New survey: More than half of U.S. workers hurt by recession

Fifty-five percent of adults in the work force say they have suffered from unemployment, a pay cut, a reduction in hours or have become involuntary part-time workers since the recession began 30 months ago, according to a new national survey released Wednesday.

The survey by the Pew Research Center also found 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;

– A concern that it will take several years, at a minimum, for their family finances and home values to recover.

The survey found that 54 percent of Americans say the U.S. economy is still in a recession, while 41 percent say it is beginning to come out of the recession. Just 3 percent say the recession is over.

Not all survey findings are bleak, the Pew Center said in a news release.

Sixty-two percent of Americans believe that their personal finances will improve in the coming year, the survey found.

The survey contacted 2,967 adults from May 11 to May 31, 2010, on cellular and landline telephones.

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22 comments Add your comment

pookfester

June 30th, 2010
8:54 am

I think we have to understand the stress level. People ready to throw it all away and move to Jamaica and live on the beach. Hair loss, sleeplessness. People drinking gallons of coffee, stressed. Trying to stay awake and see whats going to happen. It’s a mess for sure. We need to all put our arms around one another. Give each other a big huggie. It’s going to be ok.

Yes We Can!

June 30th, 2010
9:13 am

Don’t give up hope—the government says the recession is over!! Hope and change!!!

whatdoiknow

June 30th, 2010
9:48 am

Hey! How is that Hope and Change working out for all you folks now?!

Yeah, okay

June 30th, 2010
9:52 am

It still would’ve been a million times worse under McCain/Palin.

Marko

June 30th, 2010
9:56 am

A million times worse? Please do explain how, details please.

uknownuts

June 30th, 2010
10:01 am

Really, the best you can do is quote an idiot? You don’t have any short-term memory either, since Bush said we weren’t even in a recession. Obama INHERITED two wars, economic collapse and a man-made disaster caused by people who think money and stuff are more important than people and the environment which provides the food, water and air we need to live.

blackprix

June 30th, 2010
10:20 am

uknownuts … Say it again so that those on the right can hear it OFTEN and loud!!!!!

BossDawg

June 30th, 2010
10:26 am

There you go. Your guy can’t get his head out of his rear and show leadership so you just continue to blame the guy that ran the country before him. You people are worthless!

Arthur

June 30th, 2010
10:30 am

Complete collapse into deep recession and than depression until 2012 when current so called bleak democratic leadership or is it sheep ship? is either voted out entirely or impeached. escalation of war..myopic sticking of head into oily sand like an ostrich and forcing healthcare coverage for the desolate and illegal care against the hordes of illegal scum being welcomed into this country from places such as Hatia..Mexico and other 3rd world desolate environments.

Read local headlines Marta to cut 300 Newton county 100, Cobb 500 other governments basing their budgets on more bailouts from a polarized Federal corrupt government ..it will not be coming
in folks as the revenue is not there…

Southeast Gulf states hemorraging jobs illness and suicides,millions of birds fish and waterloving animals gone forever, … due to corruption of BP and complacent and slow acting government to protect us while 500,000 soldiers are stationed in no win escalated war areas which destroyed the former Soviet Union due to economic collapse ..you cant have 100% butter and guns economics 101…

NATIONWIDE 30 states insolvent leading by $20billion 2011 deficit California and up to $55billion in California by 2012…Arizona besieged by illegal Mexican drug dealers mules and illegals ..Bravo for gallant Governor..Ga Number 6 in nation with projected 600,000 illegals as of 7/1/2010, Chicago murder and gun capital of nation with 30 people shot and 10 killed there in city streets in last 8 days!!!

Unemployment raging in America vary from 8% to 18% with numbers rising each week..

Recession Depression , hyperinflation and collapse in this order in the next 18 months..

I hope I am wrong but this is what I forsee…

Student

June 30th, 2010
10:57 am

Obama did not inherit 2 ways and a recession/depression. He was in Congress when the recession started and he ACTIVELY SOUGHT THE JOB KNOWING THE SITUATION THE COUNTRY WAS IN.

Belle

June 30th, 2010
11:08 am

Arthur – I see we read some of the same material and have come to the same conclusion. Get ready, ’cause here it comes.

Thoreau

June 30th, 2010
11:11 am

Bush’s failure was in not doing enough quickly to mitigate the collapse. Obama, on the other hand, rushed-in with the very theives that perpetrated the collapse and sought their guidance about how to put Pandora back in her box.

BamaGurl

June 30th, 2010
11:14 am

Blah, blah, blah! President OBAMA inherited this mess. It’s like all of a sudden you realize that he is BLACK and whites and many colored people hate him. I understand the whites because they hate everybody who ain’t white. But, you colored people, I won’t even call you Black, I wouldn’t want to claim you, but, you colored people who side with those whites are a disgrace. GEORGE BUSH was CRAP and he left us in this CRAP, white people. Try to be part of the solution. You have run rough shod over the Native American Indians, the Chinese, Blacks(Slavery) and Poor white trash. I am sick of ya’ll! Run away! Go! Fly the coop! I am better without ya!

BossDawg

June 30th, 2010
12:36 pm

BamaGurl gets my vote for “Genius of the Week” after that nonsensical post.

pookfester

June 30th, 2010
1:51 pm

Every American dreams of being President. Thats the last job I would want. All your enemies stand around and yell at you like you are a stupid barn animal. Sometimes they throw old vegetables at you. Everything you do is wrong. Including the way you brush your hair and the friends you have. It’s like he is on trial for murder everyday. Dillinger had it easier than that guy has. So in conclusion. Doesn’t matter if its Bush, Chenny, Obama or Nixon. I would rather rake leaves and pull weeds. Than be hated that badly.

The Economy

June 30th, 2010
1:54 pm

Doing better than ever, lived well below our means. Thank God every day, and pray for those less fortunate. There is a leason in all this, some people will find it the hard way.

The Economy

June 30th, 2010
2:00 pm

P.S, a REVOLUTION is coming, better decide what side ur on.

TURNING POINT

June 30th, 2010
6:55 pm

This is awesome stuff keep it coming, Biz Beat you rock!!

TnGelding

June 30th, 2010
11:40 pm

Then 95% don’t know the definition of recession.

The Economy

July 1st, 2010
8:57 am

95% are in for a BIG surprise.

A.S.Mathew

July 1st, 2010
6:55 pm

This recession has affected every business, except those people who are in the medical field.
But hospitals are hit hard in some cities. We were living in a fancy world of plastic cards, all on a
sudden, met with the reality of life.

Car sales are down. Take off parts of those American-made cars: perhaps 90% of the parts are
made in a foreign country. Call the company for some information, the answer will come from
India or some other Asian countries. Look at the label of clothings, both in high end and low end
stores; 90% are made in China and the rest in some other small countries of Asia or from the south
side of the U.S.

The “new world order” proclaimed by President George Bush Sr. is being fulfilled. Who can
reverse it? If anybody is expecting a fast recovering within one year or two years, it is a total
myth. We don’t live by exporting oil like Kuwait or Saudi Arabia, but living by working here.
We were exporting our factory jobs overseas (big corporations) and high paid jobs through
outsourcing. On the other hand, we were consuming too much of the products produced in
other countries. Our standard of living will be reduced considerably, and a ” new order of life
will be in the making”. Let us face it, because it is a reality of life.

Change is Hard

July 1st, 2010
11:34 pm

Yes we can! Hope and change! Audacity of hope!