The Great Recession
Hard Times Have Hit Nearly Everyone —
And Hammered the Long-term Unemployed
22 Jul 10 Long term unemployment takes a heavy toll not just on people’s finances, but also on their emotional well-being and career prospects, according to a new Pew Research Center survey of workers who have lost jobs since the Great Recession began in December 2007. The long-term unemployed are more likely than the short-term unemployed to have lost income, lost contact with close friends, suffered strains in family relations, lost some self-respect and lost confidence in their career prospects.But they're not the only ones hurt by the recession. A June 30, 2010, Pew Research report based on the same survey found that more than half (55%) of all adults in the labor force say they have suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers since December, 2007. The Great Recession has also led to a new frugality in Americans' spending and borrowing habits; diminished expectations about their retirements and their children’s future; and a concern that it will take years for their family finances and house values to recover.
Latest Report: Attitudes, Experiences, and Demographics of Long-term Unemployed


















