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Clothing: The Other Necessity

CLOTHING THE SARA MECESIV Historical Perspective Since 1982, apparel prices have climbed 26% while prices in general have risen 130%. In other words, after adjusting for inflation, clothing and footwear is cheaper today and therefore, it takes a smaller share of income. CPI - All Items vs. Clothing² 250 In 1901, the average U.S. household allocated 14% of total spending for apparel. By 2002-03, spending shares for clothing had decreased to 3.5%'. 200 150 No surprise here. Who spends the most on clothing? The average household spends $1,740 per year on clothing and apparel. It is probably not a great surprise to most readers that, on average, women spend more than men on clothing. Expenditures for women average $604 per year or nearly double the $324 spent by men. Footwear accounts for more than 18% of total apparel expenditures (both genders)'. 2003 2008 2012 100 1983 1993 1998 1988 I All Items 1 Clothing US Average Annual Apparel Expenditures by Age and Boys, 2 to 15, $80, 5% Men, 16 and over, $324, 19% Gender Women, 16 and over, Girls, 2 to 15, $604, 35% $117, 7% Children, Under 2, $68, 4% Footwear, $321, Other apparel products and services, $226, 13% 18% Prices have fallen, but for some, clothes are still a tight fit for the budget... Last month, we found out that a low income family of four could spend up to 31.5% of that income on food (http://ow.ly/10Rgf). Another 40%, on average, goes to housing. This adds up to a whopping 71.5% of income. By adding in 3.5% for clothing, that Try this on for size... share of income rises to 75%. Another sobering point is that these percentages do not include healthcare or transportation which, for households with the lowest 20% of income in the United States, can account for 23% of income per year - or 98% for food, clothing, housing, transportation, and healthcare. If most families spend 3.5% of income on clothing", a family of four making the 2012 poverty threshold of $23,283°, can expect to spend $815 per year FOR ALL That averages to $17 per person per month. How many clothes could FOUR FAMILY MEMBERS TOTAL. you buy for $17? This infographic is brought to you by Northern Kentucky University's Center for Economic Analysis and Development (CEAD). CEAD provides economic research services for various entities throughout the NKY/Cincinnati region. For more information about these services, other datasets, or this infographic, please visit NKYByTheNumbers.nku.edu. Data Sources: 1. 100 Years of US Consumer Spending Data for the Nation, New York City, and Boston, US Dept. of Labor, US BLS, May 2006, Report 991. 2. Bureau of Labor Statistics (BLS). 3. 2011 Consumer Expenditures Survey, US Bureau of Labor Statistics. 4.Apparel services include material for making clothes, shoes repair, alterations and patterns and notions, clothing rental, clothing storage, dry cleaning and sent-out laundry, watches, jewelry, and repairs to N http://ow.ly/kINFO http://ow.ly/klN3t f htp://ow../K.MS7 NKU CENTER FOR repairs, sewing Economic Analysis & Development watches and jewelry. 5. US Census, Poverty Thresholds OCOD ERICA 49659 C TIOC C ST TIOIC9 49659 C DDOLLARS CLOTHING THE SARA MECESIV Historical Perspective Since 1982, apparel prices have climbed 26% while prices in general have risen 130%. In other words, after adjusting for inflation, clothing and footwear is cheaper today and therefore, it takes a smaller share of income. CPI - All Items vs. Clothing² 250 In 1901, the average U.S. household allocated 14% of total spending for apparel. By 2002-03, spending shares for clothing had decreased to 3.5%'. 200 150 No surprise here. Who spends the most on clothing? The average household spends $1,740 per year on clothing and apparel. It is probably not a great surprise to most readers that, on average, women spend more than men on clothing. Expenditures for women average $604 per year or nearly double the $324 spent by men. Footwear accounts for more than 18% of total apparel expenditures (both genders)'. 2003 2008 2012 100 1983 1993 1998 1988 I All Items 1 Clothing US Average Annual Apparel Expenditures by Age and Boys, 2 to 15, $80, 5% Men, 16 and over, $324, 19% Gender Women, 16 and over, Girls, 2 to 15, $604, 35% $117, 7% Children, Under 2, $68, 4% Footwear, $321, Other apparel products and services, $226, 13% 18% Prices have fallen, but for some, clothes are still a tight fit for the budget... Last month, we found out that a low income family of four could spend up to 31.5% of that income on food (http://ow.ly/10Rgf). Another 40%, on average, goes to housing. This adds up to a whopping 71.5% of income. By adding in 3.5% for clothing, that Try this on for size... share of income rises to 75%. Another sobering point is that these percentages do not include healthcare or transportation which, for households with the lowest 20% of income in the United States, can account for 23% of income per year - or 98% for food, clothing, housing, transportation, and healthcare. If most families spend 3.5% of income on clothing", a family of four making the 2012 poverty threshold of $23,283°, can expect to spend $815 per year FOR ALL That averages to $17 per person per month. How many clothes could FOUR FAMILY MEMBERS TOTAL. you buy for $17? This infographic is brought to you by Northern Kentucky University's Center for Economic Analysis and Development (CEAD). CEAD provides economic research services for various entities throughout the NKY/Cincinnati region. For more information about these services, other datasets, or this infographic, please visit NKYByTheNumbers.nku.edu. Data Sources: 1. 100 Years of US Consumer Spending Data for the Nation, New York City, and Boston, US Dept. of Labor, US BLS, May 2006, Report 991. 2. Bureau of Labor Statistics (BLS). 3. 2011 Consumer Expenditures Survey, US Bureau of Labor Statistics. 4.Apparel services include material for making clothes, shoes repair, alterations and patterns and notions, clothing rental, clothing storage, dry cleaning and sent-out laundry, watches, jewelry, and repairs to N http://ow.ly/kINFO http://ow.ly/klN3t f htp://ow../K.MS7 NKU CENTER FOR repairs, sewing Economic Analysis & Development watches and jewelry. 5. US Census, Poverty Thresholds OCOD ERICA 49659 C TIOC C ST TIOIC9 49659 C DDOLLARS

Clothing: The Other Necessity

shared by tincan2006 on May 25
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While clothing prices have fallen dramatically in real terms, families can still find it a struggle to fit clothing in the family budget.

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