How good are things getting? It depends a lot on where you are in the economy. At the top end life is definitely improving – but at the bottom end it’s just endless misery. That’s the only conclusion that can be reached after two reports released this week.
The first was an analysis by the Associated Press that showed that underemployment is much worse for those at the low end of the economic scale, which in technical terms is hardly surprising. But what they found is that 20% of those at jobs worth $20k per year don’t have enough hours, versus 7.2% of those who would normally qualify for jobs over $150k. The second piece release was by the Census Bureau showing that 15% of Americans, 46.5M people, are stuck in poverty as they have been for 4 years.