Friday, July 23, 2010

Americans' economic insecurity at 25-year high

(MarketWatch) -- Insecure about your finances? You're not alone. Economic insecurity in the U.S. is at its highest point in 25 years, according to a report released late Wednesday.

Almost one in five Americans are estimated to be insecure in 2010, compared with less than one in eight in 1985, according to the report from the New York-based philanthropy Rockefeller Foundation, and Jacob Hacker, a political science professor at Yale University.

"There is a clear long-term upward trend in the economic insecurity of American families," Hacker said in a statement.

"And while economic insecurity is substantially higher for less affluent and educated Americans than for other groups, it has risen across virtually all parts of American society -- it's an issue squarely confronting the American middle class." (more)

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