The journey home won't be quite as far this year for many young adults. Instead of traveling across country or across town, many grown sons and daughters will be coming to the holiday dinner table from their old bedroom down the hall, which now doubles as their recession-era refuge.
Older adults are staying in the labor force longer, and younger adults are staying out of it longer. Both trends intensified with the recession and are expected to continue after the economy recovers. One reason: Older workers value not just a paycheck, but the psychological and social rewards.
In the midst of a recession that has taken a heavy toll on many nest eggs, just over half of all working adults ages 50 to 64 say they may delay their retirement -- and another 16% say they never expect to stop working.
Relatively speaking, older Americans' attitudes and lifestyles have been less affected by the economic slump than have those of younger Americans. Meantime, the "Threshold Generation," people nearing retirement, have been hardest hit, as they’ve seen their nest eggs shrink the most.
From the kitchen to the laundry room to the home entertainment center, Americans are paring down the list of familiar household appliances they say they can't live without.
The eight-year period from 1999 through 2007 is the longest in modern U.S. economic history in which inflation-adjusted median household income failed to surpass an earlier peak.
Pew Research Center Executive Vice President Paul Taylor's full testimony to the Senate Finance Committee.
Not even a housing-led recession can shake Americans' faith in the blessings of homeownership.