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Tuesday, November 22, 2011

Economic Insecurity

Via Motoko Rich at the NY Times:

... A new report ... shows that 45 percent of United States residents live without economic security. That means they are not earning enough income to cover basic expenses, plan for important life events like college or save for emergencies like unexpected health bills. ...
The report showed that 55 percent of children live in households where families do not earn enough to achieve economic security. Even among those households with two full-time workers, 22 percent of those families with children earn less than is necessary to guarantee economic security.
The most vulnerable households are those led by single mothers, as well as African-American and Hispanic households. Only 18 percent of households headed by single mothers are living with economic security, while two-thirds of Hispanic households and 62 percent of African-American households are not earning enough to cover basic needs and saving requirements.
Part of the problem ... is that so many jobs pay low wages. ... “We have a construct in this country that if you work full time and keep your nose clean and live by the rules, you will get that full-time job that allows you to take care of your family,” Ms. Addkison said. “And what we’re finding is that workers who are working full time or the equivalent are still struggling.”

    Posted by on Tuesday, November 22, 2011 at 01:08 PM in Economics, Social Insurance | Permalink  Comments (58)


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