A survey conducted by the Pew Research Center gives insight into financial and attitudinal changes among Americans since the recession began in December of 2007. The report, How the Great Recession has Changed Life in America, notes that household wealth dropped by approximately 20% between 2007 and 2009, the most severe decline in that category since World War II.
Other findings include:
- Over half of the adults in the workforce have experienced unemployment or a reduction in hours or pay
- Over 60% of adult Americans reported a reduction in spending habits since the recession hit and 31% intend to continue this change in the future
- Nearly half of homeowners reported a drop in the values of their homes
A copy of the report, including survey methodology, is available through the Pew Research Center’s Social and Demographics Trends project web page and here.