2021 update: Half of America in or near poverty

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    • #405821
      eridani
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      • Total Posts: 7,887

      https://www.nationofchange.org/2021/02/22/2021-update-half-of-america-in-or-near-poverty/

      The Washington Post summarizes: “According to Nielsen data, the American Payroll Association, CareerBuilder and the National Endowment for Financial Education, somewhere between 50 percent and 78 percent of employees earn just enough money to pay their bills each month….[this was] before the coronavirus pandemic….[since then] the number of first-time unemployment claims has exceeded 1 million per week, an unprecedented number in U.S. history.”

      There’s much more evidence of Americans in trouble. An NPR review states that “survey after survey for years has found that most people in the U.S. live paycheck to paycheck.” One of these is a survey reported by CNBC, which concluded that “63 percent of Americans have been living paycheck to paycheck since Covid hit.” Both Schwab’s 2020 Modern Wealth Survey and a recent Harris Poll found that a sizable majority of Americans are suffering financial stress during the pandemic. The American Psychological Association concurs. In Bankrate’s latest polling numbers, 6 out of 10 Americans would be unable to afford an unexpected $1,000 expense.

      With month-to-month survival preoccupying most Americans, retirement savings are far beyond reach. Schwab’s Wealth Survey found that Americans need a net worth of $655,000 to be “financially comfortable.” According to Credit Suisse, NOBODY in the bottom half of North America has more

      Official unemployment figures inspire skepticism when ’employed’ is defined as working just ONE HOUR per week. A realistic portrayal of living-wage employment is provided by the Ludwig Institute for Shared Economic Prosperity, which considers part-time workers, those working full-time but earning too little to climb above the poverty line, and discouraged workers who’ve stopped looking for unemployment. As of December 2020, a full 53.9 percent of working-age Americans did not have living-wage full-time jobs.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #405861
      Haikugal
      Moderator
      • Total Posts: 2,074

      Official unemployment figures inspire skepticism when ’employed’ is defined as working just ONE HOUR per week. A realistic portrayal of living-wage employment is provided by the Ludwig Institute for Shared Economic Prosperity, which considers part-time workers, those working full-time but earning too little to climb above the poverty line, and discouraged workers who’ve stopped looking for unemployment. As of December 2020, a full 53.9 percent of working-age Americans did not have living-wage full-time jobs.

      Thanks for this post 👋

       

      The DNC “big tent” excludes Nina Turner but includes John Kasich.
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    • #405888
      closeupready
      Participant
      • Total Posts: 2,038

      Thus, things are going to continue to get worse, not just for people today, but for children and their children. I’m honestly just counting down the time left to transpire after which I can set off and do my own thing.

      The opinions and personal views expressed herein are solely those of the author, and should never be taken seriously.

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