Carleton English
Not every American is feeling the benefits of the stock market rally and re-energized GDP under President Trump.
Only 54 percent of US adults own stocks — either outright or through mutual funds and retirement accounts, according to Gallup data released in May.
That’s down from 62 percent prior to the recession.
For the 46 percent of the population that does not own stocks, the stunning 32.4 percent rise in the Dow Jones industrial average since last year’s presidential election has meant very little.
“People who depend on paychecks versus stock performance aren’t doing nearly as well,” Jared Bernstein, former chief economist to Vice President Joe Biden, told The Post.
As corporate profits have risen, giving a boost to the stock market, wages — especially for blue collar workers — have remained relatively flat, Bernstein noted.
Meanwhile, nearly everything from housing to health care has gotten more expensive, further burdening households who haven’t been able to enjoy the market’s gains.
In addition, ObamaCare insurance premiums are up 37 percent in 2018 and college tuition costs have advanced 3.6 percent, on average, making life a lot tougher for millions of Americans.
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