'They should be scared. They should feel insecure. They should be unhappy with their government'
These have all been recurring themes over the past few weeks, in the run up to and in the aftermath of the shock election of Donald Trump as president. And in the post-election analysis, it has becoming increasingly clear that the US is more divided than many people had realized.
With that in mind, we set out to examine the state of the US consumer using recent research from the Federal Reserve, Wall Street analysts and academics. The key takeaways include:
- The rich are getting richer, while the poor are still poor.
- A large chunk of Americans report that their income falls below or barely covers their expenses.
- There has been a hollowing out of middle-skill jobs, which has disproportionately impacted men lacking in a four year c0llege degree.
- Those with a high school degree or less are much more likely to say their financial position is deteriorating.
- Close to half (46%) of Americans would struggle to cover an unexpected $400 expense.
- Real wages are stagnating, especially for those who are 40 or over.
- Healthcare costs, which have been increasing, are a key concern for many Americans.
- One in five has had to go without a trip to the dentist, and one in nine a visit to the doctor.
With that, let's get in to the charts: