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Americans earning more, saving less
August 5, 1998
Web posted at: 1:36 p.m. EDT (1736 GMT)
LOS ANGELES (CNN) -- In the 1930s, jobs were scarce, money
was tight and savings were non-existent.
But in the 90s, people do have jobs, they do have money --
but they still don't have much in the way of savings.
Government figures show the personal savings rate was just
.02 percent for the month of June and an abysmal 2.1 percent
for all of 1997, representing the worst personal savings rate
since the Great Depression.
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Is America saving? CNN's Anne McDermott has the story
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