Anna Wong
@AnnaEconomist
Chief US Economist, Bloomberg LP @economics. Former Fed/CEA/US Treasury, PhD @uchi_economics BA @UCberkeley. All opinions are my own.
Joined May 2022
292 Following 237.5K Followers
This is the “sandwiched generation.”
BREAKING: US consumers aged 40-49 now account for 26.8% of new consumer bankruptcies, their highest proportion since Q3 2015 and the largest among all age groups.
At the same time, the 50-59 group represents 23.1%, bringing the combined proportion of Americans aged 40-59 to 49.9%, the largest since Q1 2017.
To put this into perspective, this figure peaked at 54.3% in Q4 2011, following the 2008 Financial Crisis.
Furthermore, those aged 70+ now make up 21.5% of all new consumer bankruptcies, their largest proportion since Q2 2017.
Meanwhile, Americans aged 18-29 now account for only 5.9% of new bankruptcies, their lowest percentage since Q2 2014.
Older Americans are falling behind on their debt.
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