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The U.S. labor force participation rate ticked up slightly YOY in Q1 2017—despite the downward drag posed by a slower-growing working-age population. The single largest contributor to higher LFP was fewer consumers staying home for family responsibilities, a trend rooted in a declining U.S. birthrate.
Initial jobless claims fell to 223,000 last week, the lowest level since 1973. While experts may point to this figure as evidence that the U.S. economy is finally back on its feet, plenty of signs of labor market slack remain—such as declining labor force participation.
Fully 114 of the 242 S&P 500 companies that held investor events in January referenced Donald Trump—with many executives preaching patience and optimism. Though companies and investors remain sold on the “Trump rally,” beware: Full-on “Trumponomics” still has significant hurdles in its way.
New Congressional Budget Office projections indicate that the U.S. federal deficit will more than double to $1.4 trillion by 2027, in part due to the retirement of Boomers. This aging generation is poised to put an ever-greater strain on an already overburdened Social Security and health care system.
National financial data show that the Silent Generation has by far the highest credit score of any generation (with a 730 average), while other generations’ scores range from 700 to 630. It’s not surprising that the generation that came of age during the Great Depression would do their best to remain debt-free and in good financial standing.