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The share of U.S. adults under 50 who say they are unlikely to ever have children rose from 37% in 2018 to 47% in 2023. Childless couples have an average net worth of $1.9 million, 61% more than couples with children. 1
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U.S. companies announced 108,000 job cuts in January, more than double a year ago. It was the highest January for layoffs since 2009, led by UPS (30,000) and Amazon (16,000). 1
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Gen Z investors are increasingly allocating money to the stock market rather than to homeownership. The share of 25- to 39-year-olds making annual transfers to investment accounts tripled from 2013 to 2023 to 14.4%. 2
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Americans are estimated to have spent roughly $200 on Valentine’s Day this year, an all-time high and up from $188.81 last year. Since 2021, prices across related gift categories have risen at double-digit rates, with chocolate prices up by more than 70%. 3
- MFS – “Beyond the News”
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WSJ – “Gen Z, Locked Out of Home Buying, Puts Its Money in the Market”
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CBS News – “How Much Money Is Spent on Valentine’s Day?”
*Past performance is not indicative of future performance
Economic Calendar
Monday:
None scheduled, President’s Day holiday
Tuesday:
Empire State manufacturing survey (Feb), Chicago Fed President Austan Goolsbee TV appearance, Home builder confidence index (Feb), Fed Governor Michael Barr speaks, San Francisco Fed President Mary Daly TV appearance
Wednesday:
Housing starts (Nov, Dec), Building permits (Nov, Dec), Durable-goods orders (Dec), Durable-goods minus transportation (Dec), Industrial production (Jan), Capacity utilization (Jan), Fed Vice Chair for Supervision Michelle Bowman speaks, Minutes of Fed’s January FOMC meeting
Thursday:
Initial jobless claims (Feb 14), U.S. trade deficit (Dec), Philadelphia Fed manufacturing survey (Feb), Advanced U.S. trade balance in goods (Dec), Advanced retail inventories (Dec), Advanced wholesale inventories (Dec), Fed Vice Chair for Supervision Michelle Bowman speaks, Minneapolis Fed President Neel Kashkari speaks, Leading economic index (Dec)
Friday:
GDP (Q4), Personal income (Dec), Personal spending (Dec), PCE index (Dec), PCE year over year, Core PCE index (Dec), Core PCE year over year, S&P flash U.S. services PMI (Feb), S&P flash U.S. manufacturing PMI (Feb), Atlanta Fed President Raphael Bostic speaks, New home sales (Nov, Dec), Consumer sentiment (Feb)
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