As of November, 2021, the U.S. savings rate has settled to 6.9 following a spike due to the coronavirus-induced economic slowdown. In the 1970s and 1980s, personal savings rates were in the 7% to 15% range but declined early in the 21st century to a low of 2.2% in 2005. The savings rate went up in the United States starting in 2008 following the recession.