Thursday, November 03, 2011

Poorest poor in US hits new record: 1 in 15 people - Yahoo! News

From 2011-10-06 Occupy Portland

Poorest poor in US hits new record: 1 in 15 people - Yahoo! News:


The ranks of America's poorest poor have climbed to a record high — 1 in 15 people — spread widely across metropolitan areas as the housing bust pushed many inner-city poor into suburbs and other outlying places and shriveled jobs and income.


New census data paint a stark portrait of the nation's haves and have-nots at a time when unemployment remains persistently high. It comes a week before the government releases first-ever economic data that will show more Hispanics, elderly and working-age poor have fallen into poverty.


In all, the numbers underscore the breadth and scope by which the downturn has reached further into mainstream America.


"There now really is no unaffected group, except maybe the very top income earners," said Robert Moffitt, a professor of economics at Johns Hopkins University."

'via Blog this'
Post a Comment