Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Recession cut into employment for half of working adults, study says

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 01:07 PM
Original message
Recession cut into employment for half of working adults, study says
Source: Washington Post

The recession has directly hit more than half of the nation's working adults, pushing them into unemployment, pay cuts, reduced hours at work or part-time jobs, according to a new Pew Research Center survey.

The economic shock has jolted many Americans into a new, more austere reality, which is likely to have lasting consequences for an economy fueled mostly by consumer spending. More than six in 10 Americans say they have cut down on borrowing and spending, the survey found.

The reason: Nearly half of the survey's respondents say they are in worse financial shape as a result of the downturn, which destroyed 20 percent of Americans' wealth.

<snip>

The longest and deepest recession since the Great Depression has exacted a punishing toll that continues nearly a year after the economy started growing again. Hardest hit are the 9.7 percent of workers who have been out of a job for an average of nearly six months. Many Americans are delaying retirement and others have lower expectations for their children's futures, the Pew poll found.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/20...
Printer Friendly | Permalink |  | Top
madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:08 PM
Response to Original message
1. it`s a depression ....
wait till november rolls around...
Printer Friendly | Permalink |  | Top
 
Bragi Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:14 PM
Response to Original message
2. Good thing Americans are so docile
In most countries, people will organize and show resistance when someone steals their retirement savings, forecloses on their homes, eliminates their jobs, and cuts their unemployment insurance payouts.

In America, no problem. Not only is there no resistance, but people will actually blame themselves and other victims when they are ravished by their corporate overlords.

This is what defines the America of today.
Printer Friendly | Permalink |  | Top
 
inna Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 02:25 PM
Response to Original message
3. Class warfare in action. It's more, like, economic terrorism at this point.

See this, this will make your blood boil:

The Financial Terrorists Who Destroyed Our Economy Reap Record Profits and Will Pay Zero in Taxes -- and Get $33 Billion in Refunds:

http://www.alternet.org/story/146509/the_financial_terr...



Printer Friendly | Permalink |  | Top
 
marions ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 05:26 PM
Response to Original message
4. Capitalize Profits, Socialize Losses
that about sums up what's going on....

:grr:
Printer Friendly | Permalink |  | Top
 
KansDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 06:15 PM
Response to Original message
5. That's one big ant!
:sarcasm:
Printer Friendly | Permalink |  | Top
 
applegrove Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-30-10 11:29 PM
Response to Reply #5
6. Right on.
Printer Friendly | Permalink |  | Top
 
Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-01-10 09:33 AM
Response to Reply #5
7. +1
:thumbsup:
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri Nov 28th 2014, 01:08 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC