Datastream
Visualizing U.S. Household Debt, by Generation
Introducing our new index, which ranks U.S. generations on their economic, political, and cultural influence.
The Briefing
- Generation X is the most indebted generation on average, with $140,643 of household debt
- Younger generations are witnessing their debts growing at a greater pace relative to older Americans
Visualizing U.S. Household Debt, by Generation
The year 2020 could be categorized as one where debt grew across the board. In the U.S., every generation except the Silent Generation saw their debts rise in the last year.
But how much debt does each generational household owe?
| Generation | 2019 | 2020 | Growth (%) |
|---|---|---|---|
| Generation Z (18-24) | $9,593 | $16,043 | 67.2% |
| Millennials (25-40) | $78,396 | $87,448 | 11.5% |
| Generation X (41-56) | $135,841 | $140,643 | 3.5% |
| Baby Boomers (57-75) | $96,984 | $97,290 | 0.3% |
| Silent Generation (76+) | $43,255 | $41,281 | -4.6% |
Gen X are the most indebted Americans followed by the Baby Boomers. The breakdown of debt by age group suggests the typical Americanโs debts grow with adulthood to a certain age, at which point it begins to taper off.
Download the Generational Power Report (.pdf)
Digging Deeper
The types of debt vary in significance for each generation. For instance, the leading source of debt for Gen Z and Millennials are student loans (20%) and credit card bills (25%), respectively. Mortgages on the other hand, are the leading source of debt for Gen X (30%) and Baby Boomers (28%).
Collectively, American households have a debt pile of $14.5 trillion, with mortgages representing the majority, at 70%.
Hereโs how home mortgages by generation breaks down.
| Generation | Portion of Mortgage Debt |
|---|---|
| Silent Generation | 4.8% |
| Baby Boomers | 29.0% |
| Generation X | 42.0% |
| Millennials | 24.2% |
| Generation Z | - |
Given mortgages represent the largest slice and that Gen X is the most indebted household, it stands to reason that at 42%, Gen X carries the most mortgage debt out of any generation.
Editor’s note: It should be mentioned that the Federal Reserve is yet to include Gen Z in some of their data.
Zooming Out
Though debts are rising for most U.S. households, they still pale in comparison to other countries. Here’s how household U.S. debt ranks on the international stage.
| Country / Territory | Household Debt to GDP (September 2020) |
|---|---|
| ๐จ๐ญ Switzerland | 131% |
| ๐ฆ๐บ Australia | 122% |
| ๐ณ๐ด Norway | 112% |
| ๐ฉ๐ฐ Denmark | 112% |
| ๐จ๐ฆ Canada | 110% |
| ๐ณ๐ฑ Netherlands | 104% |
| ๐ฐ๐ท South Korea | 101% |
| ๐ณ๐ฟ New Zealand | 95% |
| ๐ธ๐ช Sweden | 93% |
| ๐ฌ๐ง United Kingdom | 89% |
| ๐ญ๐ฐ Hong Kong SAR | 88% |
| ๐บ๐ธ U.S. | 78% |
The U.S. ranks 12th in global household debt to GDP rankings.
In addition to being the largest economy by GDP, America’s GDP per capita remains one of the highest out of major countries, suggesting these high debts by generation are in part offset by high incomes.
Looking Ahead
Increasing debts have been manageable due to a low interest rate environment. This has persisted for well over a decade, and is expected to remain the case for the near future.
Whether this can hold steady in the long run is still largely unknown.
Where does this data come from?
Source: Federal Reserve, Experian
Notes: Household debt to GDP data is as of September 2020
Datastream
Visualizing Companies with the Most Patents Granted in 2021
Companies around the world invest billions in R&D to provide cutting-edge innovation to their products and services.
The Briefing
- In 2021, the U.S. Patent and Trademark Office (USPTO) granted a total of 327,798 utility patents
- For almost three decades, IBM has been granted more patents each year than any other U.S. company
Visualizing Companies with the Most Patents Granted in 2021
Companies around the world invest billions in R&D to provide cutting-edge innovation to their products and services. In order to protect these investments, companies apply for patents. Therefore, the number of utility patents a company is granted can be considered a rough measure of its level of innovation.
Every year, the Patent 300 List identifies Americaโs most innovative companies within the intellectual property space by analyzing the patents granted by the United States Patent and Trademark Office (USPTO).
