KEY IDEA: Even though unemployment is at an all-time low fewer than half (46%) of those who were adults at the time of the recession say they’ve seen their paychecks grow since before it began. With Millennials strapped by student loan debt and increases in health insurance payments they, like a lot of other people, are hurting financially.
- 84% of our GDP is in the service sector.
- The last time our trade deficit went down was the financial crisis in 2008.
- Bigger trade deficits are actually a good sign for the economy.
- Our economy has to keep reinventing itself.
Consumers, who drive the economy, are starting to cut back and it should have marketers worried. It could mean a recession or it could be just pre-election jitters, but the time to prepare for possible changes are now.