The Bureau of Labor Statistics announced today that the US economy created 271,000 jobs in October, a number substantially in excess of the expected 175,000 to 190,000 jobs. The unexpected job gain has dropped the unemployment rate to 5 percent. These two numbers will be the focus of the financial media presstitutes.
What is wrong with these numbers? Just about everything…
Denmark played a surprising role in Tuesday’s Democratic debate. Here is how the country stacks up the US on a number of important social indicators…
…According to a study by Poverty and Social Exclusion (PSE), 33% of all UK households endure below-par living standards – defined as going without three or more “basic necessities of life”, such as being able to adequately feed and clothe themselves and their children, and to heat and insure their homes. In the early 1980s, the comparable figure was 14%. A 140% increase.
Almost 30% of working women are earning less than the living wage. The figures also showed nearly 50% of young people are on low wages in London, with the figure rising to 58% outside the capital. In all, this accounts for 6 million hard working people, the number jumping 19% in just four years.
Billed as the most detailed research study ever of poverty in the UK, PSE claims that nearly 18 million Britons live in poor and inadequate housing conditions and that 12 million are simply too poor to take part in all the basic social activities. It reiterates that one in three people cannot afford to heat their homes properly, while 4 million adults and children are not able to eat healthily.
Having a job does not prevent British families from facing tough living conditions either. The research determined that many households were financially struggling with the aforementioned and had at least one adult in work.
The report makes a number of observations, for instance; that 5.5 million adults go without essential clothing; that 2.5 million children live in damp homes; that 1.5 million children live in households that cannot afford to heat them; that one in four adults have incomes below what they themselves consider is needed to avoid poverty, and that more than one in five adults have to borrow to pay for day-to-day needs. It is estimated that Britain will have 5 million children living in poverty by 2020.
One thing is clear, attempts by government to tackle overall poverty has failed. Poverty and deprivation has increased. The poor are suffering from deeper poverty and the gap between the rich and poor has widened considerably in the last 30 years.
It is interesting what this high quality, scientific evidence highlights. The statistics show that poverty has come about due to the cost of housing, cost of heating, the cost of clothing and food – these are the basic measures of poverty…
Is it much different in the USA?