Hardship grows amid wealth: Residents face unexpected need in communities across North Jersey, By Harvy Lipman, June 24, 2012, The Record: “Karen Levi doesn’t think of herself as being poor. After all, she has a condo in Mahwah, 10 years’ experience in marketing and publishing and, before the recession struck, she was making $75,000 a year. But the fact of the matter is that Levi hasn’t had a full-time job in three years, even after returning to school last year to get her certification as a paralegal. A divorcée who supports a 20-year-old daughter in college, she took in $31,000 last year working a range of part-time jobs and collecting unemployment checks. When her jobless benefits run out for good at the end of this month, she’ll lose nearly two-thirds of her income. That will pretty much land her at the official federal poverty level of $11,170 for a single person – an amount that experts agree greatly underestimates the cost of living in a place like North Jersey…”
Day: June 26, 2012
Homelessness – Washington, D.C.
‘Heart-wrenching’ Catch-22: Homeless families who turn to city for help find no rooms, risk child welfare inquiry, By Annie Gowen, June 23, 2012, Washington Post: “When Shakieta Smith, a homeless mother of two, called the District’s shelter hotline in March, she was told the city’s shelters were full — and then the intake worker added a chilling warning: If she and her kids had nowhere safe to sleep, she’d be reported to the city’s Child and Family Services Agency for a possible investigation into abuse and neglect. Since then Smith has spent her days looking over her shoulder and her nights worrying about her family’s uncertain future. Could Child Protective Services investigators find her and her two kids at a cousin’s apartment in Southeast, where they often stay? Would they sweep in and take Da’Quan and Da’Layah from their elementary school one afternoon? The fear haunts her. . .”
OECD 2012 U.S. Economic Survey
- OECD raises red flag on US long-term unemployment, By Lucia Mutikani, June 26, 2012, Reuters: “The lengthy spells many Americans are spending without work risk leaving a lasting scar of higher unemployment on the U.S. economy and training programs are needed to avert the damage, the OECD said on Tuesday. The warning from the Organization for Economic Cooperation and Development comes against the backdrop of stalled U.S. jobs growth and an uptick in the unemployment rate in May. In a report on the U.S. economy, the Paris-based OECD estimated the unemployment rate which the economy could sustain without generating inflation at 6. 1 percent, up from 5.7 percent in 2007. In May, the rate stood at 8.2 percent. “However, structural unemployment may well already have risen more than this estimate would suggest, and there is a risk that it could increase still further, given the still high levels of long-term unemployment,” the OECD said. Before the 2007-2009 recession, many economists believed the so-called natural or structural rate of unemployment was around 5 percent. . .”
- OECD Sees U.S. Economic Growth, Stark Challenges, By Michael R. Crittenden, June 26, 2012, NASDAQ: “The U.S economic recovery may be gaining momentum, but the country faces stagnant wage growth, high comparative levels of poverty and income inequality and an educational system that provides few resources to those more likely to need help, the Organization for Economic Cooperation and Development said in a new report. The OECD’s 2012 economic survey of the U.S. found that the U.S. economy has made some gains and is expected to grow moderately this year and next. A further deterioration of the European crisis or the potential for U.S. policymakers to allow for immediate sharp cuts in government spending could jeopardize the outlook, the report said. . .”