Survey: More than half of all Americans have taken job hit in Great Recession

More than half of all adults in the U.S. labor force say that since the Great Recession began 30 months ago, they have suffered a spell of unemployment, a cut in pay, a reduction in hours or been moved involuntarily to part-time work, a new survey by the Pew Research Center has found.

The survey also finds that the recession has reduced spending and borrowing by Americans, diminished expectations about retirement and their children's future, and fueled beliefs that it will take several years - at a minimum - for family finances and house values to recover.

Some findings are:
  • One-third have lost jobs. In addition to pay cuts and reductions in hours, the survey finds that about one-third of working adults have been unemployed during at least some portion of the recession. 

  • It ain't over 'til ... A majority of Americans believe the U.S. economy is still in a recession.

  • Earning less, spending less. More than six-in-ten Americans say they have cut back on their spending since the recession began in December 2007.

  • Family Finances: Slightly more than half are in worse financial shape now than before the recession began, while just more than 20% say they are in better shape.

  • Lower Expectations for Children's Future: Slightly more than a quarter of Americans say their children will have a worse standard of living than they now have.
Read the full report at .

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