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Jan 16, 2013

Number of working poor families grows as wealth gap widens - 1/3 families working at poverty line

Yahoo! Finance:  About 10.4 million such families - or 47.5 million Americans - now live near poverty, defined as earning less than 200 percent of the official poverty rate, which is $22,811 for a family of four.

Overall, nearly one-third of working families now struggle, up from 31 percent in 2010 and 28 percent in 2007, when the recession began, according to the analysis.

"Although many people are returning to work, they are often taking jobs with lower wages and less job security, compared with the middle-class jobs they held before the economic downturn," the report said.

"This means that nearly a third of all working families ... may not have enough money to meet basic needs."


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