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23% of Americans worse off now than before Great Recession: Bankrate.com
A new study finds many Americans still haven't recovered after the financial crisis from 10 years ago. Yahoo Finance's Zack Guzman & Kristin Myers, along with 'Quartz' Tech Editor Mike Murphy discuss with Bankrate.com Senior Economic Analyst Mark Hamrick
Though it's been roughly a decade since the Great Recession plagued Americans and turned their finances upside down, a large number of U.S. adults are still struggling to recover. One in four Americans say that their financial situation hasn't changed since the Great Recession, according to Bankrate, while 23% say they're worse off now financially than they were back then.
Much of the problem boils down to stagnant wages. Although the job market has been relatively healthy in recent years, 54% of Americans say their wages have yet to return to their prerecession level.
Compounding the issue is the fact that we don't know when the next economic downturn will hit. Those still struggling to recover from the Great Recession stand to feel the impact if the economy soon takes a turn for the worse
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