As in any other playoff, candidate rhetoric let loose during the U.S. presidential race can be tough. We’ve held a front row seat to the 2012 showdown for over a year, with tensions still rising as the general election looms nearer. Some of the barbs launched along the campaign trail have been laughable: Newt Gingrich’s television ad incriminating Mitt Romney for his ability to speak French comes to mind. Others are not. The dialogue surrounding U.S. poverty and inequality, two issues that are hotter than ever during a deep recession that the nation has shown incapable of simply shaking off [...]
Recession
Despite recession troubles, minorities’ aspirations remain high
While all U.S. workers struggle in the current economic climate, recent polls reveal that higher numbers of minorities than their white counterparts are optimistic about their future prospects. According to Census numbers, the nation’s collective income fell by 6.4 percent between 2007 and 2010, with African-American and Latino incomes suffering the steepest declines. Paradoxically,... »
Recession forces household sizes to grow
The 2010 Census found that after a 50-year decline in household size, more people are living together under the same roof. The recession, unemployment and housing crisis are currently forcing people to double up with family or friends. Increases in the numbers of immigrants and of young adults who live with their parents after... »
California border city crippled by economic downturn
El Centro, Calif., located near the Mexican border, once represented opportunity and optimism. For the past two years, the town has struggled with one of the country’s highest unemployment rates, now 28 percent. The collapse of housing prices and tighter border security have all deepened the effects of the recession »
Eastern Tennessee counties shrink as poverty rate grows
As more residents move away to find work, eastern Tennessee’s population is falling. Scott, Morgan, and Claiborne counties are the least populated in the region and shrinking; they also have the state’s highest jobless rates. In Scott County alone, plant closings have led to a 20.4 percent unemployment rate and a 24 percent poverty... »
Fewer layoffs, but high jobless rates remain
While workers are less likely to be laid off now than in the last 14 years, the jobless still struggle with finding employment 20 months after the end of the recession. Employers are not likely to hire until they are more confident about the economy, which may not happen until consumer spending recovers. »
Fresno’s jobless rate stays high despite thousands of openings
Even though Fresno, Calif., has thousands of job openings, its unemployment rate is among the nation’s highest. Economists say the recession has accelerated the decline of some industries like construction, while growing industries such as health care require different skills. The jobs that are available are not a good fit for the unemployed. While... »
Older unemployed workers face unpromising futures
A growing number of unemployed people in their 50s and 60s are struggling with finances in light of the economic downturn and its slow recovery. These laid-off workers have a hard time finding employment, and are not yet qualified for Social Security. Many have run out of savings and jobless benefits, living on the... »
Washington to bill states $1.3 billion for jobless benefits
The federal government will charge states $1.3 billion in interest this fall for the billions of money borrowed to pay unemployment benefits during the recession. States had hoped the economy would improve or Congress would loosen the loans’ terms by the time the first interest payments were due. But the economy has not yet... »
Missouri may pay $200 million more for Medicaid
With unemployment near double digits and more residents falling below the poverty line, Medicaid is increasingly relied on for health coverage. As a result, the state of Missouri may have to pay $200 million more to Medicaid this year. The number reflects the larger number of residents eligible to receive Medicaid, and the increase... »
Holiday spending does not eliminate doubt in consumers
Though holiday spending increased dramatically this year, it is not an accurate reflection of the state of the economy. Unemployment rates remain high, and home prices continue to fall. Though consumer confidence in the economy is still not robust, economists are not worried. Layoffs are slowing, businesses are investing money in computers and equipment,... »