Repairing the Damaged Nest Egg: How to Improve the Retirement Outlook of the Unemployed & Underemployed
Amid signs of economic recovery from what is commonly referred to as the Great Recession, the unemployment rate has fallen from its highest level of 9.6 percent in 2010 to 7.4 percent in July 2013. Yet the fact remains that as of July 31, 2013, the U.S. Bureau of Labor Statistics reported that 22.1 million Americans or 14.2 percent of the workforce are unemployed or underemployed.
Repairing the Damaged Nest Egg: How to Improve the Retirement Outlook of the Unemployed & Underemployed examines the negative impacts of their situation on their retirement savings. It sheds light on ways to get back on track and improve their long-term prospects.
The report is based on a 2013 survey of 610 workers who are either unemployed or underemployed (e.g., accepting a job requiring lesser skills and/or pay to generate income). It is part of the 14th Annual Transamerica Retirement Survey.