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Thursday, September 01, 2005

Poverty rate on the increase

From the New York Times:

Even as the economy grew, incomes stagnated last year and the poverty rate rose, the Census Bureau reported Tuesday. It was the first time on record that household incomes failed to increase for five straight years.

The portion of Americans without health insurance remained roughly steady at 16 percent, the bureau said...

Median pretax income, $44,389, was at its lowest point since 1997, after inflation.

Though the reasons are not wholly clear, economists say technology and global trade appear to be holding down pay for many workers. The rising cost of health care benefits has also eaten into pay increases.

Full story here.

1 Comments:

At 9:07 AM, Blogger Joan said...

The Globalization is controled by the elite and the big corporation are the ones who benefit.
Poverty reduction, has not been the plan of the Globalization



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