Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/29/2013 (1 year ago)

Catholic Online (www.catholic.org)

Four in 10 adults falls into poverty for at least a year of their lives

While the United States appears to be on the move again, with consumers buying more and more people returning to work, the cold figures of domestic poverty and unemployment paint a far grimmer picture. According to 2011 figures, four in 10 U.S. adults fall into abject poverty at least once in their lives. 

Measured across all races - black, white, Hispanic, other -- the risk of economic insecurity rises to 79 percent.

Measured across all races - black, white, Hispanic, other -- the risk of economic insecurity rises to 79 percent.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

7/29/2013 (1 year ago)

Published in Business & Economics

Keywords: Poverty, poor whites, joblessness, unemployment, food stamps


LOS ANGELES, CA (Catholic Online) - While President Obama has declared in recent speeches that his highest priority is to "rebuild ladders of opportunity" and reverse income inequality, the gap between the rich and the poor continues to widen in the U.S.

Poverty is especially hard on white Americans. Pessimism among whites and their families' economic futures has climbed to the highest point since at least 1987. Sixty-three percent of whites surveyed describe the U.S. economy as "poor."


Economic insecurity among whites is more pervasive than is shown in government data. The average white American - at least 76 percent, has tasted the bitter sting of poverty at least once by the time they turn 60.


The term "economic insecurity" is defined someone who has experienced unemployment at some point in their working lives. It can also mean time spent such as a year or more of reliance on government aid such as food stamps or income below 150 percent of the poverty line. 


Measured across all races - black, white, Hispanic, other -- the risk of economic insecurity rises to 79 percent.


"The invisible poor" as defined by demographers are typically lower-income whites dispersed in the suburbs as well as small rural towns, where more than 60 percent of the poor are white. 


Many poor whites are concentrated in the Appalachia in the East, they are also numerous in the industrial Midwest and spread across America's heartland, from Missouri, Arkansas and Oklahoma up through the Great Plains.


Interestingly, more than 19 million whites fall below the poverty line of $23,021 for a family of four, nearly double the number of poor blacks.


These figures still fail to capture the makeup of those who cycle in and out of poverty at different points in their lives, who may reside in the suburbs or the working poor or the laid off.


The risks of poverty have only worsened in recent decades, particularly among people ages 35-55, coinciding with widening income inequality. People ages 35-45 had a 17 percent risk of encountering poverty during the 1969-1989 time period. This risk increased to 23 percent during the 1989-2009 periods. For those ages 45-55, the risk of poverty jumped from 11.8 percent to 17.7 percent.


Some things remain constant. 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 percent enduring periods of joblessness, life on welfare or near-poverty.


---


Pope Francis: end world hunger through 'Prayer and Action'


Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for February 2015
General Intention:
That prisoners, especially the young, may be able to rebuild lives of dignity.
Missionary Intention: That married people who are separated may find welcome and support in the Christian community.



Comments


More Business & Economics

SHINY, RED APPLE: Computer giant is now twice as big as world's second largest firm, ExxonMobil Watch

Image of Strong sales of the larger-screened iPhones resulted in the largest quarterly profit reported by a company, with device sales rising 29.5 percent in the final three months of 2014 to $74.6 billion,

By Catholic Online (NEWS CONSORTIUM)

How big is Apple? The creator of the iPhone and tablets is SO BIG that it is now currently twice as big as its second-closest rival, ExxonMobil. This is being reflected in the stock market, where shares in Apple jumped 2.7 percent at the start of the week to ... continue reading


WHERE IS YOUR MONEY GOING? Government collects $1 trillion from taxpayers - and there's still a deficit! Watch

Image of Where is all of our hard-earned money going?

By Catholic Online (NEWS CONSORTIUM)

Where is all of our hard-earned money going? Real federal tax revenues for the first time ever topped $1 trillion in the first four months of the fiscal year, October through January, according to data released Wednesday by the U.S. Treasury. LOS ANGELES, CA ... continue reading


80 MILLION Americans have their privacy invaded in Anthem data breach Watch

Image of An internal investigation, days later verified that the company was a victim of a cyber-attack, the company said, and federal authorities were alerted.

