recession

Who Weathered the Recession the Best?

Posted on 07/3/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMany Americans are still reeling from the last recession, although the oldest among us weathered the economic decline better than other age groups. That’s according to a recent report by the Census Bureau that looked at how Americans ages 65 and up fared during and after the 2007-2009 recession. These older consumers were somewhat buffered by more conservative investment strategies as well as high homeownership and a resistance to squeezing all equity out of their property by refinancing. It wasn’t …

Jobs Are Coming Back … But How Well Do They Pay?

Posted on 04/29/2014 by |Money and Work | Comments

Bulletin Today | WorkFirst the good news: Millions of jobs that were lost during the Great Recession seem to be finally coming back. Now the bad news: Most of those newly created  jobs are low-paying ones in fast-food restaurants, retail stores and temporary administrative services —  industries that are less affected by an economic downturn, according to a new report by the National Employment Law Project, a research and advocacy organization. Today lower-wage industries employ 1.85 million more workers than at the start of the …

Rate Reset for Some Homeowners May Trigger Defaults

Posted on 03/12/2014 by |Money and Work | Comments

Bulletin Today | Money & SavingsThe home foreclosure crisis that swept through the nation during the Great Recession may not be over for thousands of troubled borrowers. Some homeowners who sought help from the government’s Home Affordable Modification Program (HAMP) are about to see their mortgage payments rise this year. In some cases, those payments could eventually go up by more than $1,000 a month, according to the Washington Post. The loan modification program lowered monthly mortgage interest rates for some 1.3 million at-risk homeowners …

Jobs Poll: Things Are Better … but Not Good

Posted on 12/4/2013 by |AARP Blog Author | Comments

WorkOnly 15 percent of Americans age 45 or older looked for a job in the past year because of employment uncertainty, according to our AARP Bulletin poll published in September. It has been six years since the start of the Great Recession, but people are still uneasy about their current jobs. Confidence about job stability has improved since 2009, but fewer than half of those polled feel that their jobs are stable (49 percent now versus 39 percent in 2009). …

Blurred Lines of the Budget Debate

Posted on 10/24/2013 by |AARP Media Relations Team | Comments

PoliticsThe title of the undisputed hit song of this past summer, before the government shutdown, Blurred Lines,* lacks a reference to Congress (or rest assured it would have been a dud). But it captures what politicians and others in Washington have done in the hopes that voters don’t catch them causing damage to our lives and the broader economy. Sign up for the AARP Money Matters newsletter Last week economist and former Obama administration official Jared Bernstein wrote in the …

Dear Abby Weighs In on Older Workers Debate

Posted on 09/9/2013 by |Money and Work | Comments

WorkThe debate over older workers staying on the job longer, and crowding out younger employees, won’t go away. In a recent Dear Abby column, “Disgusted in Columbus, Ohio,” blasted older workers for hanging onto their jobs “so they can live lavish lifestyles” at the expense of younger workers who don’t advance in the workplace, or worse, get laid off. Yet as Dear Abby pointed out, many older adults stay on the job these days just to survive.  During the financial crisis and …