Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Back to General Discussion

Losing A Job In A Recession Costs $112K

Tuesday, September 20, 2011 - 11:02 AM
From TheStreet
Losing a job is never easy, but a new study shows how much worse it can be in a tough economy.

Workers who become unemployed during a recession see their earnings drop by roughly $112,000 over the following 25 years compared with what it would have been, a total wage loss of roughly 19%, according to a report out this month from the Brookings Institution. By comparison, those who lose their jobs when the economy is growing suffer just more than half that wage loss, or about $65,000 over 25 years.

Read more...
2
WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
Reply