Saturday, March 14, 2009

Half of Americans will run into financial problems after not getting a pay check for 4 weeks

According to a study released by Met Life, 50% of Americans are just 2 paychecks away from not being able to meet their financial obligations. The data also shows that the youngest workers (Gen X & Gen Y) are most likely to run into financial difficulties with-in 4 weeks of losing their jobs.

This data is sobering and reinforces the negative feedback cycle---As more people lose their jobs, more people are cutting their spending and getting foreclosed on their homes---this causes more companies to lay-off more people.

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