Yo, this economy is a lot less fly than it used to be.
The recession’s latest victim is the bling culture, according to a recent report by the AP.
Low-income urban youths are a lot less focused on designer labels and bling than they used to be as they grapple with job loss and other added hardships from the recession.
This snaps a nearly two-decade trend where people with lower incomes spent disproportionately more money on designer goods than those with higher incomes.
Youth centers serving low-income communities have noticed this shift happening from coast to coast, the AP reports.
"I think there's a definite shift — our young people are looking more closely at how much labels cost. I think that's causing them to rethink where they're directing some of their money," said Greg Morris, program director at The Door youth center in Manhattan.
Adolescents are typically worried about their appearance, something that's exacerbated by poverty, Morris explained. And that's what used to dominate the chatter around the center.
Now, they're more worried about finding jobs since they're often the first ones laid off in a crisis. They're talking about the fact there just aren't the opportunities there used to be and where they're going to need to cut back, he said.Page 1 of 3 | Next Page