4 in 5 in USA face near-poverty, no work
"Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream."
"Hardship is particularly growing among whites, based on several measures. Pessimism among that racial group about their families' economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63% of whites called the economy "poor.""
"The gauge defines "economic insecurity" as a year or more of periodic joblessness, reliance on government aid such as food stamps or income below 150% of the poverty line. Measured across all races, the risk of economic insecurity rises to 79%."
"Nationwide, the count of America's poor remains stuck at a record number: 46.2 million, or 15% of the population, due in part to lingering high unemployment following the recession. While poverty rates for blacks and Hispanics are nearly three times higher, by absolute numbers the predominant face of the poor is white.
More than 19 million whites fall below the poverty line of $23,021 for a family of four, accounting for more than 41% of the nation's destitute, nearly double the number of poor blacks."
"In 2011, that snapshot showed 12.6% of adults in their prime working-age years of 25-60 lived in poverty. But measured in terms of a person's lifetime risk, a much higher number — 4 in 10 adults — falls into poverty for at least a year of their lives.
The risks of poverty also have been increasing in recent decades, particularly among people ages 35-55, coinciding with widening income inequality. For instance, people ages 35-45 had a 17% risk of encountering poverty during the 1969-1989 time period; that risk increased to 23% during the 1989-2009 period. For those ages 45-55, the risk of poverty jumped from 11.8% to 17.7%.
Higher recent rates of unemployment mean the lifetime risk of experiencing economic insecurity now runs even higher: 79%, or 4 in 5 adults, by the time they turn 60.
By race, nonwhites still have a higher risk of being economically insecure, at 90 percent. But compared with the official poverty rate, some of the biggest jumps under the newer measure are among whites, with more than 76% enduring periods of joblessness, life on welfare or near-poverty.
By 2030, based on the current trend of widening income inequality, close to 85% of all working-age adults in the U.S. will experience bouts of economic insecurity."