It is Valentine's Day in the USA, the day people celebrate love and romantic connections. But a recent report says that the number of Americans engaging in long-term relationships seems to be dropping.
According to a report by CNN, the number of Americans living together with a partner is going down. It cited a 2021 Pew Research Center study of 2019 US Census Bureau data that shows some 62% of people ages 25 to 54 lived with a partner or were married. The figure included married people 53% married and cohabiting at 9%.
The numbers are way below the 1990 stats wherein 71% of people in the USA were living together, 67% were married, and 4% cohabiting.
The current numbers could also imply that people with higher education and higher wages are the ones most likely to get married or live with a partner. The Pew research said that many people choose not to get married if they do not think it is financially feasible.
Compared to the 1990 baseline, current numbers have also seen a bigger jump in unmarried men living alone (10 points) than women (7 points).
Many Will Not Take Risks of Marriage
According to a separate study, people are less likely to say "I do" with a high risk of failure, which probably also explains the dropping in the number of Americans getting married.
A study of the CDC/NCHS National Vital Statistics System implies that the rate of divorces and annulments was at its rock bottom point in this century in 2019.
It indicated that there were 2.7 divorces and annulments per 1,000 people in the population, which is lower than four divorces per 1,000 people in 2000.
Hence, it's no surprise that the divorce rate among young adults has plummeted. Those who enter into marriage appear to be doing a better job of choosing a union with a good chance to last than those who do not.
Shift in Perspective
This Valentine's Day, one Harvard economics professor advised people to shift their perspective on marriage.
"Get married, but always assume you'll get divorced," said Prof. Laurence J. Kotlikoff, the author of "Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life,"
In his article in CNBC, he noted that marriage could help one's standard of living in the long run. If one is awarded alimony in a divorce, long-term quality of living may improve, but to a limited and unknown extent.
Prof. Kotlikoff cited data from Wilkinson & Finkbeiner, a law firm based in California that indicate some 60% of second marriages "go south," and the "73% of third marriages will start with "forever" and end with "sayonara."
Yet, he further explained, people get married due to what economists call "irrational expectations." The phenomenon is when "people collectively believe in something they know is collectively false."
This wishful thinking about marriage, on the other hand, comes at a price. Children are pressured to pick sides, and family bonds hopelessly shattered when marriages end in a costly divorce war.
Prof. Kotlikoff's Valentine's Day message is something to ponder on. He said people should change their perception of marriage "from a lifetime partnership to a temporary arrangement." Something must be celebrated for going on "as long as it does" instead of feeling pity that the relationship had fallen apart.
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