Pew Study: Interesting Insights on Poverty during the Great Recession
A major new report by the Pew Research Center entitled, “How the Great Recession Has Changed Life in America” has received a great deal of attention. The comprehensive survey of nearly 3,000 Americans examines how people have been coping with the recession۪s effects. While the entire survey presents a powerful glimpse at the recession۪s toll on Americans from all walks of life, OOTS wants to highlight the portrait of low-income families that emerges from the study.
For households that earn under $30,000 (the poverty line for a family of four is $22,050), the Great Recession has meant increased hardship:
· 44 percent have had trouble getting or paying for medical care during the recession
· 42 percent were forced to borrow money from a friend or family member to meet their basic needs
· 30 percent had their pay cut at some point during the recession
· 56 percent of working adults in these households experienced one or more hardships on the job, including reduced work hours, pay cuts, being forced to take unpaid leave, and being forced to switch from a full-time to a part-time job
· 33 percent of those who own homes are “underwater,” meaning they currently owe more on their mortgage or other home loans than their house is worth
As the discussion about how we will recover from this recession continues, the Pew report provides valuable insight into the struggles facing low-income Americans and the importance of addressing their needs as we strive to fix our economy.
Posted by Mike
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