How Do People Feel About The Recession?

HOW DO PEOPLE FEEL ABOUT THE RECESSION ENDED? AMERICANS LEFT CLUELESS The National Bureau of Economic Research's recent announce- ment that the recession officially ended in June 2009 came as a surprise to the 14,9 million Americans who are still unemployed. The Recession? AMERICAS VIEW OF UNEMPLOYMENT More than half of Americans have an immediate or extended family member who has lost a job during the recession. VIEWS OF THE UNEMPLOYED 86% | 89% 49% | 34% 44% | 29% 16% | 10% 15% | 12% MOST OF THOSE WHO ARE MOST OF THOSE WHO ARE IT'S NOT HARD TO FIND A MOST OF THOSE MOST OF THOSE WHO ARE UNEMPLOYED REALLY UNEMPLOYED ARE TOO JOB IN AMERICA IF YOU UNEMPLOYED ARE PRETTY UNEMPLOYED ARE THERE WANT TO WORK PICKY ABOUT THE JOBS REALLY WANT TO WORK HAPPY NOT TO HAVE TO BY THEIR OWN CHOICE THEY WILL ACCEPT WORK 16% of the survey respondents think that most unemployed Americans are pretty happy not to have to work. Just 10% of the survey respondents who are also unemployed and looking share that 15% of the survey respondents think that most unemployed Americans are there by their own choice: an opinion that's shared by 12% of the respondents who are also unem- ployed and looking for work THE PRIMARY RESPONSIBILITY FOR HELPING JOBLESS AMERICANS 42% | 22% 26% | 26% 32% |51% opinion GOVERNMENT EMPLOYERS WORKERS THEMSELVES Total Sample Unemployed & Looking THE IMPACT OF THE RECESSION ON AMERICAS' FINANCES WHO'S IN DEBT AND HOW HAVE AMERICANS MANAGED THEIR MONEY? More than half of all Americans (56%) report having some kind of financial debt other than their mortgage or rent. 72% of unemployed Americans and 37% of employed Americans say.... How would you rate your own personal financial situation? Percent of Americans reporting (non-housing) debt. TOTAL SAMPLE UNEMPLOYED & LOOKING TOTAL NATIONWIDE AGE 55+ LARGE-COMPANY EMPLOYEES* 7% 10% 69% EXCELLENT SHAPE 0% AGE 35-54 EXCELLENT SHAPE MEN 56% 67% 37% 34% 44% HOURLY WORKERS GRADUATED GOOD SHAPE GOOD SHAPE COLLEGE 67% 53% WHITES 54% 63% WOMEN FAIR SHAPE 39% FAIR SHAPE 56% 55% 63% GRADUATED HIGH SCHOOL BLACK/HISPANICS POOR SHAPE POOR SHAPE 55% 16% OR LESS 60% 56% 58% ATTENDED SOME COLLEGE AGE 18-34 REFUSED - 1% REFUSED 0% SMALL-BUSINESS SALARIED WORKERS EMPLOYEES** *A large company is defined as having 250 or more employees **A small business is defined as having 250 or fewer employees HAVE YOU DONE ANY OF THE FOLLOWING BECAUSE OF THE ECONOMIC DOWNTURN? While many struggle to manage their finances, 78% of Americans believe that the recession has changed their spending habits for the better. 100 TOTAL SAMPLE EMPLOYED UNEMPLOYED & LOOKING 80 60 40 20 3 10 11 12 1. Reduced overall spending 2. Put off plans for home improvements or a vacation 3. Used money from savings set aside for other things or retirement to make ends meet 4. Loaned money to family or friends 5. Borrowed money from family or friends 6. Increased credit card debt 7. Missed a mortgage or rent payment 8. Missed a credit card payment 9. Moved to a different house or apartment or living a stress-related disorder or depression 11. Borrowed money against your house or from a bank 12. Declared personal bankruptcy arrangement 10. Sought professional help in the past 12 months for AMERICANS ARE STILL CONCERNED A year from now, do you expect economic conditions in the nation as a whole will be: How concerned are Americans with these 3 issues? Very concerned Somewhat concerned Not too concerned Not at all concerned Refused BETTER WORSE SAME CURRENT UNEMPLOYMENT RATE JOB SECURITY FOR THOSE JOB MARKET FOR THOSE LOOKING 32% 27% 41% CURRENTLY WORKING FOR WORK assets.ogilvy.com heldrich.rutgers.edu bls.gov