Americans turn to the web for help during recession

07.20.09
By Lewis Green

The internet can be a handy tool when looking for information and finding news, but a new report finds that it has been especially helpful for Americans searching for everything from debt relief and home loans to a new job.

A new study from the Pew Internet & American Life Project finds that 88 percent of internet users in the U.S. have gone to the web to get information about the economic downturn and discover ways to save money.

And while the study finds that internet users are going online to get news about the financial crisis or to look for bargains, many are also creating their own content about the current economic climate.

The report finds that 34 percent of what it calls "online economic users" have written about the state of the economy on social networking sites like Twitter or on blogs.

Aaron Smith, research specialist at Pew Internet says the results of the survey show that people are using as many outlets as they can to help navigate their way through tough economic times.

"The best way to understand these online Americans is that they are networked individuals using networked information," he said. "Theirs is not an 'either-or' world of single information sources. Many aggressively forage among a variety of sources and communicate with a range of people as they try to navigate some rough seas."

According to the study the most popular subject these internet users looked for related to saving money with 67 percent comparing prices for purchases and another 40 percent looking for coupons online.

However, even the hardest hit turned to the web as an outlet as 13 percent reported using the internet to look for loans, and 3 percent searched for information on filing for bankruptcy.

It would appear that the number of Americans turning to the web to look for work is likely to continue increasing as the latest figures from the government put the unemployment rate at 9.5 percent.

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Many Americans are turning to the web for answers about the economy