Tuesday, September 10, 2013

Top 1% take biggest income slice on record

Top 1% take biggest income slice on record 
"The top 1% of earners in the U.S. pulled in 19.3% of total household income in 2012, which is their biggest slice of total income in more than 100 years, according to a an analysis by economists at the University of California, Berkeley and the Paris School of Economics at Oxford University.
The richest Americans haven't claimed this large of a slice of total wealth since 1927, when the group claimed 18.7%."
"..the top 1% of earnings posted 86% real income growth between 1993 and 2000. Meanwhile, the real income growth of the bottom 99% of earnings rose 6.6%."

Sunday, September 08, 2013

Why Is One-Sixth of U.S. on Food Stamps? - Real Time Economics - WSJ

Why Is One-Sixth of U.S. on Food Stamps? - Real Time Economics - WSJ
"Food-stamp use grew 2.3% in June from a year earlier, with nearly one-sixth of the U.S. population receiving benefits."

Labor Recovery Leaves More Workers Behind - WSJ.com

Participation rate at lowest level since 1978 - WSJ.com

"The long, slow recovery in the U.S. job market is leaving ever-more Americans on the sidelines—and complicating the calculus for Federal Reserve policy makers weighing when the economy can get by with less help."
"At the recent pace of hiring, the economy won't get back to prerecession levels of employment, adjusting for population growth, for more than eight years.
The unemployment rate, meanwhile, fell not because people found jobs but because they gave up looking. "
"As a share of the population, fewer Americans are working or looking for work than at any time in the past 35 years."
"The share of the population that is working or looking for work—a measure known as the participation rate—fell to its lowest level since 1978, when women were still under-represented in the workforce and manufacturing accounted for more than a quarter of private-sector jobs."