Black America’s Answer to Recession: Practicality and Prudence

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.