While I think this number a bit off, it depends on what you call “poverty”, and most students/young adults have a period of not making anything, what it does demonstrate is the unsteadiness of the economy and the falsity of Obama’s “recovery”. There is a continued failure to realize that the economy is suffering from the failure to support manufacturing jobs, in favor of over regulation, climate change and a host of other Democratic agenda items.
WASHINGTON (AP) — Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.
Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor and loss of good-paying manufacturing jobs as reasons for the trend.
The findings come as President Barack Obama tries to renew his administration’s emphasis on the economy, saying in recent speeches that his highest priority is to “rebuild ladders of opportunity” and reverse income inequality.
Hardship is particularly on the rise among whites, based on several measures. Pessimism among that racial group about their families’ economic futures has climbed to the highest point since at least 1987. In the most recent AP-GfK poll, 63 percent of whites called the economy “poor.”
HT: @LincolnFresno