Even the Quietest Loss Can Be Loud: Why Hearing Health Matters for Most Americans
Imagine the gentle hum of daily life—a conversation with a friend, the rustle of leaves, music on the radio—fading away bit by bit. For millions of Americans, this quiet decline is neither minor nor rare: hearing loss is widespread and deeply affects quality of life.
How Common Is It?
- More than 50 million Americans have some degree of hearing loss—that’s nearly 1 in 7 people. (Hearing Loss Association of America, 2022).
- In 2019, approximately 22 percent of Americans, or around 73 million people, experienced hearing loss ranging from mild to profound. (Guerra et al., 2024).
Clearly, hearing loss isn’t an isolated issue—it’s a national concern.
More Than Just Silence
Hearing loss carries consequences that extend far beyond the ears. People with untreated hearing issues are more likely to face social isolation, depression, and cognitive decline—including an increased risk of dementia. In fact:
- Mild hearing loss can double the risk of dementia,
- Moderate loss can triple it,
- And severe loss may raise it as much as five-fold. (Lin et al., 2011).
Solutions Exist—But Often Go Untapped
Despite its widespread impact, hearing loss frequently goes unaddressed:
- Around 28 million U.S. adults could benefit from hearing aids—but fewer than 20 percent of them actually use one. (NIDCD, personal communication, May 16, 2016).
- On average, individuals wait nine years after diagnosis to get their first hearing aid. (Simpson et al., 2019).
- Only about 10 percent of those with mild to profound hearing loss reported using hearing aids in 2019. (Olusanya et al., 2019).
What You Can Do Today
- Take a hearing test—especially if you notice ringing, difficulty following conversations, or frequently asking “what?”
- Explore accessible technology—such as over-the-counter hearing aids or devices with built-in amplification features. Most modern cell phones are also hearing-aid compatible, making it easier than ever to stay connected.
- Use available support resources—for instance, the Nebraska Public Service Commission offers TRS/NSTEP Consumer Information, which includes vouchers (up to $1,000 every 3 years for each person) to help individuals purchase equipment such as cell phones (hearing-aid compatible), amplified phones, and captioned telephones. For more information: https://psc.nebraska.gov/for-consumers/trsnstep-consumer-information
Taking care of hearing health is more than a medical choice, it’s a financial one, too. Untreated hearing loss can lead to higher healthcare costs, reduced productivity, and missed opportunities. On the other hand, planning ahead—whether that means setting aside funds for hearing aids, making use of programs like Nebraska’s NSTEP vouchers, or ensuring insurance coverage—can protect both your health and your financial future.
Just like saving for retirement or budgeting for healthcare, addressing hearing needs early is an investment in quality of life.
Let's Team Up
With hearing loss affecting up to a quarter of older adults—and linked to isolation, depression, and cognitive decline—paying attention to hearing health isn’t just about hearing better—it’s about living better. Early intervention, affordable access, and thoughtful planning can transform lives.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This material was prepared by Nathan Wyatt for the Investment Service Center’s use.
Early each month, the BLS releases a slew of labor market indicators that are scrutinized by investors. The most prominent is the Employment Situation (“Jobs”) Report, which recently showed the U.S. economy added just 22k payroll jobs in August. Although crucial, its data are volatile and subject to large revisions, and revisions scheduled for later this week could reveal that ~875k fewer payroll jobs were created during the 12 months ended March 2025 than initially reported. This serves as a reminder that signals from any single data point can be murky. Instead, investors should use the broader basket of indicators to inform their view of the labor market.
Other data released last week all told a similar story: the labor market is eroding, but only slowly. Policy uncertainty has weighed on labor demand, and the job openings-to-unemployed worker ratio fell to 0.99 in July. This is the first time since April 2021 that there has not been at least one job opening for each unemployed worker. While this ratio remains above its 2015-2019 average, it is well below its post-COVID peak of 2.01. Elsewhere, initial jobless claims ticked higher but remain low relative to history, while ADP private payrolls rose by 54k in August, down from 2024’s average of 144k.
With downside risks to employment growing more apparent, a September rate cut is all but certain while an October cut also looks more likely. However, with tariffs still making their way through the inflation data and fiscal stimulus likely to complicate the outlook, the Fed finds itself in an unenviable position. While the labor market will be in greater focus, the FOMC should continue to stress its data dependency. Any economic surprises, in either direction, could spark a sharp repricing and another bout of interest rate volatility.
Chart of the Week: BLS, FactSet, J.P. Morgan Asset Management.
Thought of the Week: ADP, BLS, FactSet, U.S. Department of Labor, J.P. Morgan Asset Management.
Index: Institute for Supply Management Manufacturing Index; PCE: Personal consumption expenditures; Philly Fed Survey: Philadelphia Fed Business Outlook Survey; PMI: Purchasing Managers' Manufacturing Index; PPI: Producer Price Index; SAAR: Seasonally
Adjusted Annual Rate
MSCI EAFE is a Morgan Stanley Capital International Index that is designed to measure the performance of the developed stock markets of Europe, Australasia, and the Far East.
Bond Returns: All returns represent total return. Index: Bloomberg US Aggregate; provided by: Bloomberg Capital. Index: Bloomberg Investment Grade Credit; provided by: Bloomberg Capital. Index: Bloomberg Municipal Bond 10 Yr; provided by: Blomberg Capital. Index: Bloomberg Capital High Yield Index; provided by: Bloomberg Capital.
Key Interest Rates: 2 Year Treasury, FactSet; 10 Year Treasury, FactSet; 30 Year Treasury, FactSet; 10 Year German Bund, FactSet. 3 Month LIBOR, British Bankers’ Association; 3 Month EURIBOR, European Banking Federation; 6 Month CD, Federal Reserve; 30 Year Mortgage, Mortgage Bankers Association (MBA); Prime Rate: Federal Reserve.
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