What do all of these news reports have in common?
They all show the impact the state of a country’s economy can have on its people. Just as the media can influence the way we act, dress, and even think; the economy can affect what we choose to buy, what we look for in a job, and what our lifestyle will be.
This is essentially what my research project will be about.
Hi! My name is Julia Yeung and I will be conducting research along with Professor Morreale on the impact of the Great Recession on middle class America. The Great Recession, which is also referred to as the Late 2000s Recession began in December 2007 and had a sharp downturn in September 2008. By definition of a recession, it is considered that the recession has ended in the summer of 2009.
But is this really the case?
A recent poll has found that many Americans still believe that the U.S. is in a recession. With the unemployment rate standing at around 9.1%, many Americans still find it difficult to find jobs, despite the news that the economy has made a modest recovery and certain companies have increased hiring.
My research will focus on the extent of the impact the Great Recession has on the middle class’ family income, family stability, and lifestyle. It will also investigate the duration of the impact of unemployment and the differential impact on educational status.
Personally, I find it very interesting to learn and understand more about the “inner-workings” of the recession. I have at first-hand seen the negative impact the recession had on a few of my family members and it has encouraged me to see how the recession impacted others, especially the middle-class as a whole. I will also compare this recession with others that we had experienced in the past and see how does this one differ from others.
I hope you guys will enjoy reading about our findings and be able to gain more of an understanding of what is happening to our country today.
Until next time,