The average middle-class American lost nearly half of their available income during the Great Recession.
Provo, UT (PRWEB) November 30, 2011
CNN Money reported on November 28 that 1 in 5 Americans lost at least a quarter of their available income each year of the Great Recession, leaving them economically insecure. The Economic Security Index, created by Jacob Hacker last year, uses three measurements to rate economic security, which are: major income loss, out-of-pocket medical costs, and a lack of savings. Results of analyzing these factors show that 20 percent of Americans were faced with economic insecurity in each of the three years analyzed during the Great Recession. My Colleges and Careers can help those facing economic difficulties to improve their quality of life by earning online college degrees and qualifying for in-demand, secure careers.
The Economic Security Index was also able to identify specific groups that were affected by the Great Recession. The middle class was affected more than any other income level. The median drop in income for those in the middle class over the time of the Great Recession was 46.4 percent in 2009, meaning that the average middle-class American lost nearly half of their available income in that year. Young adults, ages 18 to 34, were the most insecure of any age group. People living in the South and the West were more likely to be economically insecure, and nearly a quarter of all African-Americans and Hispanics are economically insecure. Education is the best way to qualify for higher-paying, secure jobs. The Index showed that 25.8 percent of households headed by a non-high school graduate faced major economic setbacks, compared to only 15.8 percent of households headed by someone with a college education. My Colleges and Careers provides tools to help students connect with online colleges or universities through which they can earn an online associate's degree, bachelor's degree, master's degree, or Ph.D.
The My Colleges and Careers website has been created to provide optimal assistance to students who are in the process of finding accredited online colleges. Online courses are an excellent option for those who wish to improve their economic situation through enhancement of qualifications. Even those who already work full time and have other responsibilities will be able to fit an online degree into their schedule. The degree-finding tool that is featured on the My Colleges and Careers website will give students information about the schools that offer degree programs in their area of interest. The website also offers other useful tools and information in the form of factual infographics, updates on any news or government policy changes relating to education, and list of top careers and highest salaried careers. The last feature of the My Colleges and Careers website is the online education blog. Blog post authors are professionals from many different industries such as healthcare, education, business, and technology. Articles focus on college- and career-related topics. With the influence of the Great Recession touching almost every American, earning a college degree is one of the safest ways to ensure a successful career and a better future.
About My Colleges and Careers
My Colleges and Careers is dedicated to helping students and prospective students earn their college degrees through online degree programs. Considering that most students have other responsibilities and commitments, My Colleges and Careers can become a great resource for those seeking a way to fit school into an already busy schedule. Through online programs, students can complete their schooling at their own pace. The tools and services offered on the My Colleges and Careers website have already assisted many students in completing their education and starting a successful career.