AHN Staff New York, NY (AHN) - Because of the economic slowdown, many American employers are planning to cut back on holiday expenses, but not on Christmas parties. Aside from being an annual tradition, employers said the Christmas party is their way to show appreciation for their staff , while others said the tough times gives them more reason to hold a party during the Yuletide season.
Barely three months to Christmas, the mood across the nation is turning for the worse, according to a USA Today and Gallup survey. The number of Americans who believe the country is already in a state of recession has gone up to 33 percent from only 12 percent 10 months ago. The survey covered over 1,000 adults polled over the weekend.
Another 73 percent said they believe conditions will worsen first before any improvement comes, and that they expected tax hikes and worry about their inability to save for retirement or maintain their standard of living. Almost 50 percent fear their homes would depreciate in value, while 20 percent are seriously considering withdrawing their investments from the stock market.