In 1973, the median male worker earned just over $49,000 when adjusted for inflation, while in 2010 that worker made about $1,500 less. Yet, in the same period, the output of the economy has more than doubled, and the productivity of workers has risen steadily. [NPR]
However, if one examines the August BLS jobs report closely, one finds something interesting—the unemployment rate for college graduates (that is, those holding at least a Bachelor’s degree) is only 4.3 percent. Moreover, this figure has slowly declined from 5.0 percent in August 2010. [International Business Times]
The percentage of Americans living in poverty in 2010 rose to the highest level since 1993, according to the Census Bureau. This is evidence that the disappointing economic recovery has done nothing for the country’s poorest citizens. Not that one would expect it to.
Additionally 2.6 million people slipped below the poverty line in 2010, meaning 46.2 million people now live in poverty in the United States. This is the highest number in the 52 years that the Census Bureau has been tracking it.
This represented 15.1 percent of the population. This is up from 14.3 percent in 2009, and 11.7 percent in 2001. The poverty line in 2010 for a family of four was $22,113.
We continue to lose ground. We have to be masters of our own destiny. The time to start is now.