In 2021, the USPTO granted a total of 327,798 utility patents, down 7% from the previous year. Letโs take a look at which companies generated the most patents in 2021.
| Rank | Country | Company/Organization | 2021 Patents | Change from 2020 |
|---|---|---|---|---|
| 1 | ๐บ๐ธ U.S. | International Business Machines Corporation | 8,540 | -9% |
| 2 | ๐ฐ๐ท South Korea | Samsung Electronics Co., Ltd. | 8,517 | 0% |
| 3 | ๐ฐ๐ท South Korea | Lg Corporation | 4,388 | -13% |
| 4 | ๐ฏ๐ต Japan | Canon K.K. | 3,400 | -8% |
| 5 | ๐จ๐ณ China | Huawei Technologies Co., Ltd. | 2,955 | -7% |
| 6 | ๐บ๐ธ U.S. | Intel Corporation | 2,835 | -14% |
| 7 | ๐น๐ผ Taiwan | Taiwan Semiconductor Mfg. Co. Ltd. | 2,807 | -3% |
| 8 | ๐ฏ๐ต Japan | Toyota Jidosha K.K. | 2,753 | -2% |
| 9 | ๐บ๐ธ U.S. | Raytheon Technologies Corporation | 2,694 | -16% |
| 10 | ๐ฏ๐ต Japan | Sony Corporation | 2,624 | -9% |
For 29 consecutive years, IBM has led U.S. companies in the number of patents received annually. In 2021, the company received 8,540 patents, a 9% decline from the previous year.
IBMโs innovations are focused on solving major global challenges, and cover areas such as sustainable growth, climate change, and preventing future pandemics, as well as initiatives enabling food and energy security. They aim to address these problems through a blend of high-performance computing, artificial intelligence (AI), and quantum computing.
One of IBMโs most noteworthy innovations in 2021 was their new quantum processor called Eagle, which broke the 100-qubit barrier to bring quantum computing into a new era. This processor has the ability to solve problems that classical computers canโt, giving it the potential to bring real-world benefits to different fields from renewable energy to finance and more.
Samsung: A Close Second Innovator
Samsung Electronics is one of the biggest innovators over the last decade. In 2021, the company got 8,517 patents granted by the USPTO, a close second to IBM.
The companyโs patent-winning innovations take place in several areas, including virtual and augmented reality (VR/AR), artificial intelligence and machine learning (AI/ML), 5G technologies, and autonomous driving.
The Technology Sector Dominates Utility Patents
Unsurprisingly, out of the top 25 companies with the most patents granted in 2021, 16 of them belong to the technology sector.
However, utility patents are not only limited to tech companies.
In fact, companies from all sectors apply for patents every year. Patents are great assets for companies since they give them exclusive commercial rights for their inventions and protect them from competition. This is one of the main reasons we see companies getting thousands of new patents every year.
Source: The Patent 300ยฎ, developed by Harrity Patent Analytics
Datastream
Russia Has Been Suspended From the UN Human Rights Council
Here’s how the global community voted on the resolution: In favor – 93 | Abstained – 58 | Against – 24
The Briefing
- 93 countries voted in favor of suspending Russia from the UN’s Human Rights Council, including all NATO member countries
- 24 countries voted against the resolution, including; China, Iran, and North Korea
Russia Has Been Suspended From the UN Human Rights Council
On April 7, 2022, the United Nations suspended Russia from its seat on the Human Rights Council.
This suspension comes amid growing condemnation of Russia over alleged civilian murders committed by Russian troops in Ukraine. Widely distributed videos appear to show the bodies of civilians scattered along the streets in the Ukrainian town of Bucha.
