Recession has made Americans to turn to internet

88 percent of the U.S. internet users, which comprise of more than two-thirds of American adults, went online for help with personal economic issues caused due to recession and to gather information and understand the national economic problems, according to a study conducted by Pew Internet & American Life Project. "People are anxious about these hard times. They are more information-hungry than in normal times," said Lee Rainie, Director of the nonprofit group and co-author of the report. The report also claims that 79 percent of Americans are internet users.

Based on the interviews conducted with 2,253 adults, the report says that almost 52 percent of American adults have either lost their jobs, seen their investments fall by more than half their value, suffered a pay cut or watched their house lose half its value during the downturn in the past year. Many U.S. companies have sacked huge number of employees and the unemployment rate hit 9.5 percent, the highest in nearly 26 years.

The study also says that the internet ranks high among sources of information and advice that people are seeking during hard times, especially when it comes to their personal finances and jobs. "That is a large number of those who are exploiting the Internet to participate in the roiling online discussion about how we got into this mess and how we are going to get out of it," Rainie said. Overall, 34 percent of online economic users have expressed themselves about the recession in places like blogs, social network sites and Twitter, the study reported. The more traditional way of talking with family and friends for advice and support has continued as well.

However, broadcast outpaced internet as source of news about national economic affairs. The report also states that the top three recession-related activities of these users were price comparisons, a general understanding of the economic downturn and new jobs. Around three percent of users searched on the Internet for information about filing for bankruptcy.