The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, the percentage of teenagers who are working in America is abysmally low. In the 1950s, almost half of teenagers were working. That work rate slid slightly in the 40 percent to 45 percent range when baby boomers and Gen Xers were teens in the 1970s, and 1980s.
Continue reading Work Ethic: Teenagers Just Don’t Work Anymore
file photo by ArtChick
June 23,2018
the staff of the Ridgewood blog
Washington DC, Approximately half (51.4 percent) of the nation’s 531 counties that were getting younger between April 2010 and July 2017 were in the Midwest, according to newly released 2017 population estimates. Out of the counties that were getting younger, the South also had a high proportion (32.4 percent) of the counties that experienced a decrease in median age — the age where half of the population is younger and the other half is older— followed by the West (14.1 percent), and the Northeast (2.1 percent).
“Nationally, almost 17 percent of counties saw a decrease in median age from April 2010 to July 2017. The majority of the counties getting younger were in the Midwest, and of these counties with 10,000 people or more in July 2017, some of the largest decreases were in North Dakota, South Dakota and Nebraska,” said Molly Cromwell, a demographer at the U.S. Census Bureau. “Williams County, N.D., had the largest decrease in median age, declining by 7.1 years.”
Despite the decrease in median age in many of the Midwest’s counties, a majority of counties in the country continued to grow older. The nation as a whole experienced a median age increase from 37.2 years to 38.0 years during the period 2010 to 2017. This continued aging of the country is consistent with the projected changes to the nation’s population through 2060.
“Baby boomers, and millennials alike, are responsible for this trend in increased aging,” Cromwell said. “Boomers continue to age and are slowly outnumbering children as the birth rate has declined steadily over the last decade.”
Last year, Florida had the largest percentage of seniors (age 65 and older) with 20.1 percent, followed by Maine (19.9 percent) and West Virginia (19.4 percent). Maine also saw its median age increase to 44.7 from 42.7 years old in 2010, making it the state with the highest median age.
On the other hand, Utah had the smallest percentage of its population age 65 and older (10.8 percent), followed by Alaska (11.2 percent) and the District of Columbia (12.1 percent). Utah is also the state with the lowest median age (30.9 years).
View our graphics on change in median age from 2010 to 2017 at the county level and the median age in 2017 to see how the nation has changed.
Population Continues to Become More Diverse
At the same time that the U.S. population becomes older, it also is becoming more diverse by race and ethnicity. Nationally, the population of all race and ethnic groups, except for the non-Hispanic white alone group, grew between July 1, 2016, and July 1, 2017. View our graphic on the age and race distribution from 2010 to 2017 to see how the nation has grown more diverse. References below to the race and ethnic compositions of county populations apply only to those counties with a total population of 10,000 or more.
The Hispanic population increased 2.1 percent to 58.9 million.
The black or African-American population increased 1.2 percent to 47.4 million.
The Asian population increased 3.1 percent to 22.2 million.
The American Indian or Alaska Native population increased 1.3 percent to 6.8 million.
The Native Hawaiian or Other Pacific Islander population increased 2.1 percent to 1.6 million.
The population of those Two or More Races increased 2.9 percent to 8.7 million.
The white alone-or-in-combination population increased 0.5 percent to 257.4 million.
The non-Hispanic white alone population decreased .02 percent to 197.8 million.
The Hispanic Population (All Races)
The Hispanic population made up 18.1 percent of the nation’s total population in 2017, primarily due to natural increase (the difference between births and deaths).
California had the largest Hispanic population (15.5 million), and Texas saw the largest numeric increase in Hispanic population (234,000 people).
Los Angeles County, Calif., had the largest Hispanic population of any county (4.9 million), and Starr County, Texas, had the highest percentage of Hispanics with 96.3 percent.
The Black or African-American Population
Texas had the largest black or African-American population (3.8 million) and the District of Columbia had the highest percentage of the black or African American alone-or-in-combination population (48.8 percent).
Cook County, Ill., had the largest black or African-American population of any county (1.3 million).
Clark County, Nev. had the largest numeric increase of black or African-American population of any county (14,000). There were 104 counties nationwide that had a majority black or African-American population, led by Holmes County, Miss. (83.2 percent).
The Asian Population
Asians were the fastest-growing racial group in the nation. Their increase is primarily due to net migration.
