In the wake of the “Great Recession” of 2007, U.S. News reports that 8.8 million American jobs were lost. Although there is constant talk of an economic recovery, only a fraction of the jobs that were lost have come back. In July 2010, CNN Money claimed it is possible that nearly eight million of those lost jobs might be gone forever.
Interestingly, in that same article, it was stated that the hiring rate would have to double each month until July 2013 before the unemployment rate would decrease to pre recessionary levels. At the time the article was written, the U.S. unemployment rate was 9.5 percent. By July 2013, the unemployment rate had only decreased to 7.4 percent, which is still 2.9 percent higher than it was during 2007.
While the economy has recovered to the point where millions of Americans had returned to work, the fact is that most of the recently unemployed are now working in entirely different industries. However, instead of earning the 50,000 dollar salaries they were prior to the recession, most have had to settle for being paid an hourly wage in low level service jobs. Sure, people might be going back to work, but things are hardly getting back to normal.
For American families, the most obvious impact of the recession and subsequent recovery is that there is less money to spend. Thus, more families have been turning to online family coupons and codes to save on everything from groceries to entertainment. Among the most popular friends and family coupons and promotions are for groceries.
When it comes to saving money, groceries might be the most challenging area to save. While you can easily cut entertainment expenses and luxury purchases, families have to eat. Thus, if a family can simply go online and print free family coupons for food, they will be saving that much more. By saving money here and there, there will obviously be more money to spend on non essential entertainment items.
As a result of the so called “Great Recession,” many American families have become more conscious of how much money they are spending and how they are spending it. When money get really tight, it is frightening to eliminate unnecessary purchases and still have to pinch pennies to pay for heat, water, and groceries. For this reason, hundreds of thousands of American families depend on family coupons to make ends meet.