🤑 Di American People Pocket Don Fat Pass B4 Durin’ Pandemic Time!
⬇️ Pidgin ⬇️ ⬇️ Black American Slang ⬇️ English
For dis tori wey just land so, e be like say di pandemic time no just dey bad for everybody. American people don chop beta win as dem pocket just swell up well-well between 2019 and 2022. Wetin we dey hear from Federal Reserve data na say stock price rise, house price jump up, and government jus dey dash people money for dis whole coro wahala period. People pocket don dey jolly-jolly!
If you check well, within dis three years time, median net worth just waka go up by 37 percent after dem don check out di wahala wey inflation dey cause. 📈🏠 Na di biggest jump wey record don see since way back 1989 sef! As dis one dey happen, family money wey dey middle (median family income) just add small 3 percent on top from 2018 to 2021 if you comot di wahala price dey add.
Omo, even though na di big men and women feel am pass, no be lie say almost every American enjoy better financial level up inside these three years wey coro dey. Dem save plenty money, credit card debt reduce, retirement savings just fat up. 💰📉
Different data from government and oda sources been hint say things dey go better. But dis Federal Reserve report na di ogbonge one wey everybody dey wait for every three years. E dey show everything from savings to who dey own stock, and dem dey check am for different kind people, both young, old, rich, poor and all kind race. 🧮🔍
Dis na di first time wey dem dey drop dis kind report since coro virus enter, so e dey show how families waka through di gbege economic times. Plenty people no see work early 2020, but government come dey try cool down di tension with plenty relief packages. 💼🚫
Nowadays, work plenty for ground, with unemployment just low and salary dey increase. But inflation come dey chop small-small from all these gains by increasing di price of everyday things. 🍞💸
If dem no adjust for inflation, dat median income for don go up by 20 percent based on di report dem just drop.
Omo, if you look wella, di financial level up especially for di ones wey no get plenty money na correct something. If you compare am with wetin happen after di last recession wey be from 2007 to 2009. Dat time, e take years before family money fit rise up again, but for some families e no ever rise self. Money increase for all sides between 2019 and 2022, but na di top side feel am pass – so di gap between rich and poor come wide pass b4. 💸↔️
Dis kain thing make big difference between di money wey dey di middle (median income) and di average money. If you gather all di earnings come divide am by number of households, average income increase by 15 percent, one of the largest in three years.
The rich people own, na dem get plenty financial assets for America. So, anytime stock, bond and house price dey increase, na dem dey enjoy pass. True to dat, wealth increase plenty in terms of dollars for rich families. 📈💲
But for di three years wey dis survey cover, growth in wealth na im big pass for di ones wey no get money. People wey dey bottom side get net worth of $3,500 for 2022, and e rise from $400 for 2019. Families wey dey top 10 percent, dem median net worth rise reach $3.79 million from $3.01 million for di past three years. 💰📊
Because of how dem dey measure di data, e hard to know how much all di coro-related payments matter. But if families save di one-time check and oda help wey dem get, dem go add am inside di measures of net worth.
E be like say some Americans come dey use dis chance to buy stock for di first time. 21 percent of families own stocks directly for 2022, and e rise from 15 percent for 2019, na di biggest change record don see. 📈🤑
This new data from Federal Reserve show say big gap dey between income and wealth across races, but Black and Hispanic families see di biggest gain during this period. Black families median net worth rise 60 percent to $44,900, e big pass 31 percent increase for white families wey raise their wealth to $285,000. Hispanic families own increase by 47 percent. 📊✊🏿
But same time, Black and Hispanic households income no grow as expected. Dem see small drop in money after you consider inflation, while white families see small increase. For di first time, report show data for Asian families, and dem get di highest median net worth for any race group.
Even though di data no be from now, e show say American families dey strong as dem commot from di pandemic. Dem get plenty money and income dey rise, and dis one dey help people to dey spend more for 2023. E dey help economy grow wella, even as Federal Reserve dey increase interest rate to calm things down.