California had the largest Asian population (6.8 million).
Hawaii was the only state where the Asian population represented a majority of the population (57.1 percent).
The American Indian or Alaska Native Population
California had the largest American Indian or Alaska Native population (1.1 million), and Alaska had the highest percentage (20.0 percent).
Los Angeles County, Calif., had the largest American Indian or Alaska Native population of any county at 233,000.
Oglala Lakota County, S.D., had the largest percentage of the American Indian or Alaska Native population (93.9 percent).
The Native Hawaiian or Other Pacific Islander Population
The median age of the Native Hawaiian or Other Pacific Islander population increased the most of any race group (2.3 years), rising from 26.4 years old in April 2010 to 28.7 years old in July 2017.
Hawaii had the largest number (382,000) and proportion (26.8 percent) of the Native Hawaiian or Other Pacific Islander population.
Honolulu County, Hawaii, had the largest Native Hawaiian or Other Pacific Islander population (245,000) in 2017. Clark County, Nev., had the largest numeric increase for the Native Hawaiian or Other Pacific Islander population (1,400) in 2017.
The Two or More Races Population
Those who identify as two or more races made up the second-fastest growing race group (2.9 percent) in the nation. Their growth is due primarily to natural increase.
The two or more races group had the youngest median age of any other race group at 20.4 years.
California had the largest two or more races population (1.5 million) and Hawaii had the highest proportion (23.8 percent).
White Alone-or-in-Combination and the Non-Hispanic White Alone Population
The non-Hispanic white alone group was the only race group to experience population decline between 2016 and 2017 (-0.02 percent). Of all the alone-or-in-combination race groups, the white alone-or-in-combination group grew the slowest (0.5 percent).
Both the non-Hispanic white alone and white alone-or-in-combination populations had the highest median ages compared to the other race groups at 43.5 years and 39.2 years, respectively. The non-Hispanic white alone population is projected to continue aging and declining, with one-third of children projected to be non-Hispanic white alone by 2060, as compared to over one-half projected to be older adults.
The four states with the largest percentage of non-Hispanic white alone populations: Maine (93.3 percent), Vermont (92.9 percent), West Virginia (92.2 percent) and New Hampshire (90.5 percent) are also the four oldest states by median age with 44.7, 42.9, 42.5 and 43.1 years old, respectively.
This is the last of the population estimates for 2017. Previous estimates include national, county, metro area, city and town population estimates. The population estimates as of July 1, 2017, do not reflect displacement or other migratory changes to the nation’s population due to Hurricanes Harvey, Irma and Maria in August and September 2017. For information on how the country is projected to change through 2060, view our previous release, Older People Projected to Outnumber Children for First Time in U.S. History.
Published: May 17, 2017 9:43 p.m. ET
Young Americans are constantly told by the media — and, sometimes, their own parents — that they think the world owes them a favor. Bad news for baby boomers: It may be the exact opposite.
Millennials say people should be able to pay for their own housing at 22 years of age, pay for their own car at 20.5 years of age and be responsible for their own cell phone plan at 18.5 years of age, according to a new study from personal-finance site Bankrate.com.
In all three cases, the younger cohort’s average response is about a year and a half earlier than when baby boomers feel these three landmarks of financial independence should happen.
“Millennials are often stereotyped as being entitled,” Sarah Berger, a columnist and analyst at Bankrate.com, said in a statement on the survey released Wednesday. “It’s refreshing to see that millennials really do have high expectations of gaining financial independence and getting off their parents’ payroll.”
file photo by Boyd Loving
1) Historicall (pre-07) people still hung around because home prices were going up. 2% a year in taxes does not matter as long as your house’s value is going by by 6-7% a year. Home prices are at best flat now, if not declining. The 2.5% and ever growing property tax is coming out of people’s pockets now.
2) Wall St (finance generally) was on a 30 year tear till 2007. That is the NYC area’s main driver. Accordingly, the riches drifted to places like Ridgewood. That gig is OVER. I work in the industry – trust me. That gig is done. People are lucky to hang on to their jobs, forget compensation. The replacement tech folks want to live in ‘city-like’ environments. Condo prices in NYC and surrounding towns have gone up at double-digit rates per year for 4-5 years running now. Home prices are at best flat in Ridgewood.
