47 million Americans say they are worse off financially than before the Great Recession: survey

Forty-seven million Americans said their financial situation was worse than before the Great Recession, according to a new Personal Finance website survey Bank rate.com.

Only 51% of respondents said their financial situation improved compared to their situation before the collapse of the global market more than ten years ago. The survey found that people with lower income or education levels were more affected, as these groups were more likely to say that their current financial situation was worse than before the Great Recession. Nineteen percent of men said their overall financial situation was worse than before the recession, while 27% of women said they were worse off.

"The echoes of the Great Recession remain very present in the financial life of many Americans, despite the improvement of the economy at large", Bank rate Chief Economist Mark Hamrick said in a press release announcing the results of the investigation. "Although some have managed to prosper over the past decade, tens of millions of people are still struggling to regain their state before, before the economy deteriorates."

While standard economic indicators, such as employment growth and unemployment, offer a relatively positive image of the economy, Bank rate The survey describes a different scenario. For two months, the country's unemployment rate was 3.6%, the lowest rate in 50 years. Employment growth has increased for 104 consecutive months. And some recent months have seen remarkable growth in employment. In March, 153,000 jobs were created and in April, 224,000 jobs were created. The president, who has campaigned on its ability to stimulate the economy, regularly boasted economic indicators during rallies.

"While the current economic expansion is about to establish a record of duration, there will be a slowdown at some point, we simply do not know when." Hamrick I said.

The results provide a sobering reminder of the lasting impact of the global financial meltdown that occurred more than a decade ago, despite the positive growth figures currently being posted. During the acute phases of the economic crisis, US households lost nearly $ 5,800 in revenue, according to The Pew Charitable Trusts. Between July 2008 and March 2009, real estate wealth declined by $ 3.4 trillion across the country. Inventories have fallen and slower economic growth has resulted in the loss of millions of jobs.

Although the indicators show positive growth in the US economy, analysts fear that Trump's trade war with China, which intensified last month, may slow global growth.