Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Why is everyone saying how desperately we need to save money “in this economy”?
I would add to the other excellent answers that another factor besides just high unemployment numbers is the fear people have regarding the "financial" aspects of the country, that is the value of stocks and the value of the dollar.  When the economy is sluggish it means people aren't buying enough, therefore companies aren't making enough, therefore their profits are too low and people start to divest from them, and stock prices drop.  Or even the fear of this happening can induce people to sell off shares.   The point is, people are worried "in this economy" because if--due to unemployment, low spending/consumer confidence--the stock market crashes again as it did in 2008/09, that represents a lot of savings lost, e.g. 40-50% of what one was counting on to retire with, particularly if you panic sell at the bottom.  Now suddenly it's as if you had a huge robbery, and you will have to work longer into your retirement years than you'd planned.  Similarly, if, due to monetary policy, the U.S. inflates the dollar, what one saved for retirement may not be sufficient.  (These arguments are true for shorter periods than just one's retirement, but just taking that as an example). So it's not just unemployment that is worrisome "in this economy".  This said, I agree with George Marian that one ought to be careful and plan well regardless of the winds of the economy.  I guess for most people (and companies), though, "in this economy" means they can't get away with the kind of carelessness they might have during a boom.