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FOR MANY, Economy Spawns Fears About Retirement Savings, Loss of Job, Inability to Make Ends Meet!


A long time ago - back in the 1970's or so - growing up on the North Side of Chicago, my brother Randy and I had a way to greet each other, as well as our friends -

"How you hangin?"

Well, these days, in today's tough economy, ask people that same questions, and many are likely to say, "Not so good!"  Fear over the short term future is very high!

In an Associated Press-GfK Poll, conducted between February 12-17, and as summarized by Associated Press Reporter Darlene Superville on, February 19, 2009, almost 1/2 of those surveyed - 47% worry at least somewhat about losing their job.  That's up from only 28% one year ago.  Seventy-one percent said they knew someone who lost their job within the past six months.

Higher-income wage earners were just as likely to fear loss of employment.  Indeed, 47% of those earning $50,000 or more worried about loss of job last month, versus the 20% of those who earned that much or more, and feared the same fate one year ago.

Other key stats from the survey -

- Today, 65% of respondents are worried about keeping current on their bills, up from 46% this time in 2008.

- 69% of those surveyed last month felt the value of their investment and stock portfolios will go down, versus 59% one year ago.

- 53% aren't confident they will have enough income for a comfortable retirement.  That's up from 34% three years ago, in February, 2005.

62% of those surveyed believe President Barack Obama is trying to cooperate with Congressional Republicans to solve the country's economic problems.  On the flip side, 64% feel the House and Senate Republicans are not doing enough to cooperate with the President.

47% of those surveyed did not feel last year's $700 Billion Financial Industry Bailout had any meaningful impact on the economy.  32% of survey respondents actually believed the bailout made things worse.

Superville's AP Story quotes several employees discussing their fears over their continued employment prospects, as well as their own reflections on their economic struggles.


Posted: Sunday, March 01, 2009 7:26 PM by Dean's Team

Comments said:

Good Morning! According to an Associated Press/GfK Poll conducted last month, consumer anxiety over possible

# March 1, 2009 11:29 PM
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