How will we view careers, retirement, professional development post Recession?

Survey responders’ level of education: 48.1% graduate college, 42.0% Masters/post graduate degree

Although 28.5% had continuous employment during the recession, 47.0% were unemployed at some point during the recession, with 21.9% having a family member unemployed.

51.2%: currently employed full-time

25.9%: not employed, but looking for work

14.2%: self-employed

5.6%: employed part-time

This question still needs more analysis. 52.8% are worried about retirement but only 28.5% had continuous employment. How that impacts post recession is anyone’s guess. What do you think? There’s plenty being written about this subject.

How are professionals in the mid-to-upper class responding to the American Dream?

60.2%: I am worried about the future of our country

59.6%: I appreciate what I have more than ever

52.8%: I am worried about retirement

51.6%: I feel more pessimistic about my future and the future of my family

49.7%: I am forced to do more with less

46.6%: I worry about my children’s future

41.0%: I think middle class life has become unaffordable

40.4%: I worry about my financial situation constantly

Worry, Worry, Worry

Appreciate, pessimistic, unaffordable, finances, future

How will this Great Global Recession impact the future of the American Dream?

53.5%: The recession has changed their belief in the American Dream

46.5%: The recession did not change their belief in the American Dream

79.6%: The recession had some or a very large impact on their immediate family’s financial situation

Only 3.7% had no impact from the recession on their financial situation

When the survey was taken, about half of the responders felt there was a negative impact to their belief in the American Dream.

During the Great Depression, the impact was felt for over ten years. We’re in year three of the Great Recession. What about the future of the American Dream now?

How are different generations reacting and responding to the American Dream?

Survey responders: 

50.0%: age 40-55, 1956-1971

28.4%: over 55, 1956 or before

19.1%: age 25-40, 1971-1986

This survey predominantly reached Baby Boomers and GenX.

-Baby Boomers (post WW11 to 1960s) and some Generation X (mid-1960s and the '70s up through the early '80s)

- Generation Y also known as the Millennial Generation (1980-2000)

Question 5 asked about the children:

How likely is it that your children will achieve the American Dream?

32.1%: Somewhat likely

24.1%: Very likely

18.5%: Somewhat or very unlikely

25.3%: Have no children

The survey met this question’s goal on generational views.

What is today’s definition of the American Dream?

57.5%: Opportunity – ability to achieve through education and hard work

17.5%: Liberty – having the freedom to do what you want

13.1%: Stability – having a reliable government who administers justice fairly, free of corruption and takes care of citizen’s basic needs

Opportunity wins. Even with the Great Recession.

What is happening to the American Dream?

79.2% believe the American Dream is within reach

56.2% believe their children will achieve the American Dream

The American Dream is still alive.