What the media ignores: American consumers are paying more for TV repair than ever before.
The number of people who are paying for TV repairs is increasing at a much faster rate than any other major market.
The most recent data from Nielsen shows that Americans are paying a total of $5.4 billion for TV and related appliances over the past five years.
More: The Hill reports that over the same period, the number of Americans who have been injured or killed while doing repairs to TVs and other TV devices was up nearly 200 percent.
In a separate report from Nielsen, the Consumer Federation of America found that the number who were injured or died doing TV repairs in 2015 was nearly 5 times higher than the previous year.
Consumers are increasingly choosing to repair and replace their TV and other devices because they are paying higher prices.
The price of the most commonly used TVs and appliances has increased from $4,600 in 2015 to $7,500 in 2016.
But that is still below the $8,000 per unit average cost for newer TV sets.
Meanwhile, the price of consumer electronics has decreased by almost 50 percent since 2015.
In 2018, consumers paid about $4.50 per month for a standard 2-channel HD TV.
In 2020, they paid about 10 cents per month, according to the Consumer Reports research.
The biggest jump came in 2019, when they paid nearly $4 a month for the HD-TV that comes with the latest iPhone 6.
Consumers also are paying less for other household items.
In 2017, they spent $1,000 on a microwave, $800 on an appliance, and $300 on a computer.
But by 2019, they were spending $3.50 for each of those items, according the consumer advocacy group.
Consumer Reports also noted that consumers are also paying more than ever for home maintenance.
It reported that over 1.3 million Americans over the age of 18 were doing home repairs last year.
About 9.6 million of them were doing the work in 2018, up from 8.2 million in 2017.
The study found that while home repairs cost more per unit than they did in 2017, the average cost per year for repairs had dropped by about 30 percent.
More: Consumer Reports reports that people are paying $1.19 for every $1 they spend on groceries and $1 for every dollar spent on housing.
In 2019, consumers spent $2.70 on groceries, $1 on housing, and about $1 per day for repairs.
Despite the increased costs, Americans are still willing to pay for repairs because they don’t feel as bad about it.
According to Consumer Reports, about two-thirds of respondents said they did not feel bad about doing repairs.
That is the highest percentage ever recorded.
“We are not saying that the problems are over, but people feel like they have done something wrong and the fix is a matter of days or weeks away,” Consumer Reports said.
Meanwhile, TV repair and appliances are expected to be one of the top three industries for sales in 2018.
The Hill’s analysis shows that while the overall economy is growing, it is still losing jobs and the unemployment rate is at the lowest level since the Great Recession.
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