Everybody dey hope say with all these strong moves, Federal Reserve fit make di economy cool down gently without pressing consumers so hard to send America into another recession. 🙏📈🔥
NOW IN BLACK AMERICAN SLANG
Americans’ Pockets Got Fatter During the Pandemic! 🤑
Aight, so here’s the deal. Even though the pandemic threw some curveballs, folks still found ways to stack that paper. Between 2019 and 2022, folks in the U.S. saw their money grow, and it wasn’t just a lil’ bit. Federal Reserve dropped some numbers saying that stocks going up, house prices getting right, and the government giving out that assistance made sure people’s pockets were right and tight.
Now, over those three years, folks’ median net worth shot up by 37 percent, and that’s after you break down the inflation and all. 📈🏠 We talkin’ biggest growth since they started keeping track in ’89! And hey, families didn’t just stop there. Between 2018 to 2021, the typical family bread went up 3 percent after you take away inflation.
It’s clear as day, though: while the big ballers had their cake, pretty much everyone was eating better during those times. Folks’ savings accounts were looking real nice, credit card drama was low, and them retirement bags? On the rise. 💰📉
Different sets of numbers been hinting at this glow-up, but when the Federal Reserve drops their report every three years? That’s the real talk right there. 🧮🔍 This report gives the full scope, from how much folks save to who’s got shares in companies, and it breaks it down by age, race, and how heavy their pockets are.
This report dropped and shed light on how we all moved during the pandemic’s wild ride. In 2020, mad folks faced tough times, lost jobs and whatnot. But the government stepped in, dropping those relief packages to help the people out. 💼🚫
Fast forward, the job scene’s looking lit, unemployment’s on the low, and wages are coming up. Only twist? Prices of everyday stuff went up, inflation and all that. 🍞💸
Without inflation in the mix, the typical family money would have risen a good 20 percent. That’s what the report was saying.
Compared to the last big financial mess from 2007-2009? This recent growth is a whole mood. Back then, it took mad long for some households to get their paper right again, and some never got back on track. 💸↔️
Now, there’s still that divide in how much folks make. Some numbers showed that the average bread folks brought home jumped 15 percent, which is one of the fattest increases they ever recorded.
And here’s some real talk about wealth. The rich folks in the U.S. have mad assets, so when stocks, bonds, and homes go up in price, their wealth just skyrockets. 📈💲 But these past three years? The folks who weren’t ballin’ out before saw the biggest percentage jumps. In 2022, the people at the bottom went from having $400 in 2019 to stacking $3,500. Meanwhile, the top dogs saw their median net worth go up to $3.79 million, a rise from $3.01 million.
Breaking down how those pandemic checks played into these numbers ain’t simple. But it seems like folks saved up those government checks, which added to their net worth.
And get this, more folks started investing in the stock market. By 2022, 21% of households had their hands in stocks, which is a jump from the 15% in 2019. 📈🤑
But real talk, even with all this, there are still gaps in money and wealth across races. Black and Hispanic families, though, they saw their net worth shoot up the most during the pandemic. Black families saw their money go up by 60 percent, hitting $44,900. That’s more than the 31 percent white families saw, which had them at $285,000. Hispanic families had a 47 percent increase. 📊✊🏿
Even then, Black and Hispanic folks didn’t see their earnings go up as much through 2021. After adjusting for inflation, their earnings were a little shaky, while white families had a slight increase.
The report also dropped some info about Asian families, and their money was looking the most solid of any racial or ethnic group.
Now, even though these numbers ain’t brand new, it’s clear: as the pandemic was wrapping up, folks were in a solid spot. Their money was right, and they kept that spending energy in 2023, keeping things moving even with the Federal Reserve tweaking those interest rates.
