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A sobering look at how the recession has changed us

Posted By Clayton Henkel On June 30, 2010 @ 9:44 am In Uncategorized | Comments Disabled

A new survey released Wednesday by the Pew Research Center‘s [1] Social & Demographic Trends Project finds that 30 months after the recession began, Americans have downsizing their expectations about retirement and their children’s future.

Among the key findings: [2]

* More than half (55%) of all adults in the U.S.labor force say that since the recession began, they have suffered a either a period of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers.

* More than six-in-ten Americans say they have cut back on their spending. When asked to predict their spending patterns once the economy does improve, 31% say they plan to spend less than they did before the recession began.

* A third (32%) of adults now say they are not confident that they will have enough income and assets to finance their retirement.

* More than a quarter (26%) of Americans say that when their children become the age they are now, their children will have a worse standard of living than they now have.

You can read the full report here [3].

Article printed from The Progressive Pulse: http://pulse.ncpolicywatch.org

URL to article: http://pulse.ncpolicywatch.org/2010/06/30/a-sobering-look-at-how-the-recession-has-changed-us/

URLs in this post:

[1] Pew Research Center‘s: http://pewsocialtrends.org/

[2] Image: http://pulse.ncpolicywatch.org/wp-content/uploads/2010/06/retirment.jpg

[3] here: http://pewsocialtrends.org/assets/pdf/759-recession.pdf

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