Since Great Recession, More Working Families in Poverty

[Omaha Steve]

http://www.inthesetimes.com/working/entry/6793/since_great_recession_more_working_families_in_poverty/

Tuesday Dec 21, 2010 10:57 pm

By Akito Yoshikane

A new report details just how difficult the Great Recession has been for working families as more than 1 out of 3 households earned 200 percent less than the poverty line in 2009. The low-income threshold for a family of four last year was $43,512.

During the Great Recession, between 2007 and 2009, the unemployment rate grew to its highest level in 25 years. With many Americans losing their jobs, the number of low-income families grew to 10 million in 2009, a quarter million increase from the previous year. The findings come as income inequality continues to grow, a grim reminder of how many working families are struggling to pay the bills with stagnant wages.

“The plight of these families now challenges a fundamental assumption that in America, work pays,” the report said.

The findings were based on recent U.S. Census data and published by the Working Poor Families Project, a nonprofit group that advocates for low-income people.

Although economics have declared an end to the greatest downturn since the 1930’s, the poverty level has been increasing for three consecutive years, according to the Census. There were 43.6 million people living in poverty in 2009, the largest number since the Census began taking the data 51 years ago. The Working Poor Families report says that since the recession began in 2007, more than 55 percent of America’s labor force has been affected by joblessness, reduced hours or were relegated to part-time work. The report writes:

“When the recession hit, many working families joined the ranks of the unemployed or dropped out of the workforce altogether. Others continued to work but saw their incomes drop as businesses tightened their belts. The recession has been especially hard on men, who were more highly concentrated in the depleted manufacturing, construction and financial sectors.”

FULL story at link.

[ZombieHorde]

1. We knew this was going to happen, but it still sucks. nt

[Name removed]

2. Deleted message

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[RKP5637]

3. Just simply survival is now the 'American Dream' for a growing number of Americans. n/t