Recession and Bankruptcy

| Jul 26, 2010 | Bankruptcy |

A recent article was written listing statistics about the recession and bankruptcy filings.  It seems that  the outsourcing of many U.S. middle class jobs has led to an uncomfortable separation between the socio-economic classes in our country.

83 percent of all U.S. stocks are in the hands of 1 percent of the people.  61 percent of Americans “always or usually” live paycheck to paycheck.  That is up from 49% in 2008 and 43% in 2007.  A staggering 43% of Americans have less than $10,000 saved up for retirement.  24% of American workers say that they have postponed their planned retirement age in the past year.
Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32% increase over 2008.  A big reason for that was the staggering unemployment rate.  The article noted that the average time needed to find a job has risen to a record 35.2 weeks.