In telephone surveys, more than twice as many African-Americans ages 45 and older reported having trouble paying their mortgage or rent, having to cut back on medications and having borrowed money to pay living expenses in comparison to the general population.
Twice as many blacks also reported losing a job and having a spouse who either lost a job or had to take a second job. Nearly twice as many blacks had difficulty paying for essential items such as food and utilities.
These older, established black workers also lost their job-based health coverage at higher rates, were more likely to raid their retirement savings prematurely and provide financial help to their parents and children more often than their age-equivalent peers, the survey found.
The data reinforces what many experts have said for months: that the recession is really a depression for many blacks, particularly in areas where black unemployment has surpassed or hovers around 20 percent.
AARP Vice President Edna Kane-Williams said the disparities reflect the tough circumstances and tough choices blacks are making to survive the economic downturn.
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Source: TONY PUGH, McClatchy Newspapers
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