By Catholic Online (NEWS CONSORTIUM)

Insurance giant Anthem suffered a massive security breach when hackers broached computer safeguards and mad a wild data grab. Up to 80 million Americans have had their privacy effectively invaded, although authorities say more sensitive information was not ... continue reading


Electronic giant RadioShack files for bankruptcy - but will keep some stores open Watch

Image of The Chapter 11 filing, made in federal bankruptcy court in Delaware, surprised few. RadioShack had not turned a profit since 2011.

By Catholic Online (NEWS CONSORTIUM)

RadioShack, an iconic, 94-year-old electronics chain has filed for bankruptcy protection. The company has decided to sell up to 2,400 of its stores to the wireless service provider Sprint and a hedge fund that is its biggest shareholder. LOS ANGELES, CA ... continue reading


Is your bank account suffering? Here are 5 INCREDIBLY EASY TIPS on how to save money! Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Saving money is not a simple task. It is hard to resist eating out or buying the hottest new music. How can your savings account grow when spending money is so easy in today's world? LOS ANGELES, CA (Catholic Online) - Whether you're planning on moving or looking to ... continue reading


Game over: Saudi Arabia threatens to increase oil production to dangerously drive America out of the oil market Watch

Image of America's rising oil production has threatened Opec's control of the global oil market, but Saudi Arabia may be striking back, upping its own production in order to drive costs beyond the ability of American oil corporations to compete.

By Matt Waterson (NEWS CONSORTIUM)

Despite the continuing decline of the price of oil, Saudi Arabia has actually increased its oil production in an attempt to gain a victory in the oil war against shale drillers in the United States. LOS ANGELES, CA (Catholic Online) - The Middle Eastern oil ... continue reading


Talk about a killer app! Apple posts largest profit in history of mankind Watch

Image of The iPhone 6, which has helped Apple post the record largest profit ever made by a corporation.

By Matt Waterson (NEWS CONSORTIUM)

Apple has sold 74.5 million iPhones in just the last three months, helping the tech giant's profits soar to $18 billion, up more than 37 percent. LOS ANGELES, CA (Catholic Online) - This is the largest profit ever made by a corporation, edging out the $16.2 billion ... continue reading


ECONOMIC EARTHQUAKE: IBM rumored to lay off 110,000 employees - biggest cull in business history Watch

Image of First reported on the Forbes Web site, IBM scoffed at the news. Representatives said that the reported scale of the job cuts

By Catholic Online (NEWS CONSORTIUM)

There are alarming indications that the largest corporate layoff in history may be near. There are rumors afoot that computer IBM plans to lay off 110,000 employees shortly. As their entire worldwide workforce is estimated at 430,000, this represents a quarter ... continue reading


Living on less than $2 dollars a day: Only 5 percent of global wealth belongs to the poorest 80 percent of the world Watch

Image of Millions of people around the world are living off of less than two dollars a day.

By Abigail James (NEWS CONSORTIUM)

The staggering increasing inequality among the wealthy and poor around the world continues to be a pressing issue. Eighty rich billionaires have as much money as 3.5 billion of the poorest people. LOS ANGELES, CA (Catholic Online) - The wealthy are occuring their ... continue reading


An amazing 2,500 of the world's most prestigious people canvas Davos, Switzerland for this year's World Economic Forum Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Around 1,700 private jets will cover the sky, as the most elite people of the world descend on the annual World Economic Forum in Davos, Switzerland. Throughout the next week, world leaders, wealthy businessmen and even influential pop stars will come together to speak ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Deuteronomy 26:16-19
16 'Yahweh your God commands you today to observe ... Read More

Psalm, Psalms 119:1-2, 4-5, 7-8
1 How blessed are those whose way is blameless, who ... Read More

Gospel, Matthew 5:43-48
43 'You have heard how it was said, You will love ... Read More

Saint of the Day

Saint of the Day for February 28th, 2015 Image

St. Hilary, Pope
February 28: Pope from 461-468 and guardian of Church unity. He was born in ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter