Business & Tech
Are You One of the 4 of 5 Americans Experiencing Poverty, Unemployment?
Globalization, widening disparity between the rich and poor and the disappearance of well-paying jobs named as culprits in deteriorating American Dream, according to an AP survey.
The American dream is deteriorating and U.S. economic globalization, the growing span between the rich and poor and the disappearance of well-paying jobs are to blame, according to the Associated Press.
An AP article on NBCNews.com says AP survey results show that four out of five U.S. adults will experience “economic insecurity” in their lifetime.
“Economic insecurity” is defined as one or more years of joblessness, making 150 percent below the poverty line or reliance on government assistance, like food stamps.
About 79 percent of Americans are at risk of falling into economic insecurity, the AP reports. While poverty rates are at an all time high at 46.2 million or 15 percent of Americans, marriage rates are declining.
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U.S. Census Bureau data shows that 8.9 percent of Westchesterresidents were living below the poverty level between 2007 and 2011. The rate for those living below the poverty level was higher in Rockland County at 11.6 percent.
According to the AP, almost 85 percent of all working-age American adults will experience bouts of economic insecurity by 2030.
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Are you one of the four in five Americans who will experience economic insecurity? How are you being affected by the current economy?
Have any suggestions for those who may be struggling? Tell us in the comments.
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