Black America’s Answer to Recession: Practicality and Prudence

Black Enterprises exclusive survey reveals how youre handling the economic downturn

includes looking for a part-time job in addition to their current work. With layoffs spreading to all levels of company hierarchies—and in a variety of industries—employers may be looking for part-time help to fill income voids.

Better times ahead: The financial crisis hasn’t sapped optimism. Over 45% of our respondents believe the U.S. economy will get better in the next two years while 34% believe it will get worse.  The BE audience, therefore, seems to be a bit more optimistic about the future than some economists and other observers who see America going into decline after years of investing too little and spending too much.

Regardless of what the future may hold, survey respondents generally are on the right track. They are prudent, practical, and looking forward to brighter days ahead. They’re spending less on nonessentials, paying down debt, and looking for extra income. The next step, once those debts are under control, may be to rebuild IRAs and 401(k) accounts–and tiptoe back into the stock market.

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  • http://www.hefreemanenterprises.com Harrine Freeman

    Excellent article.

  • http://www.squidoo.com/flipmodepropertiesllc simone

    I believe it is time for all of us to find our gifts and share them with the world. Most of the readers are looking to make extra money but I believe this is the time to look inside and create the life that you want. Now is the time.

  • Lindarc

    Hard times are not new to black people. We will survivie this, as we survive every hardship in this country. But this time we will come out on top. Learn your investment lessons; build businesses (check out the new site AFFINITY.com or .org-never seen anything like it.) This concept blew my mind and it works.

    Take care my people.