Tuesday, May 19, 2015

Still Not Over the Great Recession

The Great Recession still lingers for many Americans, according to a survey by Transamerica Center for Retirement Studies. When the nation's workers were asked how they would describe their recovery from the Great Recession, this is what they said...

16% have fully recovered
40% have somewhat recovered
21% were not affected by the Great Recession
15% have not yet begun to recover
8% may never recover

Of course these figures vary by age, with workers in their forties and fifties most likely to say they have not yet begun or may never recover (27 percent). Workers in their sixties are most likely to say they have fully recovered (20 percent). The biggest difference is in the percentage of workers who say they were not affected by the Great Recession. The figure is highest among workers in their twenties (30 percent) and lowest among workers in their sixties (11 percent).

More about workers and retirement can be found in the 16th Annual Transamerica Retirement Survey of Workers: Retirement Throughout the Ages: Expectations and Preparations of American Workers

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