The only economic-hardship stories that get to the media, are the stats-galore mumbo-jumbo out of Wash. DC, or very local stories of the downtrodden.
But after 6 years of economic disaster under Team Obama, here's the "real deal" of how bad it is for most American families.
(Just ignore the Team Obama ordered hype about how the economy is somehow, miraculously, still improving. It's not. And too many Americans, once
steadily employed, are now piecing together part-time or seasonal jobs just to stay afloat.)
'UNSTEADY INCOMES' KEEP MILLIONS BEHIND ON BILLS - AND FORGET ANY SAVINGS
"The financial volatility that the Vories grapple with is a feature of life for millions of workers whose paychecks fluctuate with the season, an
hourly schedule or the size of a weekly commission.
"A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovers
(*raspberry*) but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent
cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.
"The data show “a clear upward trend in income volatility,” according to a report from U.S. Financial Diaries, which on Wednesday released the
first results of an in-depth study of low- and moderate-income families. In the diaries’ research, NEARLY ALL OF THE 235 HOUSEHOLDS STUDIED
EXPERIENCED A DROP IN MONTHLY INCOME OF AT LEAST 25% IN A SINGLE YEAR. The main culprits were reduced work hours, health problems and shifts in
household size, like a needy relative coming to stay.
"Across the country, nearly seven million people working part time would prefer full-time jobs but can’t find them. While their numbers are down
from the peak a couple of years ago, these involuntary part-timers still account for 4.5 percent of the labor force, compared to an average of 2.7
percent before the recession."
DAILY JOB CUTS
Constantly updated page of jobs-lost, company bankruptcies and closings.
edit on 4-12-2014 by MKMoniker because: clarity
edit on 4-12-2014 by MKMoniker because: more content