A decade ago, the US economy came crashing down.
On Sept. 29, 2008, the stock market suffered a historic crash. Millions of people lost jobs, millions of people with mortgages lost their homes, and the government began bailing out failing institutions. The environment created by this economic loss would form the foundation for the millennial generation, who came of age in the aftermath of the Great Recession.
A decade has since passed. Millennials grew up — the oldest are approaching their forties — and overall, things have improved. Unemployment rates have fallen to a low 3.9% from a painfully high 10% in October 2009, the housing market has rebounded in many places, the stock market is on a tear, people are spending more. But the recovery has flaws: Many of the jobs created over the last decade don’t pay a livable wage, and economic inequality in the US has grown.
Many people continue to feel the lingering effects of the Great Recession. Some are still paying off staggering debt, some are living with ruined credit scores, others have been unable to obtain high-paying jobs. How were you impacted by the economic crisis, and how does it affect you today? We’d like to hear your story.
