Wednesday, December 15, 2010

How the Great Recession Has Hurt Americans

For just $5 you can download the best study to date of the effects of the Great Recession on the average American. This National Bureau of Economic Research study (Effects of the Financial Crisis and Great Recession on American Households, by Michael D. Hurd and Susann Rohwedder) is based on the smart, new American Life Panel, an Internet survey run by RAND. With findings as recent as spring 2010, the analysis shows that 39 percent of households have been severely hurt by the recession--meaning they have experienced unemployment, have negative equity in their home, are arrears in their house payments, or have had a foreclosure. Monthly household spending is also analyzed, revealing deep cuts in restaurant meals and health care.

Source: National Bureau of Economic Research, Working Paper 16407

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