Posted on 06/15/2019 9:07:43 AM PDT by EdnaMode
The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate.
Many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.
“There are still tens of millions who are struggling to even get back to where they were before the economy took a turn for the worse,” said Mark Hamrick, senior economic analyst at Bankrate.com.
More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis.
Fewer than half (46%) of those who were adults at the time of the recession say they’ve seen their paychecks grow since before it began. More than a third of those who say they, or their partner, lost a job during the recession say their pay has actually dropped from before the recession. More than 2,700 adults were interviewed online in May.
(Excerpt) Read more at cnbc.com ...
I think it is part of the socialist plan to eliminate the middle class. If someone really broke it down they would probably find instead of the upward movement that was common in this country we would find a downward movement. I would bet more people have moved from middle class to poverty level during the last decade than have moved from poverty to middle class.
All the socialist programs seem to be designed to keep people in poverty, if they earn any money they lose benefits. Hard to get free of that once you get sucked in. Also easy assistance takes away incentive to do what it really takes to get ahead. Double whammy.
Importing illegal labor in a steady stream keeps unemployment of citizen workers high and wages down in jobs poor and lower middle class workers would often have. It was very common in the construction industry to be able to start as a laborer out of high school end up owning a construction company of your own if you were willing to work hard. Those entry level labor jobs began to go to illegals over citizens in the 70s and that has increased in the decades since. Now it is all but impossible for a citizen to even get those entry level jobs. No rungs on the bottom of that ladder. Not just in construction now either but in hotel, restaurant, many trades.
When citizens do manage to get entry level jobs that illegals are getting, the wages are kept down because of the illegal workers available so not much way to get ahead.
The improving economy would help turn that around but the stream of illegal workers has to stop. The assistance programs have to be changed so it would be easier for people to get back into the work force and not get trapped in the system.
Agreed but its actually been bad for contractors since 2002.
It only started to turn around in 2016.
H1b are no longer grabbing all the prime jobs and leaving the scraps for Americans.
Heck, even my ex found a job!
Illegal aliens are NOT Americans, they are invading criminals.
Thanks for sharing and posting your reality.
AND..just crossing our border ILLEGALLY does not make you literate nor add 20 points to your IQ to get a 21st century job !!
Thank you Obama for your lasting legacy. Worst economy in history.
I’m just now making the same income that I was making before the Bush-Obama Depression. But I’m doing what I want to be doing, so it’s all good.
Yes things are still the shits for us despite some upturn since Trump. I’m in law. Our firm was forced to downsize and is about the third it was. Economy has been largely dead since 2007. Massive problems with homelessness and bums and drug addicts everywhere, including dozens/hundreds right outside our offices in the financial district. Dangerous to walk around now.
Retail has been devastated. Amazon has greatly reduced the number of low-skilled jobs available.
Restaurant buildings are starting to sit empty.
Leftists are trying to put a $15/hour minimum wage into the Florida Constitution. Employers are too scared to create new jobs (that won’t be able to pay it).
Latin Americans have taken over new housing construction labor in my area. They are moving into other licensed contracting work.
The licensed contractors tend to be US citizens since the books needed to sit for the licensing exams cost about $3,000 in total and are in English.
Many Americans....
How many?
How many are actually Bonafide American citizens?
How many are dead democrats speaking from the grave?
Many people are making more money, but prices are rising fast due to the PPACA, rampant substance abuse boosting health care costs, corporate efforts to boost share prices, more regulatory costs, etc.
My wife and I worked for a national healthcare system since before the recession. In the last 36 months, my take home pay has increased $19.97 per two week pay period. My responsibilities increased; and I was working on consolidating operations between five hospitals.
We were supposed to “understand” that we were working for the betterment of the organization.
What they did not count on was my ability to read financial reports—where I saw executive compensation was up significantly, investment losses were almost half a billion dollars, and bad debt for on the of the places where the executive team received bonuses in excess of my departments’ budget surpassed half a billion dollars.
And I was being squeezed for more benefit money, higher deductibles, and more required hours of work.
No thanks.
I quit. I didn’t burn the place down or throw a fit. But I honestly told them that I did not have to do that shit, so I gave them three weeks notice and left.
I am living off savings for the next couple of years until I can collect on a variety of pensions.
I know most people cannot do that. So, they continue to work as slaves to the organizations who treat their executives as some sort of barony.
Until more people do that, companies will continue to be bloated and unmanageable. Small businesses learned to be lean and work with their staffs years ago. Some of the managers I worked with in this healthcare group were among the worst staff managers I’ve seen in 35 years. The “stupid” and “self deception” was staggering.
And now, one of their doctors was going around killing people with larges doses of morphine. Just think about how good the “controls” in the pharmacy were at that place! And they were living up to the management standards of the corporate office.
One would have to wonder what their operating rooms looked like. Well, I don’t have to...but it should be on everyone’s mind.
Thats whats going on in business these days.
https://twitter.com/AnnieReporter
She mad about her crushing student debt, and wants Senatrix Fauxahontas to forgive it...
This is historical ignorance. People were starving, literally starving. Right now, you can get SNAP benefits, free school lunches plus food at the food bank. We can discuss QUALITY of food, but no one is starving unless by choice.
“Obama’s entire time in office was a giant black hole that we are still recovering from.”
Deserves repeating, loudly and often!
Ophonybama was the WORST President in history!
Channel 2 in Chicago was interviewing “protestors” on the South Side of the City asking what they wanted - “we want jobs” they all yelled at the camera. Of course there are 1000’s of jobs in the Chicago area - from fast food to warehouses - but these idiots just want a check. They will never be better off.
bkmk
wow! apparently a hardcore warren supporter and deep in student debt.
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