Thursday, May 08, 2014

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[IWS] BLS: AMERICANS' AGING AUTOS [8 May 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

Beyond The Numbers

May 2014 | Vol. 3 / No. 9

EMPLOYMENT & UNEMPLOYMENT

 

AMERICANS' AGING AUTOS [8 May 2014]

By Ryan Pfirrmann-Powell

http://www.bls.gov/opub/btn/volume-3/americans-aging-autos.htm

or

http://www.bls.gov/opub/btn/volume-3/pdf/americans-aging-autos.pdf

[full-text, 8 pages]

 

[excerpt]

From 2008 to 2012, the average age of U.S. households’ vehicles increased as owners held on to their cars, trucks, and vans longer. The trend in aging autos coincides with declines in average household income in 2008; however, subsequent recovery in households’ incomes and a return to previous levels of expenditures on vehicles in 2012 do not appear to have reversed the pattern of aging. (See chart 1.) Analysis of data from the Bureau of Labor Statistics Consumer Expenditure Survey suggests that households continued to own the same number of vehicles over the last 10 years, but are owning their vehicles longer.

 

Includes CHARTS & TABLES....

 

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