According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD'S POOREST 10%.
Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.
$1 in expenses twenty years ago is now $1.25. $1 in earnings twenty years ago is now still $1.
Estimates of adults living from paycheck to paycheck range from half to 60 percent to 78 percent.
A typical U.S. household needs about $60,000 annually to meet all expenses. That's only manageable if two adults are working full-time for $15 per hour. Beyond that, little cushion exists. No American adult in the bottom 40% has more than $31,124 in total wealth, including house and car and savings
While 1 in 7 Americans is part of the world's poorest 10%, nearly 3 in 7 Americans are part of the world's richest 10%. The economy is booming for THEM.
The Bureau of Labor Statistics workforce includes contingent and alternative employment arrangements that make up about 10% of the workforce. It includes part-time workers (even one hour a week!), who make up about 16% of the workforce. And, inexplicably, it fails to count as unemployed those who have given up looking for work -- 4% more Americans than in the year 2000.
Many of today's 'gig' jobs don't pay a living wage, and most have no retirement or health benefits, no job security, no government regulations backing them, and usually a longer work day, with many people putting in 10- to 12-hour days for $13 per hour or less. According to a New York Times report, "41.7 million laborers — nearly a third of the American work force — earn less than $12 an hour, and almost none of their employers offer health insurance."
Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.
$1 in expenses twenty years ago is now $1.25. $1 in earnings twenty years ago is now still $1.
Estimates of adults living from paycheck to paycheck range from half to 60 percent to 78 percent.
A typical U.S. household needs about $60,000 annually to meet all expenses. That's only manageable if two adults are working full-time for $15 per hour. Beyond that, little cushion exists. No American adult in the bottom 40% has more than $31,124 in total wealth, including house and car and savings
While 1 in 7 Americans is part of the world's poorest 10%, nearly 3 in 7 Americans are part of the world's richest 10%. The economy is booming for THEM.
The Bureau of Labor Statistics workforce includes contingent and alternative employment arrangements that make up about 10% of the workforce. It includes part-time workers (even one hour a week!), who make up about 16% of the workforce. And, inexplicably, it fails to count as unemployed those who have given up looking for work -- 4% more Americans than in the year 2000.
Many of today's 'gig' jobs don't pay a living wage, and most have no retirement or health benefits, no job security, no government regulations backing them, and usually a longer work day, with many people putting in 10- to 12-hour days for $13 per hour or less. According to a New York Times report, "41.7 million laborers — nearly a third of the American work force — earn less than $12 an hour, and almost none of their employers offer health insurance."
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