WASHINGTON (Pakistan Point News / Sputnik - 24th May, 2023) The number of Americans who have money invested in the stock market has exceeded 60% for the first time since 2008, a new Gallup poll showed on Wednesday.
"Sixty-one percent of U.S. adults say they have money invested in the stock market, the highest percentage Gallup has measured since 2008. Stock ownership fell during the Great Recession and stayed depressed for more than a decade, including lows of 52% in 2013 and 2016," the pollster said.
Most Gallup surveys prior to 2008 found 60% or more of US adults owning stock, it added.
The lowest share of those owning stock (52%) was recorded in 2013 and in 2016. In 2020 and in 2021, when the global pandemic caused lockdowns, 55% and 56% of Americans had money invested in the stock market, according to the report.
The survey showed that stock ownership rates among key demographic groups are essentially back to where they were in 2008.
"One notable exception is among older Americans. U.S. adults aged 65 and older today (63%) are more likely than senior citizens prior to the Great Recession (2001 through 2007) to own stock (53%). This is due to higher stock ownership rates among the baby boomer generation than older generations, and baby boomers have continued to hold stock as they aged into the 65-and-older group," the poll said.
Since 2001, more than six in 10 baby boomers have held stock, while ownership among the older generation has been about 50%, it added.
The poll also showed that the ownership of stock directly depends on the level of income.� Eighty-four percent of wealthy Americans with an annual household income of over $100,000 said they are investing in stocks. However, only 24% of those who make up to $30,000 per year own stock.
The poll was conducted from April 3-25 among 1,013 adults living in all 50 US states and the District of Columbia.
