The status of the working and middle class American worker for fall 2010 – 42 percent of unemployed persons had been jobless for 27 weeks or more. Young workers have the highest unemployment rate on record at 19.1 percent.
There can be no sustained recovery without putting Americans back to work. We live in an odd time where GDP can be going up while middle class America is slowly dismantled. Let us be clear that the employment situation hasn’t improved. The recent job gains are largely part of the Census hiring that is now […]
Wealth inequality rivals the months prior to the Great Depression – Americans would prefer a more evenly distributed wealth system. Over 80 percent of Americans still feel we are in a recession.
The official announcement that the recession is over underscores the massive disconnect between Wall Street and the rest of America. Wealth inequality in America is at levels last seen right before the Great Depression ravaged our economy. Yet the inequality has grown even more intense as this crisis has gone forward. 43 million Americans are […]
Submarine housing markets – Negative equity map and the 7 metro areas where mortgage balances outweigh the entire stock of housing. Examining underwater housing across the U.S.
Negative equity at such a large scale is a rather unique phenomenon from this housing bubble. Even just a decade ago, a person got into a negative equity position due to a really significant shift in a localized market. For example, a city lost a major manufacturing company that supported most jobs and home values […]
The Struggling Class – The emergence of consistent poverty. How the other half live financially. 40 million Americans on food assistance and large unbanked population. Family Dollar up over 80 percent through the recession.
It is disturbing to see many articles published in foreign newspapers and magazines highlighting the plight of the middle class in America. You would think that our own media would want to cover this issue which should be at the top of the list for everyone. Instead, our mainstream media systematically attempts to keep everyone […]