The economic downturn impacts older immigrants, who may not have the financial security or resources to mitigate the effects. This project examines the effects of the economic downturn on elderly Chinese immigrants using a survey gauging the effects of the recession on their life and their worry about the economy. The participants were aware of the recession and they spent less and halted investments. Their economic situation seemed to have worsened or remained unchanged. Gender, education level, self-rated financial adequacy, and worry about family’s quality of life were significant correlates of worry. Those with a higher level of worry were female, had higher education, and were less financially adequate. Worry about family’s quality of life is the most important correlate.
- Economic downturn
- Older adults