Great recession did not cause surge in poverty.

PositionYOUR LIFE - Brief article

Even as housing prices plummeted and unemployment rates hit double digits, the so-called Great Recession has not corresponded to a surge of Americans in poverty, according to a study by the Population Dynamics Research Group, Los Angeles, Calif. Young adults are in the segment hit hardest by the economic downturn, suffering higher unemployment rates, poverty, and the greatest losses in homeownership in the last decade.

[ILLUSTRATION OMITTED]

Among the most notable findings of the report:

* The national poverty rate rose at about the same rate during the Great Recession as during the economic boom of the 2000s. From 2006-09, the percentage of Americans in poverty increased from 13.3% to 14.3%.

* Over the last decade in California and Los Angeles, for instance, median household income in real dollars and house values improved. The...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT