Easy to read Economic stats
>> Monday, October 11, 2004
Really, trust me it's all laid out in layman's terms from The Heritage Foundation.
Summary:
- The US has lost payroll jobs (people employed by companies) but has gained jobs overal if you count the self-employed, consultants, contractors and people who work on commission (using a household job survey).
- Applications for unemployment are well below the 25 year average.
- Manufacturing was hit hardest with job losses, however this is a world-wide phenomenon. The cause is higher productivity and computerization.
- Insourcing: Today, more than 5.4 million jobs in America are the result of insourcing—that is, they have been outsourced from abroad into the United States.
- The poverty rate is slightly lower today than it was in 1998
- About 38% of those in poverty in one year have moved up to middle-class earnings within three years. A slightly lower rate move from upper-class earnings to middle-class earnings within three years.
2 comments:
I'd love to see a comparison of the U.S. poverty level income with the incomes in Europe. How does our income structures compare? I lived in the UK for a year. Their upper middle class lived like our lower middle class does here . . .
Anita- I spent quite a bit of time trying to find numbers of some sort to compare poverty level income in other countries to ours. I just can't find it.
I can tell you that France, Germany & Russia all have a much higher unemployment rate that we do. The only one better, that I found is the UK, below 3%.
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