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The following article was published in our article directory on December 10, 2012.
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The Great Recession: the Economy and its Impact on my US household

Article Category: Career

Author Name: Ken Poirot

Any way you look at it...The Great Recession has had a terrible impact on the US household and the economy as a whole. One only needs to read the unemployment figures to observe how detrimental The Great Recession has been to the average US household and see the real impact on the economy. As of my writing of this story, the US household unemployment figure is sitting at 14.6% – I know this is not the numberthe US government likes to taut in the news – this is closer to the real unemployment figure also tallied by the US government in order to gauge the economy – it is called the U6 unemployment number. This number is a closer unemployment estimate due to the fact it takes into account the people who have given up looking for work as well as those who are underemployed.

Below is an excerpt from my personal story I wrote for the Motley Fool, showing how The Great Recession had a tremendous impact on my personal US household – which is now only me. You can read the full story "Coming Back From 'The Great Recession' – Empty Walls and Lonely Nail Heads" by going to my web site and clicking on the link there.

Like many of you out there reading this right now – the last four years have been filled with personal stories of hardship, heroism, despondency, utter despair, and if you are lucky, holding friends close and dear for propping you up emotionally, psychologically, and maybe even financially during these very difficult times.

There are links to other stories I wrote for the Motley Fool on my web site - go take a look.

The US Household and the Impact of The Great Recession on the Personal Economy

The ranks of America's poor remained stuck at a record level last year while household income dropped.

The overall poverty rate stood at 15 percent, statistically unchanged from the 15.1 percent rate in the previous year. Economists had expected a rise in the poverty rate for the fourth straight year, but unemployment benefits and modest job gains helped stave that off, the bureau reported. For last year, the official poverty line was an annual income of $23,021 for a family of four. -Bloomberg BusinessWeek News

Yes, the average US household has suffered greatly from the impact of The Great Recession and the affect on the general economy. Who would think one of the richest nations in the world would have 15% of it's citizens living in poverty? My friends overseas are amazed at such figures – no one outside of the US thinks of the average US household as having the possibility of being considered "poor". They are also amazed at our unemployment figures and the terrible health of the US economy. The rest of the world sees us as having amazing lives – you will see this the more you travel to other places in the world – there is a bit of an aura around living in the US and an admiration of our economy. They do not understand the impact of The Great Recession on the average US household.

US household Record Use of Food Stamps Shows the Impact of The Great Recession

A record 46.7 million Americans — or roughly one in five adults – used food stamps in June, the U.S. Department of Agriculture (USDA) recently reported. -The Huffington Post

This to me is the most amazing figure of them all – one in five adults living in a US household are living on food stamps – incomprehensible in such a "wealthy country". This drives home the impact The Great Recession had on the average US household to me.

We have a long way to go to get back to where we were. I am certainly not the only US household to be affected negatively from the impact of The Great Recession and I feel fortunate to have a roof over my head and to have made it this long.

This is also why I chose to join a network and blog on my own - to take control over my own future. Not only have I been laid off and worked for a bank that failed – I have felt the impact of employers demanding more from their workers and the deterioration of the treatment of American workers in the US household.

I had enough and I wanted to work for myself and my own future. Have a way to decrease the impact of The Great Recession on my life and other's lives and never to allow the economy to dictate my destiny again.

Go to my web page, Click on one of the banners at the right or top of this page, and watch the video.

See how you can control your own destiny, time, and earnings – without another negative impact on your US household from The Great Recession or other bad times in the economy.

Take control of your destiny – go to my web site, click on one of the banners, and take control of your own future.

Keywords: Economy, Great, Household, Impact, Recession, The Great Recession, US, US Economy, US Household

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