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October 8th, 2009

Survey: Americans Not Giving Up Their Jobs

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These days a good job is worth its weight in gold. So much of the insecurity that’s driving down consumer spending is based off of the uncertainty of the job market.

Last week we reported that the lack of employment opportunities are forcing more Americans than usual to apply for Social Security benefits before age 65. But there’s a flip side of that scenario.

A new poll from Princeton Survey Research Associates International suggests that some Americans are holding onto their jobs as long as they can — even if that means working past the typical retirement age.

The survey found:

• Seventy-five percent of Americans plan to work as long as they can during retirement age.

• Thirty-two percent plan to work because they’ll need the money.

• Fifty-five percent of retirees worry about money and wish they had saved more.

• Thirty-eight percent think they have enough money to retire without worry.

The two sides of this story, although quite opposite, represent the same sense of uncertainty in the job market, and the overall economy as well.

We’ve already heard from one reader who said that her husband was forced to collect Social Security before age 65 due to a lack of employment opportunities. Do any of you plan to work as long as you can, while you can?

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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