Tuesday, June 29, 2010

The Great Recession: Survey Says.....

...55% have experienced a work-related problem.


Link to June 30 Pew Research report, "The Great Recession at 30 Months".

Excerpt: More than half (55%) of all adults in the labor force say that since the Great Recession began 30 months ago, they have suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers, according to a new survey by the Pew Research Center's Social and Demographic Trends Project.

The survey also finds that the recession has led to a new frugality in Americans' spending and borrowing habits; a diminished set of expectations about their retirements and their children's future; and a concern that it will take several years, at a minimum, for their family finances and house values to recover.

Not all survey findings are bleak. More than six-in-ten (62%) Americans believe that their personal finances will improve in the coming year, and a small but growing minority (15%) now says the national economy is in good shape
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