3) Schools are not a function of teachers, they are a function of students. Being a top school district attracts parents who are interested in education, and that is a self reinforcing dynamic. The reverse is also true – once you drop out of the top rankings, you stop attracting top students. Ridgewood is no longer a ‘top school district’ compared to places like Teaneck, Short Hills, Baskin Ridge etc.
4) Ridgewood taxes are higher (on a % of property market value basis) than even Short Hills, let alone neighborhood Bergen County towns, all with similarly rated schools. And despite paying higher taxes than everywhere else, and more than ever paid in Ridgewood’s history, you have greedy teachers striking and looking for various ways to make life difficult for students as payback. And this will only get worse once Obamacare taxes kick in and the teachers force taxpayers to pick up the 40% excise tax tab on their platinum insurance plans.
So to summarize,
1) The main supporting industry is in sharp decline
2) Home prices are no longer increasing
3) Taxes are at national highs and only likely to increase further
4) School district ranking is falling and will get worse
This combination has not existed so far. In fact, the reverse did. That was history. This is reality.
I curse the day I bought a house in the place. My kids are still too young so I am likely stuck, and am going to live through the decline. Assuming, of course, my industry even has a place for me till then.
April 8,2016
the staff of the Ridgewood blog
Ridgewood Nj, Baby Boomers and Millennials often are portrayed as two generations that don’t always see eye to eye in the workplace.
But they may share something in common that could help bridge the generation gap.
Both groups long to find a purpose in their careers beyond a paycheck, say Jackie Dryden and Bethany Andell, co-authors of “Get Your Head Out of Your Bottom Line: And Build Your Brand on Purpose” (www.savagethinking.com).
“Millennials are not only worried about how much money they earn, but also about how they earn it,” says Andell, president of Savage Brands, which works with companies to build purposeful brands.
“They gain satisfaction from their work when they feel they are contributing to something larger and more valuable than the company’s earnings.”
Baby Boomers, idealistic in their youth, somewhere along the way became part of the system they fought to change, she says.
Now, nearing retirement, many look back and wonder what kind of legacy they will leave.
“They’re reigniting their earlier desire to add meaning to life,” Andell says.
Dryden and Andell say that tapping into the two generations’ longing for meaningful work can create an improved outlook for businesses. Here are a few reasons why:
• Everything a company says and does contributes to building its brand. Because of this, the actions and attitudes of employees are central to the brand experience for the customers.
• Too many companies begin their pursuit of success by focusing on profit. Dryden and Andell say a better route to sustainable success is to flip traditional business thinking upside down and start with purpose. Purpose drives performance, they say, and performance drives profits.
• Customers feel better about buying from or working with brands they connect with in some way. When they connect with the purpose for why a company exists they begin to feel as if they are a part of something meaningful, just as the employees do. This deeper relationship adds value to every interaction customers have with the company, building loyalty for the brand.“When you have two generations – one older, one younger, but both seeking greater meaning at work – there’s an incredible opportunity,” Dryden says. “But that opportunity can only be seized if a company’s purpose and values align and connect with employees on a level beyond the bottom line.”
About Jackie Dryden
Jackie Dryden, co-author with Bethany Andell of “Get Your Head Out of Your Bottom Line” (www.savagethinking.com), is Chief Purpose Architect with Savage Brands, which works with companies to build purposeful brands. She also is author of “Just Me: What Your Child Wants You to Know About Parenting.”
About Bethany Andell
Bethany Andell, co-author with Jackie Dryden of “Get Your Head Out of Your Bottom Line,” is president of Savage Brands. She is an MBA graduate from Rice University’s Jones School of Management, a regular speaker and author of several articles recently published in the Houston Business Journal.
Published: Feb 10, 2016 7:25 a.m. ET
In the U.S. alone, there are 10,000 baby boomers retiring every day, a trend expected to continue for the next 15 years. This means that about 3.6 million Americans are retiring each year. And more Americans are retiring outside of the U.S. every year, as evidenced by almost 375,000 retirees receiving their Social Security checks overseas in 2013 (the latest data published by the Social Security Administration).
The dollar has appreciated against most foreign currencies. Thanks to this exchange rate, purchasing property overseas has become relatively reasonable and certainly much less expensive than the purchase of similar property here in the U.S. The cost of living in most overseas locations is a good deal less, which means you can maintain a better lifestyle and your savings will last longer.
