supply, and the balance of payments).

Evaluating the quality of employment, including wages, working conditions, and job security, helps assess economic well-being at the individual level. Social Indicators: Social indicators encompass factors such as education, healthcare, social support, and access to essential services.

The direct impact includes institutional, employee, and visitor spending on the institution. Indirect impact, also known as the multiplier effect, includes the re-spending of dollars within the local economy by vendors/ suppliers and households.

Law of demand, which studies the relationship between the price of a good and the quantity purchased, is an apt example of positive economic analysis.

Official Poverty Measure

The official poverty rate in 2022 was 11.5 percent, with 37.9 million people in poverty. Neither the rate nor the number in poverty was significantly different from 2021 (Figure 1 and Table A-1).

Among Americans, 73% say they belong to the middle or working classes, according to an April 2022 survey from Gallup. Additionally, 14% identify themselves as upper-middle class and 2% categorize themselves as upper class.

SAN MATEO, Calif., Aug. 22, 2023 /PRNewswire/ -- Despite most Americans having modest expectations of what it means to attain financial freedom, just 1-in-10 (11%) report they are living their definition of financial freedom, according to a new survey by Achieve, the leader in digital personal finance.

Almost 40% of American adults report they struggle to make ends meet each month, an increase from 34.4% in 2022 and 26.7% in 2021. At 46.2%, Louisiana had the highest percentage reporting financial struggles followed by Mississippi (45.7%) and Arkansas (45.6%).