To be approved, the resolution required a two-thirds majority of assembly members that vote โyesโ or โno”. Here is a complete list of how countries voted:
| Country | Vote | NATO Member | Former Soviet Union |
|---|---|---|---|
| ๐ฆ๐ฉ Andorra | In favor | ||
| ๐ฆ๐ซ Afghanistan | -- | ||
| ๐ฆ๐ฌ Antigua and Barbuda | In favor | ||
| ๐ฆ๐ฑ Albania | In favor | ||
| ๐ฆ๐ฒ Armenia | -- | ||
| ๐ฆ๐ด Angola | Abstained | ||
| ๐ฆ๐ท Argentina | In favor | ||
| ๐ฆ๐น Austria | In favor | ||
| ๐ฆ๐บ Australia | In favor | ||
| ๐ฆ๐ฟ Azerbaijan | -- | ||
| ๐ง๐ง Barbados | Abstained | ||
| ๐ง๐ฉ Bangladesh | Abstained | ||
| ๐ง๐ช Belgium | In favor | ||
| ๐ง๐ซ Burkina Faso | -- | ||
| ๐ง๐ฌ Bulgaria | In favor | ||
| ๐ง๐ญ Bahrain | Abstained | ||
| ๐ง๐ฎ Burundi | Against | ||
| ๐ง๐ฏ Benin | -- | ||
| ๐ง๐ณ Brunei Darussalam | Abstained | ||
| ๐ง๐ด Bolivia | Against | ||
| ๐ง๐ท Brazil | Abstained | ||
| ๐ง๐ธ Bahamas | In favor | ||
| ๐ง๐น Bhutan | Abstained | ||
| ๐ง๐ผ Botswana | Abstained | ||
| ๐ง๐พ Belarus | Against | ||
| ๐ง๐ฟ Belize | Abstained | ||
| ๐จ๐ฆ Canada | In favor | ||
| ๐จ๐ฉ Dem. Republic of the Congo | In favor | ||
| ๐จ๐ซ Central African Republic | Against | ||
| ๐จ๐ฌ Republic of the Congo | Against | ||
| ๐จ๐ญ Switzerland | In favor | ||
| ๐จ๐ฎ Cรดte dโIvoire | In favor | ||
| ๐จ๐ฑ Chile | In favor | ||
| ๐จ๐ฒ Cameroon | Abstained | ||
| ๐จ๐ณ China | Against | ||
| ๐จ๐ด Colombia | In favor | ||
| ๐จ๐ท Costa Rica | In favor | ||
| ๐จ๐บ Cuba | Against | ||
| ๐จ๐ป Cabo Verde | Abstained | ||
| ๐จ๐พ Cyprus | In favor | ||
| ๐จ๐ฟ Czech Republic | In favor | ||
| ๐ฉ๐ช Germany | In favor | ||
| ๐ฉ๐ฏ Djibouti | -- | ||
| ๐ฉ๐ฐ Denmark | In favor | ||
| ๐ฉ๐ฒ Dominica | In favor | ||
| ๐ฉ๐ด Dominican Republic | In favor | ||
| ๐ฉ๐ฟ Algeria | Against | ||
| ๐ช๐จ Ecuador | In favor | ||
| ๐ช๐ช Estonia | In favor | ||
| ๐ช๐ฌ Egypt | Abstained | ||
| ๐ช๐ท Eritrea | Against | ||
| ๐ช๐ธ Spain | In favor | ||
| ๐ช๐น Ethiopia | Against | ||
| ๐ซ๐ฎ Finland | In favor | ||
| ๐ซ๐ฏ Fiji | In favor | ||
| ๐ซ๐ฒ Micronesia | In favor | ||
| ๐ซ๐ท France | In favor | ||
| ๐ฌ๐ฆ Gabon | Against | ||
| ๐ฌ๐ฉ Grenada | In favor | ||
| ๐ฌ๐ช Georgia | In favor | ||
| ๐ฌ๐ญ Ghana | Abstained | ||
| ๐ฌ๐ฒ Gambia | Abstained | ||
| ๐ฌ๐ณ Guinea | -- | ||
| ๐ฌ๐ถ Equatorial Guinea | -- | ||
| ๐ฌ๐ท Greece | In favor | ||
| ๐ฌ๐น Guatemala | In favor | ||
| ๐ฌ๐ผ Guinea-Bissau | Abstained | ||
| ๐ฌ๐พ Guyana | Abstained | ||
| ๐ญ๐ณ Honduras | In favor | ||
| ๐ญ๐ท Croatia | In favor | ||
| ๐ญ๐น Haiti | In favor | ||
| ๐ญ๐บ Hungary | In favor | ||
| ๐ฎ๐ฉ Indonesia | Abstained | ||
| ๐ฎ๐ช Ireland | In favor | ||
| ๐ฎ๐ฑ Israel | In favor | ||
| ๐ฎ๐ณ India | Abstained | ||
| ๐ฎ๐ถ Iraq | Abstained | ||
| ๐ฎ๐ท Iran | Against | ||
| ๐ฎ๐ธ Iceland | In favor | ||
| ๐ฎ๐น Italy | In favor | ||
| ๐ฏ๐ฒ Jamaica | In favor | ||
