According to a new analysis of 2011 Census figures – a higher percentage of Coloradans are living in poverty than in 2007, before the economic recession began. Poverty rates in northern Colorado have remained steady.
In a study (pdf) released today, the Federal Reserve reports that Americans saw a record drop in their wealth between the years 2007 to 2010. Driven primarily by plummeting home values, families' median net worth dropped 38.8 percent, to levels last seen 18 years ago.
Ida Christian, who suffers from dementia, gets help from her granddaughter, Yolanda Hunter (left), in blowing out the candles on her birthday cake. Yolanda quit her lucrative job to become Ida's full-time caregiver.
The Great Recession slammed into all age groups, flattening the career dreams of young people and squeezing the retirement accounts of middle-aged savers. It financially crippled many elderly people who had thought they could stand on their own.