The most expensive thing most Americans own, after their house, is their car. On average, Americans spend 5% of their income on purchasing a car. Another 5% goes towards on-going maintenance and insurance costs. More
Why America’s men aren’t working
The problem is particularly pronounced among men between the ages of 25 and 54, traditionally considered the prime working years. Their participation rate has been declining for decades, but the drop-off accelerated during the recession. The high mark was 98 percent in 1954, and it now stands at 88 percent. A new analysis from the White House’s Council of Economic Advisers, slated for release Monday, found that the United States now has the third-lowest participation rate for “prime-age men” among the world’s developed countries.
In other words, Greece, Slovenia and Turkey have a larger share of men in their workforces than the United States does. The United States beats only Italy and Israel. More