| ๐ฏ๐ด Jordan | Abstained | ||
| ๐ฏ๐ต Japan | In favor | ||
| ๐ฐ๐ช Kenya | Abstained | ||
| ๐ฐ๐ฌ Kyrgyzstan | Against | ||
| ๐ฐ๐ญ Cambodia | Abstained | ||
| ๐ฐ๐ฎ Kiribati | In favor | ||
| ๐ฐ๐ฒ Comoros | In favor | ||
| ๐ฐ๐ณ Saint Kitts and Nevis | Abstained | ||
| ๐ฐ๐ต North Korea | Against | ||
| ๐ฐ๐ท South Korea | In favor | ||
| ๐ฐ๐ผ Kuwait | Abstained | ||
| ๐ฐ๐ฟ Kazakhstan | Against | ||
| ๐ฑ๐ฆ Laos | Against | ||
| ๐ฑ๐ง Lebanon | -- | ||
| ๐ฑ๐จ Saint Lucia | In favor | ||
| ๐ฑ๐ฎ Liechtenstein | In favor | ||
| ๐ฑ๐ฐ Sri Lanka | Abstained | ||
| ๐ฑ๐ท Liberia | In favor | ||
| ๐ฑ๐ธ Lesotho | Abstained | ||
| ๐ฑ๐น Lithuania | In favor | ||
| ๐ฑ๐บ Luxembourg | In favor | ||
| ๐ฑ๐ป Latvia | In favor | ||
| ๐ฑ๐พ Libya | In favor | ||
| ๐ฒ๐ฆ Morocco | -- | ||
| ๐ฒ๐จ Monaco | In favor | ||
| ๐ฒ๐ฉ Moldova | In favor | ||
| ๐ฒ๐ช Montenegro | In favor | ||
| ๐ฒ๐ฌ Madagascar | Abstained | ||
| ๐ฒ๐ญ Marshall Islands | In favor | ||
| ๐ฒ๐ฐ North Macedonia | In favor | ||
| ๐ฒ๐ฑ Mali | Against | ||
| ๐ฒ๐ฒ Myanmar | In favor | ||
| ๐ฒ๐ณ Mongolia | Abstained | ||
| ๐ฒ๐ท Mauritania | -- | ||
| ๐ฒ๐น Malta | In favor | ||
| ๐ฒ๐บ Mauritius | In favor | ||
| ๐ฒ๐ป Maldives | Abstained | ||
| ๐ฒ๐ผ Malawi | In favor | ||
| ๐ฒ๐ฝ Mexico | Abstained | ||
| ๐ฒ๐พ Malaysia | Abstained | ||
| ๐ฒ๐ฟ Mozambique | Abstained | ||
| ๐ณ๐ฆ Namibia | Abstained | ||
| ๐ณ๐ช Niger | Abstained | ||
| ๐ณ๐ฌ Nigeria | Abstained | ||
| ๐ณ๐ฎ Nicaragua | Against | ||
| ๐ณ๐ฑ Netherlands | In favor | ||
| ๐ณ๐ด Norway | In favor | ||
| ๐ณ๐ต Nepal | Abstained | ||
| ๐ณ๐ท Nauru | In favor | ||
| ๐ณ๐ฟ New Zealand | In favor | ||
| ๐ด๐ฒ Oman | Abstained | ||
| ๐ต๐ฆ Panama | In favor | ||
| ๐ต๐ช Peru | In favor | ||
| ๐ต๐ฌ Papua New Guinea | In favor | ||
| ๐ต๐ญ Philippines | In favor | ||
| ๐ต๐ฐ Pakistan | Abstained | ||
| ๐ต๐ฑ Poland | In favor | ||
| ๐ต๐น Portugal | In favor | ||
| ๐ต๐ผ Palau | In favor | ||
| ๐ต๐พ Paraguay | In favor | ||
| ๐ถ๐ฆ Qatar | Abstained | ||
| ๐ท๐ด Romania | In favor | ||
| ๐ท๐ธ Serbia | In favor | ||
| ๐ท๐บ Russia | Against | ||
| ๐ท๐ผ Rwanda | -- | ||
| ๐ธ๐ฆ Saudi Arabia | Abstained | ||
| ๐ธ๐ง Solomon Islands | -- | ||
| ๐ธ๐จ Seychelles | In favor | ||
| ๐ธ๐ฉ Sudan | Abstained | ||
| ๐ธ๐ช Sweden | In favor | ||
| ๐ธ๐ฌ Singapore | Abstained | ||
| ๐ธ๐ฎ Slovenia | In favor | ||
| ๐ธ๐ฐ Slovakia | In favor | ||
| ๐ธ๐ฑ Sierra Leone | In favor | ||
| ๐ธ๐ฒ San Marino | In favor | ||
| ๐ธ๐ณ Senegal | Abstained | ||
| ๐ธ๐ด Somalia | -- | ||
| ๐ธ๐ท Suriname | Abstained | ||
| ๐ธ๐ธ South Sudan | Abstained | ||
| ๐ธ๐น Sao Tome and Principe | -- | ||
| ๐ธ๐ป El Salvador | Abstained | ||
| ๐ธ๐พ Syria | Against | ||
| ๐ธ๐ฟ Eswatini | Abstained | ||
| ๐น๐ฉ Chad | In favor | ||
| ๐น๐ฌ Togo | Abstained | ||
| ๐น๐ญ Thailand | Abstained | ||
| ๐น๐ฏ Tajikistan | Against | ||
| ๐น๐ฑ Timor Leste | In favor | ||
