Half of Americans Report Job-Related Hardships

Filed under: Keeping Your Job,Labor,News,The Economy,Unemployment |

We all know it’s rough out there on the job, but the experts at the respected Pew Research Center have delivered new numbers on what they’re calling the Great Recession – great not because we love it so much, but because it’s been longer and harder than any other.

More than half of American’s have reported a job-related hardship this Great Recession, according to a Pew report based on U.S. Census Bureau analysis showing poverty rates have jumped to 15%.

Photo: U.S. Census Bureau

“While nearly all Americans have been hurt in one way or another, some groups have suffered more than others,” the report states. Here’s the good news/bad news from Pew:

• More than half of households (55%) say they are in worse shape than before the recession began in 2007 under the Bush Administration
• Those with a college education have been less affected by the recession
• Men have had higher job-loss rates than women
• Middle-aged adults have been hit the hardest in home values and loss of retirement funds
• Blacks and Hispanics have received a disproportionate amount of lob losses and foreclosures
• 27% have had trouble paying medical bills
• 49% loaned money to someone
• Young adults have taken the biggest losses on the job front
• Middle-aged adults have gotten the worst of the downturn in housing values, household finances and retirement accounts

Here’s the Pew site and reports.

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