After seven years since the depression ended, poverty rates
finally declined because employers are creating more jobs and paying higher wages
that meet minimum wage requirements. About 3.5 million Americans rose above the
poverty line last year according to census data released earlier this month.
This is the largest decline of the poverty rate since 1999. Set at $24,300, for
a family of four in most states, 1.2% of Americans in all racial groups rose
above this line.
Wages grew more for the lower minimum wage income jobs,
rather than in the middle, which makes a huge difference in many poorer
families lives. Still, many poor people already have a restraint when searching
for full-time jobs at livable wages. Many lack an educational background. This not
only sets them apart from other potential employees, it also puts them with a
lack of resources such as: no computer to search for jobs and no compensation for
the bad impression a missing tooth can leave.
Overall, the increase in jobs affected the poverty rate immensely,
showing no increase in all 50 states.
Link to article.
The large shift away from poverty may also be influenced by our last recession. Since our poverty rate increased during the recession, there are more Americans who can now begin shifting away from the poverty line. Even though some of them do not have full time jobs, I think this is an improvement to our overall economy.
ReplyDeleteIt all came together at the same time. It is a phrase that correlates to success and luck. In regards to the unemployment rate everything came together for poverty rates to finally decline. Some factors that contribute to this decline are low gas prices, decline in unemployment insurance in some states, and an increase in wages.
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