| ๐น๐ฒ Turkmenistan | -- | ||
| ๐น๐ณ Tunisia | Abstained | ||
| ๐น๐ด Tonga | In favor | ||
| ๐น๐ท Turkey | In favor | ||
| ๐น๐น Trinidad and Tobago | Abstained | ||
| ๐น๐ป Tuvalu | In favor | ||
| ๐น๐ฟ Tanzania | Abstained | ||
| ๐บ๐ฆ Ukraine | In favor | ||
| ๐บ๐ฌ Uganda | Abstained | ||
| ๐ฆ๐ช United Arab Emirates | Abstained | ||
| ๐ฌ๐ง United Kingdom | In favor | ||
| ๐บ๐ธ United States | In favor | ||
| ๐บ๐พ Uruguay | In favor | ||
| ๐บ๐ฟ Uzbekistan | Against | ||
| ๐ป๐จ St Vincent and the Grenadines | Abstained | ||
| ๐ป๐ช Venezuela | -- | ||
| ๐ป๐ณ Vietnam | Against | ||
| ๐ป๐บ Vanuatu | Abstained | ||
| ๐ผ๐ธ Samoa | In favor | ||
| ๐พ๐ช Yemen | Abstained | ||
| ๐ฟ๐ฆ South Africa | Abstained | ||
| ๐ฟ๐ฒ Zambia | -- | ||
| ๐ฟ๐ผ Zimbabwe | Against | ||
| ๐ด๓ ข๓ ก๓ ข๓ ฉ๓ จ๓ ฟ Bosnia and Herzegovina | In favor |
Not surprisingly, all NATO countries voted in favor of suspending Russia from the Council. This includes Turkey, which has taken a more neutral stance than other allies since the invasion began. Altogether, 93 countries voted for the resolution.
On the other side, 24 countries voted against the resolution. China is perhaps the most significant “no” vote, citing a lack of openness and transparency in the process. Of course, Russia itself voted against the resolution.
A number of countries abstained from voting, most notably, India. Leading up to the vote, Moscow indicated that even an abstention would be viewed as an “unfriendly gesture” with consequences for bilateral ties.
This suspension adds to the list of actions taken against Russiaโincluding heavy sanctionsโas the country becomes more isolated from the international communityโparticularly Western nations.
What Does the UN Human Rights Council Do?
The United Nations Human Rights Council (UNHRC) is a UN body whose mission is to promote and protect human rights around the world.
The Council investigates breaches of human rights in UN member states and member countries address big picture human rights issues.
How Does the UN Human Rights Council Work?
The Council consists of 47 members, elected yearly by the General Assembly for staggered three-year terms.
Using the UN regional grouping system, members are selected to represent a diverse and fair mix of countries from around the world. Until its suspension, Russia was one of the two countries representing Eastern Europe, along with Ukraine.
Members are eligible for re-election for one additional term, after which they relinquish their seat.
Where does this data come from?
Source: The United Nations
Correction: An earlier version of this graphic had a Colombian flag in the “abstain” section. It has been replaced with the correct flag, Cambodia. Austria was also erroneously grouped with NATO countries.
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