Low Unemployment Has Not Made A Difference For Many American Workers

The Report on the Economic Well Being of U.S. Households in 2016 (May 2017) has been released by the Board of Governors of The Federal Reserve System. A part of the report under the section Economic Preparedness and Emergency Savings reveals that a large amount of people are still barely getting by financially.

Below is a brief section from the report:

Just under one-fourth of adults are not able to pay all of their current month’s bills in full. • Forty-four percent of adults say they either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money.  The entire 172 page PDF file can be viewed here: 

According to the Bureau of Labor Statistics, the unemployment rate is at 4.3 %. However, this statistic does not show the entire picture. A sizable amount of low wage workers are in the workforce.  Click here to a project from Oxfam America and the Economic Policy Institute that reveals almost half the workforce is stuck in jobs paying under $15.00 per hour.  The country has serious economic problems and the Trump administration is sidetracked by the Russian narrative. Medical insurance and other expenses continue to rise leaving many people stuck in a downward financial spiral and not part of the American Dream. In the meantime, the Dow Jones Industrial Average is at a record high of 21,328 and American companies continue to park over two trillion dollars overseas.

Run it up! Ride it down!

Run it up! Ride it down!

While many suffer, the elites continue to prosper. 

 


Back to HOME PAGE

 

Copyright© Edge of Humanity LLC 2017

%d bloggers like this: