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Earning more, but saving less

The good news is employee earnings have grown on average 4% on a year-over-year basis since the start of 2012; the bad news is that less and less is being saved. The two moved in concert in 2012 and 2013, but took a precipitous drop in the three years following. While consumer debt is multiple levels higher than it was pre-crisis, health-care and food expenses have also grown exponentially, with energy being the one major household expense that has fallen.

Health-care expenditures were about $2.2 trillion in 2016 – the most recent period reported by the Federal Reserve - up from $1.8 trillion in 2012.