Economic Insecurity, Mental Health, And the Economic Crisis in New York City (Report)

Background After almost a decade of steady growth in employment, housing prices, and consumer credit, the United States, along with other global economies, experienced a sudden and massive economic downturn beginning in 2008. According to economist Nuriel Roubini, this was largely the result of unregulated lending, the accumulation of toxic assets in the housing sector, and excessive debt-driven consumer spending (Martin & Schaffler, 2008). As in any time of economic uncertainty, Americans worry about their economic security, particularly their employment status--that is, whether they can keep jobs, find jobs, or will become underemployed.