All this good news has folks hoping the economy can slow down just a bit, without squeezing everyone so hard that we dive into another recession. 🙏📈🔥
NOW IN ENGLISH
🤑 Americans’ Wealth Soars During the Pandemic!
In recent news, it seems the pandemic hasn’t been all doom and gloom for everyone. Americans experienced a significant increase in their wealth from 2019 to 2022. The Federal Reserve data points out that rising stock prices, surging home values, and various government incentives during the COVID-19 crisis have all played a part in enhancing the financial well-being of the populace.
Within this three-year span, the median net worth escalated by an impressive 37 percent after accounting for inflation. 📈🏠 This figure marks the most significant spike since records began in 1989! Concurrently, there’s been a modest 3 percent increase in median family income from 2018 to 2021, even after accounting for inflation.
It’s evident that while the rich have benefitted more, the majority of Americans experienced some financial progression during these three years. Savings were up, credit card debts dwindled, and retirement accounts flourished. 💰📉
Various datasets, both from government and other sources, have hinted at these gains. Yet, the Federal Reserve report, issued triennially, remains the benchmark in terms of financial insights. 🧮🔍 It delivers a thorough analysis, spanning from savings rates to stock ownership, segmented by age, race, and wealth categories.
This edition of the report is especially noteworthy as it’s the first since the pandemic’s onset. It paints a vivid picture of how families navigated during such a turbulent economic era. A considerable number faced unemployment in early 2020, prompting the government to release multiple relief packages. 💼🚫
Lately, the job market has shown promising signs, marked by low unemployment rates and a rise in wages. Yet, surging inflation has slightly dampened these achievements by upping the cost of daily necessities. 🍞💸
Interestingly, if inflation wasn’t factored in, the median income would have witnessed a whopping 20 percent surge, as per the latest report.
This period’s financial advancements, especially among the less affluent, is noteworthy, especially when juxtaposed against the aftermath of the 2007-2009 recession. During that downturn, many households took years to recoup their financial status, with some never fully recovering. 💸↔️
These recent developments have also shed light on income disparities. For instance, the rise in average income, which is the aggregate earnings divided by households, was 15 percent — one of the most substantial three-year surges on record.
While the wealthy in America possess a significant chunk of financial assets, it’s evident that the wealth gap enlarges when stock, bond, and home prices surge. 📈💲 But in this survey’s three-year period, the most substantial growth in wealth was seen among the less affluent. Their net worth in 2022 was $3,500, a leap from $400 in 2019. On the flip side, the top 10 percent households saw their median net worth soar to $3.79 million, up from $3.01 million just three years prior. 💰📊
Breaking down the impact of pandemic-related payments on these figures is a tad challenging. But, it’s assumed that one-time checks and other pandemic aids were factored into the net worth metrics.
Furthermore, the report indicates that an increasing number of Americans have ventured into the stock market for the first time. By 2022, 21 percent of households owned stocks, a rise from 15 percent in 2019. 📈🤑
A key takeaway from the Fed’s recent release is the persistent income and wealth disparities across racial groups. However, during the pandemic, Black and Hispanic families reported the most substantial percentage increase in net worth. For Black families, the median net worth soared by 60 percent, reaching $44,900, outpacing the 31 percent gain seen by white families, taking their wealth to $285,000. Hispanic families reported a 47 percent surge in their net worth. 📊✊🏿
However, it’s also crucial to note that Black and Hispanic households didn’t see their incomes rise at the same pace through 2021. After adjusting for inflation, their earnings slightly dipped, whereas white families saw a slight bump.
The report’s findings, albeit not current, do emphasize the robust financial position Americans found themselves in post-pandemic. Their substantial net worth and escalating incomes ensured continued expenditure into 2023, sustaining the economy’s growth even amidst the Federal Reserve’s interest rate hikes.
These positive trends have ignited hopes of a gentle economic deceleration, avoiding a scenario where pressures on consumers could potentially plunge America into another recession. 🙏📈🔥
