9/08/2010

The Rich Get Richer While the Pain Trickles Down

Top group takes large slice of income growth: "38.7% of all of the income growth accrued to the upper 1% over the 1979-2007 period: a greater share than the 36.3% share received by the entire bottom 90% of the population."

The Pain Trickles Down: Washington D.C.Street Sense writer, Jeff McNeil (September 1-14th issue), points out that when unemployment rises and people's weekly wages fall they give less to the homeless. Even those who are surviving on the margins of society find themselves living on even thinner margins.

Lost Income, Lost Friends - and Loss of Self- respect: The Impact of Long-term Unemployment [PDF]: Black workers have higher rate of long-term unemployment--being unemployed for more than six months--than whites or Hispanics. Consequently, blacks report more personal and interpersonal problems stemming from long-term unemployment.

Another challenge for the unemployed: Public library budget cuts: "Public libraries around the country are facing budget cuts that are forcing them to reduce hours, scale back book purchases, or close altogether. Such cuts will make it more difficult for millions of unemployed workers to access the resources and technology needed to find jobs."

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--Algernon Austin, Ph.D.