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Young boomers feeling recession crunch

Adults, age 45 to 54, are taking longer to recover from the down economy, according to research conducted by the market research firm Mintel.

By Amanda McGrory-Dixon | Updated on January 20, 2011

Adults, age 45 to 54, are taking longer to recover from the down economy, according to research conducted by the market research firm Mintel. Of that segment, 47 percent, compared to 33 percent overall, say spending has only been on necessities for at least a year, and 51 percent of this age demographic, versus 44 percent overall, say they plan to permanently reduce the amount of unnecessary items purchased in the future.

Thirty-nine percent also say they are more concerned about retirement than ever.

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