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By Mia | 20 September 2019 | 0 Comments

50% of Americans are single

The US Business Weekly published an article in the October 20 issue of "Single America" ​​to talk about the changes and current situation of the US population:
According to the latest figures from the US Census Bureau, the proportion of American married couples has fallen from nearly 80% in the 1950s to 50.7% today. This means that 86 million single adults in the United States will soon become the new majority. They now account for 42% of the workforce, 40% of homebuyers, 35% of voters, and are also the most purchasing power consumer. Compared with the past, Americans get older, have more cohabitants, increase gay families, and reduce remarriage after marriage breaks.
    What was once considered by many to be non-mainstream is now a normal phenomenon. The family of wage earned fathers and mothers who are housewives now account for only one tenth of all households. The Census Bureau said that a century ago, almost every household was a couple of children plus children. The total number of such families has now been reduced to 25%, and it is estimated that it will drop to 20% in 2010. By then, nearly 30% of homes will be single people living alone.
After the general non-marriage of Americans, corporate CEOs, American politicians and judges will have to work hard to redesign welfare, determine tax systems, and adjust retirement plans to better adapt to this demographic change. More than 40% of the top 500 companies in the US business community have begun to revise their policy of favoring marriage and re-examine everything from a spouse's medical insurance subsidy to a family Christmas party. Companies like Merrill Lynch and Bank of America have begun implementing “expanding family welfare” to accommodate this change. At Xerox, employees enter the company and receive 10,000 yuan in addition to standard welfare. This money can be used for any plan they choose, rather than being mandatory for the family. At Wanquan Securities, employees can receive medical subsidies for heterosexual or same-sex partners who live with them, as long as they live together for at least six months. It is clear that all these changes may lead to a system that is closer to the European system by decoupling marital status from eligibility for social welfare. There is already a proposal awaiting consideration by Congress, which will exempt the family members and family partners from the welfare subsidy tax, and another proposal will require the federal government to provide medical subsidies to family partners.

The decline in the marriage rate and the lower fertility rate raise questions about whether older people with reduced numbers can meet the increasing retirement and health needs of older people. Can the United States develop enough literate workers to provide the labor market with the skills needed to maintain high productivity? Will the power of ethnic minority and immigrant groups (whose fertility tends to be higher) expand? The answers to these questions will influence social policy and force companies to reflect on their human capital strategies, product mix and marketing missions.

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