Monday, November 28, 2011

The increase of economic insecurity among Americans

The Great Recession has triggered an increase in the percentage of Americans facing economic insecurity. In 1986, 14.3% of the nation were economically insecure; in 2008, 2009, and 2010, the percentage rose to 20%. Surprisingly, Americans have been becoming economically insecure since before the Great Recession. 16% of Americans felt insecure during the 10-year period from 1986 to 1996. By the next decade, the percentage rose to 17%. Hacker measures economic insecurity by looking at income loss, out-of-pocket medical expenses, and lack of savings.

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