Americans under 35 are carrying significantly less debt than they were before the 2008 financial crisis according to a new study released Thursday by the Pew Research Center. The reasons? Millennials—people between the ages of 18-34—are staying in school longer, getting married later and delaying buying big purchases like cars and houses that typically rack up debt. - See the study here
47 PERCENT OF DETROIT DIDN’T PAY TAXES More than half of Detroit’s residents were delinquent on their tax bills in 2011 resulting in a $246.5 million shortfall. - Read more at The Detroit News
CONSUMER AGENCY NEEDS STUDENT LOAN ADVICE The Consumer Financial Protection Bureau (CFPB) is inviting the public to make suggestions on how to make student loan repayments easier and more affordable for young Americans graduating from college with huge amounts of debt. The agency is taking suggestions until April 8 before making policy recommendations to lawmakers. - Read more at Reuters
WAGES TICK UP IN JANUARY Good news, wages are up. According to new date released this morning by the Bureau of Labor Statistics real average hourly wages ticked up by 0.6 percent from last January. “Rising wages speak to a growing, healthy economy, and that ultimately is the best thing for equities,” The Wall Street Journal’s Paul Vigna writes. But don’t get too excited…”Wage growth is a fragile flower, and we fear that any headwind, and there are several amassing, may be enough to scatter it to the four winds.” - Read more at the Wall Street Journal
