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Show | HOW DID YOU DOP/continued family less than 25 weeks of wages to pay for car—thesameas in 1980. Consumersand busi nesses savedan estimated $18 billion on gasoline and heating oil, freeing up money to pay for goods andser vices that cost more, like cosmetics, tobacco, hotel rooms, car rentals, school tuitions and auto maintenance, Srv Il business owners were so upbeat about profits that 74% y felt entitledto take a sum ation in 1998, up from 63% in 1997. Andna tionwide the number of beginning golfers rose 51% Increasingly, we're spendingto enhance our leisure time. Symphonies, operaandtheat r companies are flourishing. Ni rly 27 million Ar ricans attended live performances during the 1997-98 season—60% of them outside New YorkCity pullingin a record $1.3 billion in ticket sales, In thelast five years, we've and onacupuncture, psychotherapy andchiropractic care womeneamedamedian cash compensationof $5 only 68% of the men’s $765,000 median “I think there’s a real need for people to becomeless Other sobering statistics: Though mostfamilies stressed,”says Robin Shade, 45, who er off than in 1990, median household income as a massage therapist in Fairfax, Va., last Someworkers hada gr offer to new comput -scienc graduates was $40,843. archanalysts (pro upfrom$35,784in 1997. Onli fessiona | Websurfers) did even better: Their base pay rosean aye! e of 25.1%, to $56,000, Andthe lawyers, who represented Florida, Mississippi and Texas in their suits aj air the tobacco industry were awarded $8.2 billion in fees—thebig | payday in L S. history Medianincome(ha wages for Americans was $ up from $503 a week, or S earned only 76' spent more on books, on boats andpleasureaircraft ore, half less) from week, or $27,1961997. Women still $456 vs. $598 of what men made ap was even b he nation’s highest-paidexecutives, Dance to the Music! inflation, mid-wage eamers haven't gainedineig! The 1997 poverty rate (the most recent availab at its lowest since 1990 but still higher thanin t 70s. Andalthoughthe federal deficit is gone. ual Americans are deeper indebt thanever: The household debt to after-tax income is about 8 fror 1 59% in 1984. By one estimate, 5% of the ids havefiled for bankruptcy inthelas xck market rose almost 27% fortheye the mid-year market plungetook a toll on financiz panies, as did mergerslike that of Citicorpan ers Group, Thenew Citigroupsaid it would jobs. Chase Manhattan announced 4500 layoffs, an Mt mmmaammpesass rill Lynchani 3400. Exect Employment fauss eran 4 Wall (600-862-2763). satisfied with thestate of the economy, up fre in mid-1997, Remarkably the optimism cu ‘ economic groups, including 70% of those ear than $20,000 a year and 91% of those earni than $100,000. Thre: out of four responde: ed with their personal financial ) to one margin, they expected neration to enjoy a higher standard PARADE found the sameupbeat outlook le we surveyed, like James Pow de $50,000 as president of his own W nitorial supply company; Pe 39, who earned $38,000 as a self-employe artist in North Conway, N.H ter still. rol <«< » E said they were doing better financiall parents did at the und expect their ki “They have more obstacles to face Blotner, 49, of Jackson, N.H., who 860 as a high school principal, “but { ha far their intelligence, creativity and resil ichieve their financial goals. Lyn 7 yes Pest. Aiga Mees sd haces ey. Baby eines cot eae = ere etd a Senroreat eat eee tT Seer et ey Mere and Linda who made $40,000 managing her own pet Rockvill Md. Like most of those wesf they New to home video - A reunion of past cast membersin a 27 Xe)aisMe4(dele-](ean Stre ning 80% of Americanstold anational survey th Or call 1-800-TO-BARNEY ro be edfor inflation,hasn’t reached the record 1989 in the U.S. was the andtheaver nior stock fu highest on record: ager tookap eaming $158 64.1% of working-age year, dows in Americanshad jobs. $176,100 But neithe Paradoxically, 1998 market gyrat impeachme also saw the decade's ceedings coul public confide worstlayoffs. theyear ended, Celebrate, Now available at a. store near you. avera anew Brenner is financial columnist for “N os a es PAGE 6. FEBRUARY 14, 1999 PARADE MA\ |
