Tagged: Great Recession

This is one of the defining graphs of the past few years.

With typical restraint, Business Insider calls it THE SCARIEST JOBS CHART EVER. It shows how brutal the recent recession was, and how horribly slow the recovery has been.

According to a new analysis of 2011 Census figures – a higher percentage of Coloradans are living in poverty than in 2007, before the economic recession began. Poverty rates in northern Colorado have remained steady.

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

In a study (pdf) released today, the Federal Reserve reports that Americans saw a record drop in their wealth between the years 2007 to 2010. Driven primarily by plummeting home values, families' median net worth dropped 38.8 percent, to levels last seen 18 years ago.

Reuters reports: