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- Awarded Scholars:
- Signe-Mary McKernan, Urban Institute
- Caroline Ratcliffe, Urban Institute
According to recent estimates, over 60 percent of U.S. households experienced a decline in wealth during the Great Recession. High rates of unemployment meant that many families could not make mortgage payments and lost their homes, and even those able to keep their homes saw their value plummet.
Tagged: - Awarded Scholars:
- Sheldon Danziger, University of Michigan
- Fabian Pfeffer, University of Michigan
- Robert Schoeni, University of Michigan
According to the Federal Reserve, U.S. households lost approximately 25 percent of their aggregate wealth between the end of 2007 and the middle of 2009, when the Great Recession was officially declared at an end. Since then, about half of that lost wealth has been rebuilt, as equity markets have bounced back and households have increased savings and reduced debt.
Tagged: - Awarded Scholars:
- Hilary W. Hoynes, University of California, Davis
- Patricia M. Anderson, Dartmouth College
- Diane Whitmore Schanzenbach, Northwestern University
- Kristen F. Butcher, Wellesley College
Access to adequate food is critical for health and well-being, and lack of food may have lasting consequences for health and development, especially for children. Since 2000, rates of poverty and food insecurity in the U.S. have been rising, and both spiked dramatically in 2008 with the onset of the Great Recession.
Tagged: - Awarded Scholar:
- Scott Allard, University of Chicago
Data tabulated by the U.S. Census shows that poverty rates have jumped by 2.6 percentage points since the onset of the recession, rising from 12.5 percent in 2007 to 15.1 percent in 2010. Although the annual rate of 15.1 percent is the highest rate since 1983, growth in the U.S.
Tagged: - Awarded Scholars:
- Heidi Hartmann, Institute for Women's Policy Research
- Jeffery Hayes, Institute for Women's Policy Research
- Robert Drago, Institute for Women's Policy Research
In the early part of the Great Recession, men became unemployed at higher rates than women, which lead to a substantial focus on the impact of the recession on men and terms like "the great mancession." This focus on men's unemployment overshadowed the fact that during the recession women continued to earn less than men and remained more likely to fall into poverty.
Tagged:
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