In addition, although the cost and quality of health care varies substantially from country to country, there are many overseas locations that offer health care services similar to what is provided in the U.S. and usually at a great deal less.
As you research overseas locations you should select some destinations and check to see how they compare to your needs and expectations. Considerations should be:
https://www.marketwatch.com/story/why-you-should-consider-retiring-abroad-2016-02-09
Tom Anderson | @bytomanderson
The Social Security Administration projects that its trust funds will be depleted by 2033—not an optimistic forecast. But it may be even bleaker than that.
New studies from Harvard and Dartmouth researchers find that the SSA’s actuarial forecasts have been consistently overstating the financial health of the program’s trust funds since 2000.
“These biases are getting bigger and they are substantial,” said Gary King, co-author of the studies and director of Harvard’s Institute for Quantitative Social Science. “[Social Security] is going to be insolvent before everyone thinks.”
The Social Security and Medicare Trustees’ 2014 report to Congress last year found trust fund reserves for both its combined retirement and disability programs will grow until 2019. Program costs are projected to exceed income in 2020 and the trust funds will be depleted by 2033 if Congress doesn’t act. Once the trust funds are drained, annual revenues from payroll tax would be projected to cover only three-quarters of scheduled Social Security benefits through 2088.
Researchers examined forecasts published in the annual trustees’ reports from 1978, when the reports began to consistently disclose projected financial indicators, until 2013. Then, they compared the forecasts the agency made on such variables as mortality and labor force participation rates to the actual observed data. Forecasts from trustees reports from 1978 to 2000 were roughly unbiased, researchers found. In that time, the administration made overestimates and underestimates, but the forecast errors appeared to be random in their direction.
By NICK GASS
4/28/15 12:41 PM EDT
Updated 4/28/15 1:15 PM EDT
Only one-in-three Americans knows how many women serve on the Supreme Court, but 91 percent can identify Martin Luther King Jr., 47 years after his assassination.
That’s according to the latest Pew Research Center News IQ survey released Tuesday, which tests how well the American public knows the world in words, maps and pictures.
Almost all millennials surveyed — 96 percent — could pick out King from a list of names that included Malcolm X, Jesse Jackson and Thurgood Marshall. Older generations could mostly identify the slain civil-rights leader, as 89 percent of Gen Xers, Baby Boomers and the Silent Generation did.
But millennials apparently aren’t so great at identifying the current party makeup of the Senate. Only 47 percent of respondents aged 18 to 34 were able to do so, compared to 52 percent overall. Those who described themselves as more politically engaged were more likely to know the upper chamber’s composition. (For the record, Republicans hold 54 seats; Democrats 44 seats; and Independents two seats.)
Read more: https://www.politico.com/story/2015/04/pew-news-iq-test-results-117421.html#ixzz3YgbzVtQT
Home care company adds Ridgewood location
OCTOBER 23, 2014 LAST UPDATED: THURSDAY, OCTOBER 23, 2014, 1:21 AM
BY MELANIE ANZIDEI
STAFF WRITER |
THE RECORD
* Florida-based Interim
now has 8 N.J. locations
Interim HealthCare Inc., a Florida-based national network of home care, hospice and health staffing franchises, said Tuesday that it added 15 locations across the U.S. in 2014, including one in Ridgewood. It is the company’s first location in Bergen County and is expected to open at the end of this month.
The Ridgewood location is Interim’s eighth in the Garden State. The others are in Union City, Hamilton, South Plainfield, Union, Toms River, Point Pleasant and Voorhees, according to the company’s website.
The Ridgewood location will serve clients in Bergen County. Elise Merhige, president of Interim HealthCare in Ridgewood, said Wednesday there are about five employees at that location. The business plans to bring in more people in the coming weeks and is currently hiring home health aides and companions for seniors, she said.
According to Interim HealthCare President and Chief Executive Officer Kathleen Gilmartin, the company pursued this year’s expansion to meet a growing demand for home health care.
“As baby boomers age and home care is the most affordable option for senior Americans as well as people with conditions requiring ongoing medical care, the demand for quality home health care will only continue to rise,” Gilmartin said in a news release.
– See more at :https://www.northjersey.com/news/business/national-home-care-chain-adds-ridgewood-site-its-first-in-bergen-1.1115863
