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The Middle Class Family and The Recession

Middle class families have really found themselves on the wrong side of the economy after the recession hit the western countries and the rest of the world. The socioeconomic statuses of these families have changed for the worst though it seems that it is going to take a while before life comes back to normalcy. A social class is rated in terms of some important variables which include, the level of education, the income capabilities and the occupations they take up in the social world not forgetting the wealth the family has accumulated. Considering this, the economy following the great depression as had a great impact on the families especially in the psychological aspect. The global economic crisis has sparked mixed feelings and psychological problems on the various classes of people more especially the middle class who are either laid off from their duties or are totally unemployed. Following the recession, there was widespread losing of jobs by most people. At the beginning this ...