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Autoworkers – 55% forced to ask family and friends for financial help three years after layoffs

Three years after losing their jobs, laid off autoworkers continue to struggle financially and personally, a new CAW  report says.

The second round of findings in  the CAW’s three-year study of laid-off auto workers, found that 55 per cent of the 260 workers surveyed,  have been forced to ask family and friends  for financial help  to pay their bills.

The Worker Adjustment Tracking Study — a joint effort with McMaster University in Hamilton –  also  found that  reliance on temporary employment agency work has risen over the study period, with about 30 per cent of all workers reporting temporary employment.

Of those surveyed, 63 per cent said they were worried about paying their bills; 40 per cent had difficulty meeting debt obligations and nearly half said they had done without something they needed in order to pay their rent or mortgage.

“Many workers, including those currently employed, report a financial debt legacy associated with their layoffs that continues,” the report said.

“This includes ongoing repayment of loans from family and friends, credit card debt, depleted savings and retirement funds, and financial losses associated with the sale of family assets such as homes and vehicles.”…

via Autoworkers still struggle three years after layoffs, says study | Windsor Star.

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Discussion

3 thoughts on “Autoworkers – 55% forced to ask family and friends for financial help three years after layoffs

  1. i think to write in blogs, you have to be very focused on what is the main subject and the rest comes casually.

    Posted by Clesisniara | July 13, 2012, 4:21 pm

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  1. Pingback: Union wants automakers to invest « Job Market Monitor - August 14, 2012

  2. Pingback: Continental Ag – To create 7,000 new jobs | Job Market Monitor - March 18, 2014

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