A Recovery No Better than the Recession
The median income of American households decreased by as much in the two years after the official end of the Great Recession as it did during the recession itself. The current recovery is the worst for household income for any post-recession period in decades.
Young, Underemployed and Optimistic
A plurality of the American public believes that young adults are having the toughest time of any age group in today’s economy — and a lopsided majority says it’s more difficult for today’s young adults than it was for their parents’ generation to pay for college, find a job, buy a home or save for the future. But long-term economic optimism among young adults remains unscarred.
Hispanics Say They Have the Worst of a Bad Economy
A majority of Latinos (54%) believe that the economic downturn that began in 2007 has been harder on them than on any other ethnic group in America.
In a Down Economy, Fewer Births
A sharp decline in fertility rates in the United States that started in 2008 is closely linked to the souring of the economy that began about the same time.
Wealth Gaps Rise to Record Highs Between Whites, Blacks and Hispanics
The lopsided wealth ratios are the largest since the government began publishing such data a quarter century ago and roughly twice the size of the ratios that had prevailed between these three groups for the two decades prior to the Great Recession that ended in 2009.
In Two Years of Economic Recovery, Women Lost Jobs, Men Found Them
During the sluggish two-year recovery from the Great Recession, men have gained 768,000 jobs while women have lost 218,000 jobs. This new gender gap in employment trends represents a sharp turnabout from the recession itself, when men lost more than twice as many jobs as women. The current recovery is the first since 1970 in which women have lost jobs while men have gained them.
After the Great Recession: Foreign Born Gain Jobs; Native Born Lose Jobs
Immigrants are gaining jobs at a time when native-born workers continue to sustain losses. Foreign-born workers job gains may be the result of greater flexibility with regard to wages and hours of work or greater mobility. But despite rising employment, immigrants have experienced a sharp decline in earnings as well as a still substantial net loss in jobs.
One Recession, Two Americas
For a narrow majority of Americans (55%), the Great Recession brought a mix of unemployment, missed mortgage or rent payments, shrinking paychecks and shattered household budgets. But for the other 45%, the recession was largely free of such difficulties.
Nearly six-in-ten Americans say it is “unacceptable” for homeowners to stop making their mortgage payments, but more than a third say the practice of “walking away” from a home mortgage is acceptable under certain circumstances. Homeowners whose home values declined during the recession and those who have spent time unemployed are more likely to say that “walking away” from a mortgage is acceptable.
Since the Start of the Great Recession, More Children Raised by Grandparents
One child in 10 in the U.S. lives with a grandparent, a share that increased slowly and steadily over the past decade before rising sharply from 2007 to 2008, the first year of the Great Recession. About 40% of all children who live with a grandparent (or grandparents) are also being raised primarily by that grandparent.