Friday, December 2, 2011

NYT: "For Jobless, Little Hope of Restoring Better Days"

"Even though the Labor Department is expected to report on Friday that employers added more than 100,000 jobs in November, a new study shows just how rare people like Ms. Mowery are. According to the study, to be released Friday by the John J. Heldrich Center for Workforce Development at Rutgers, just 7 percent of those who lost jobs after the financial crisis have returned to or exceeded their previous financial position and maintained their lifestyles.

The vast majority say they have diminished lifestyles, and about 15 percent say the reduction in their incomes has been drastic and will probably be permanent..."

Majia here: read the entire article at the link above. 

Tragically, the economic and social well-being of many Americans has plummeted during this recession, despite record corporate profits from cutting labor and from overseas operations. 

Government bailouts have disproportionately benefited the wealthiest corporations and individuals. Consequently, the rich have gotten richer and the middle class has constricted. 

The working-poor have been very adversely impacted.

Some backgound

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