Mexican Imports Are Actually US-based
The managing editor at the Financial Times has released a video online that sums up the US economy in three numbers. The first number or statistic is 40%. This statistic demonstrates that almost all supposed Mexican imports actually begin in the United States. During the manufacturing process, for instance, a vehicle part can cross between the US and Mexico as many as 8 times. However, the ping-pong journey begins in the US.
The Number of People Currently Self-employed
The second number on the video is 53 million. That is the number of people in the US who are self-employed. If you cannot fathom this number in terms of population, it roughly can be equated to the population in South Africa. The Times reports that the number is projected to rise, thanks to what is being termed as a “gig” economy. Part of this economy are made up of the people who drive for Uber.
Millennials Strongly Support Solopreneurship
In fact, according to a recent article in Forbes, the Millennials are “Generation Gig.” According to the report nearly 80% of Millennials are interested in dropping out of the full-time workforce in order to work freelance. The other 20%, one must assume, are already working on their own. Reports further indicate that eight out of 10 solopreneurs state they are satisfied with their work. It is clear there is a massive upswing in entrepreneurship that is not slowing down.
The last number on the video is 12 trillion. That is the amount, in US dollars, that will be inherited by the children and grandchildren of people born in the 1920’s and 1930. This amount is expected to be allocated during the next ten years. The number has also been established as the largest transfer of weather ever – an amount that is 152 times the wealth of computer entrepreneur and developer Bill Gates.
When you view these numbers, you can make your interpretation of what they mean for the future US economy. This is one of those financial areas that make you stop and contemplate about how the future generation will work and spend and save what they inherit and make.