Posts Tagged ‘ economy ’

Study: Bad Economy Stopping Parents from Buying Cars for Teens

Wednesday, September 21st, 2011

A new study conducted by the insurance company Allstate has found that sixty percent of American parents whose children hold drivers’ licenses say the economic downturn has led them to cut back on driving expenses, including buying cars for their teens.

MarketWatch reports:

Not surprisingly, income is a factor in spending and saving decisions.

Nearly three-quarters (72 percent) of parents in households earning less than $30,000 per year say they are saving or spending less on their children’s driving, while just one-third (32 percent) of those in households earning more than $75,000 say the same.

Interestingly, among parents who already have a child with a driver’s license, 73 percent say their child has their own car, while another eight percent say their child shares a car with a sibling.

This rate of teenage car ownership is considerably higher than what parents experienced when they were first driving (just 48 percent had their own car or shared with siblings), and also much higher than what is expected among parents whose children do not yet have a license (just 48 percent expect their children to have their own car).

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US Births Down for a Third Consecutive Year, Weak Economy Blamed

Thursday, June 16th, 2011

An initial review of each state’s birth certificates by the Centers for Disease Control and Prevention reveals a decline in the number of births nationwide, for the third year in a row following the peak in 2007.

After recording 4.3 million births in that year, the number has dropped steadily, down 3 percent last year for a total of 4 million births.

According to the Associated Press, the weak economy may be a decisive factor:

Experts believe the downward trend is tied to the economy, which officially was in a recession from December 2007 until June 2009 and is still flagging. The theory is that women who are unemployed or have other money problems feel they can’t afford to start a family or add to it.

In 2008 and 2009, the only increase in births was in women older than 40 — considered more sensitive to the ticking of their biological clocks.

A drop in immigration to the United States, blamed on the weak job market, may be another factor in last year’s decline.

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