Monday, February 9, 2015

5 Facts that show working Americans are Seriously Struggling.

http://www.alternet.org/economy/5-facts-show-half-america-seriously-struggling?akid=12773.294211.71ZnSz&rd=1&src=newsletter1031557&t=7

1. No Money for Unexpected Bills A recent Bankrate poll found that almost two-thirds of Americans didn't have savings available to cover a $500 repair bill or a $1,000 emergency room visit.

2. 40 Percent Collapse in Household Wealth Over half of Americans have good reason to feel poor. Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with negative wealth (because of debt), and a full 60% of households owning, in total, about as much as the nation's 94 richest individuals.
 3. Cost of Living Surges as Income Falls Official poverty measures are based largely on the food costs of the 1950s. But food costs have doubledsince 1978, housing has more than tripled, and college tuition is eleven times higher. The cost of raising a child increased by 40 percent between 2000 and 2010.
4. Lots of New Jobs (Below Living Wage) 
Worse yet, the lowest paid workers, those in housekeeping and home health care and food service, have seen their wages drop 6 to 8 percent (although wages overall rose about 2 percent in 2014).

5. Our Greatest Shame: Half of the Children Feeling Poverty Over half of public school students are poor enough to qualify for lunch subsidies. There's been a stunning70 percent increase since the recession in the number of children on food stamps. State of Working America reported that almost half of black children under the age of six are living in poverty. 



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