Some teens aware but are shielded from recession
By Sandra M. Jones | Tribune reporter
December 21, 2008
Recession? "What's that?" said shopper Jordan DiGrazia, 18, when asked how the recession has affected her.
While most of the U.S. economy has been battered by the downturn, the $127 billion teen economy is holding up well, and some retailers catering to their fashion tastes are even growing.
From jeans to shoes to iPods and cell phones, teenagers—especially those from higher-income households—seem to have the will and resources to do what much of America has been avoiding: shop.
The last time the U.S. was in a recession in the early 1990s, most of today's teens weren't born. They grew up in a world flush with $4 Starbucks, gas-guzzling SUVs, McMansions and, often, indulgent parents. And that world has remained mostly intact, as if in a protective bubble.