Employment Gap Between Rich, Poor Widest on Record

[OhioChick]

Source: AP

WASHINGTON September 16, 2013 (AP)

The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.

Rates of unemployment for the lowest-income families — those earning less than $20,000 — have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression.

U.S. households with income of more than $150,000 a year have an unemployment rate of 3.2 percent, a level traditionally defined as full employment. At the same time, middle-income workers are increasingly pushed into lower-wage jobs. Many of them in turn are displacing lower-skilled, low-income workers, who become unemployed or are forced to work fewer hours, the analysis shows.

"This was no 'equal opportunity' recession or an 'equal opportunity' recovery," said Andrew Sum, director of the Center for Labor Market Studies at Northeastern University. "One part of America is in depression, while another part is in full employment."

Read more: http://abcnews.go.com/Politics/wireStory/employment-gap-rich-poor-widest-record-20265592

[Cryptoad]

1. Find a Republican

and hug them,,,,,,,, They continue to obstructs anything that would make things better..!

[liberalmike27]

2. I heard this mentioned

On several of the right-of-center shows (MSNBC) yesterday, and on This Week I believe. They ask this concerned question "Why is it the lion's share of the increases are going to the rich, and not flowing down to the poor." The answer is pretty easy. It was never designed to be that way. Along with vastly lower taxes that Democrats actually helped Republicans achieve in the last 60 years or so, all that free money was used to assure that most of the "new money" went straight into the accounts of the richest citizens on the planet. Call it recouping all that money the poor and middle managed to take during the post-FDR years, all us poor saps punishment for not bending over and taking it up the...whoops, better not go there, but you know what I mean.

Let me just say, the answers weren't very satisfactory. But hey, it's great that they actually brought it up. If only they'd talk incessantly about that, instead of abortion, or gays, or guns...yea, we're going to be onto the gun thing. As if on cue, another shooting has cropped up, just when war and Syria seems to be faltering, to occupy the country's media matrix. (sigh)

[FreakinDJ]

3. Washington is not going to fix this problem

They are part of the Wealthy Elite and don't give a shit about Working Class Families

[closeupready]

6. Yes. Members of Congress are universally millionaires, Dems and GOP alike.

They are all just as self-interested in preserving "their's" regardless of party affiliation.

[pscot]

15. Let's move the Capitol to Boise

The lobbyists will have to sleep in their cars.

[Iliyah]

4. Pres O was speaking about it today

the corporate media has ignore it and is focusing on the shooting instead. Apparently the media just can't do several things at one time.

[Maedhros]

5. The various wars in the new millennium have done a fantastic job of transferring wealth

upward.

After the budget surplus during the Clinton years, the oligarchs saw this humongous pile of money just sitting there in the public coffers. "How can we GET that?" they asked themselves. "War!" was the answer. And so we bullied our way into Iraq for no real reason other than to transfer that public money from the government to the defense contractors and Dick Cheney's buddies.

And here we are ten years later, continuing to poor hundreds of billions into the same black hole in the name of Keeping Us Safe (Think of the Children!!!).

[marmar]

7. Gilded is tres chic.

[Auggie]

8. Meanwhile, we all wait for the shit to hit the fan ...

and will it ever.

[dickthegrouch]

10. And guess who's going to be covered by it?

The 99% as usual.

[dmosh42]

9. As long as the corporations and rich control both parties, we can forget about any fairness in...

this country. But we will hear about it when the country needs to be defended!

[ErikJ]

11. This is why INCOME tax is the only fair tax.

The people that still actually have an income from either work or cap gains and dividends can pay taxes while the unemployed shouldnt be expected to pay any taxes like sales or property taxes. And of course the top income and dividend tax rates should be 2 or 3 times higher than now.

[FreakinDJ]

12. Its not the Tax but the TAX EXEMPTIONs

The more you earn the more exemptions you qualify for

[Daniel537]

13. A Nation in Decay.

This reprehensible level of inequality is the ultimate recipe for a failed state. Wealth and luxury for the elite, bread(maybe) and circles for the rest of us.

[Igel]

14. There's isn't "a" level traditionally defined as full employment.

When I was in school, it was about twice what the article says. In the '90s, it was still more than 3.2% when we all but set record low unemployment levels for peacetime--and that was feared to be highly inflationary and *less* than a healthy "full employment". It was higher than 3.2% that under Bush II.

Some economists have argued for 3% or 2%, but a "traditional definition" seems to be mostly in the memory of the reporter. And that's just the US.

It also varies by country. The point is simple: given the variety of definitions over the last 40 years, there is no tradition. It's a pointless appeal to authority, which, in this case, is an authority that the reporter doesn't feel like revealing.

[blkmusclmachine]

16. The 1% are the politicians.

Figures.