Index shows consumers still worried about recession in 2010

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Index shows consumers still worried about recession in 2010

Wednesday, Jan 6, 2010
By Lance Piper

The most recent recession may have caused some consumers to find debt relief, while a recent survey shows that people are still concerned about the future of the economy.

According to an index put out by Wealth Hazards, 40 percent of respondents feel as though the country could enter into another recession in 2010. Furthermore, 32 percent of those polled weren't sure if the nation could fall into another recession, while28 percent said that a recession was not in store for the U.S. this year.

"Specifically, people are anxious about the high rate of unemployment, rising interest rates, price inflation, more foreclosures, and flat wages or even wage deflation as employers bargain hunt for new employees," Thomas Hertog, editor of Wealth Hazards, said.

Currently the unemployment rate sits at 10 percent, though some analysts expect it to rise above that level. For most of 2010, experts believe that the jobless rate will remain at or above 10 percent.

Hertog said that though government
programs helped keep the economy together and promote the beginning of a recovery, many respondents to the survey are worried about the effect the expiration of those efforts will have on their situation.

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