AP News reports today that “Working-age America is the new face of poverty.” I’m not sure that that is any big news to those struggling with making ends meet on unemployment or low wage jobs, but at least the media is talking about it.
Currently, the ranks of the working-age poor are at the highest level since the 1960s when the war on poverty was launched. When new census figures for 2010 are released next week, analysts expect a continued increase in the overall poverty rate due to persistently high unemployment last year.
If that holds true, it will mark the fourth year in a row of increases in the U.S. poverty rate, which now stands at 14.3 percent, or 43.6 million people.
On Thursday, President Obama will outline a new jobs plan that will include stimulating the economy in a prime-time address to Congress. I’m still hanging on to hope that he can turn this mess around…