Debt-induced stress continues for many Americans
WASHINGTON — The economy trudges ahead yet debt dogs many Americans, stressing them out even as they firm up their own financial foundations.
There are new jobs produced but old worries persisting for people despite belt-tightening and boosted savings, according to an Associated Press-GfK poll.
About 46 percent of those surveyed say they’re suffering from debt-related stress, and half of that group described their stress as “great deal” or “quite a bit.” On the other hand, about 53 percent say they feel little or no stress at all.
That’s in line with findings from last year, even though times seem better today: The economy is growing and generating jobs, and households have made progress in repairing their financial footing, trimming debt, watching spending and saving more.
It’s a big turnaround from a year ago — a shrinking economy, jobs jettisoned as businesses struggled to survive the deepest recession since the 1930s.
So why aren’t the stressed — and the not-so-stressed — feeling better?
For starters, it just doesn’t feel much like a recovery to many people.
Unemployment is stubbornly high — 9.9 percent. The jobless face fierce competition for work. Those with a job are watching their paychecks shrink…..MORE HEREClick here for reuse options!