Different Age Groups, Different Recessions

Different Age Groups, Different Recessions

The economic downturn has affected different age groups in different ways, a new report from the Pew Research Center's Social & Demographic Trends project finds. Based on a recent survey of nearly three thousand American adults, the report, Different Age Groups, Different Recessions (24 pages, PDF), found that older adults (age 65 and older) were less likely than younger (18 to 49) and middle-aged (50 to 64) adults to say that in the past year they have cut back on spending, suffered losses in their retirement accounts, or experienced trouble paying for housing or medical care. In contrast, about three-quarters of middle-aged adults and two-thirds of younger adults said that the current economic problems will make it more difficult for them to retire.