It seems that in the last decade, there’s been a lot of bad news for the U.S. economy and just when things seemed to be getting better, they got worse. A new report by the U.S. Census Bureau reveals that the national poverty rate has risen to 15.1% which is the highest rate reported since 1983. That percentage roughly translates to 46.2 million Americans living below the poverty line.
Unemployment and the shrinking of the economy is the culprit for the stunning poverty levels. In addition, median income fell 2.3 percent between 2009-2010. As the cost of living is increasing, salaries are not keeping up. Nearly 50 million Americans lack health insurance, which includes freelancers and those with full-time jobs whose employers have cuts costs by cutting health insurance.
With many jobs going overseas and demands of the economy rapidly changing, it’s time for the American economy to embrace fruitful change.