Report shows rising income inequality while maintaining myth of the middle class – Commentary by Masao Suzuki
San José, CA – In December of 2015 the Pew Research Center released a report on the decline in middle-income Americans, who now make up a minority of the population, down from 60% in the 1970s. Their share of income has fallen even more, from more than 60% in the 1970s to only 43% in 2014, as upper-income households share has risen from 30% to 49% over the same period of time. The Pew report also has other important information on wealth, debt, occupation and education, which were generally not reported in the mainstream corporate media.
San José, CA – In May of 2015, the official unemployment rate was 5.5%, close to the 5.0% rate in December 2007 when the last recession began. But despite what appears to be a recovery in the labor market, wages continue to rise at a very slow rate while profits have soared. In fact, businesses used the recession to continue their restructuring of the labor market in their interests, to the detriment of those who have to work for a living.
San José, CA – On July 2, the Labor Department released its report on the job market for June of 2015. The official unemployment rate fell to 5.3% in June from 5.5% in May, the lowest since the early months of the recession in April 2008. In addition, the payroll jobs report showed a gain of 223,000 in June. With unemployment down and job numbers up, the economic expansion continues.
Growing economic inequality means only the rich are getting richer
San José, CA – On Tuesday, Sept. 16, the Census Bureau released their annual report on income and poverty for 2013. The report showed that the typical household had a small gain in their income for the first time since 2007. The median household income, at $51,939 was still below that of 1996, when adjusted for inflation. It is still down 8% from 2007 and 8.7% less than its peak in 1999.
Washington, DC – Unemployment rates ticked upwards in 30 states, according to an Aug. 18 report from the federal government’s U.S. Bureau of Labor Statistics. Ohio, Maryland and South Carolina had the largest job losses. Mississippi has the country’s highest unemployment rate, at 8%. Meanwhile, Congress is in recess until September.
Minneapolis, MN – About 40 members and supporters of the Twin Cities-based Welfare Rights Committee (WRC) came together here, Aug. 9, to celebrate the two-year battle to raise welfare grants. Speaking to the crowd, members of the WRC talked about some of the key protests and actions from the past year and expressed determination to continue the struggle.
Washington, DC – Senate Majority Leader Harry Reid stated in a June 6 press statement, “It is my hope that Congress can still act on extending unemployment. This vital lifeline is so critical to struggling families in Nevada and throughout the country.”
Washington, DC – House speaker John Boehner (R-OH) still refuses to allow a vote on legislation to restore unemployment compensation to the long-term jobless. In a May 21 statement on job training, Boehner failed to address the predicament of the nearly 3 million workers who have been hit by the failure of Congress to restore Extended Unemployment Benefits.
Washington, DC – Secretary of Labor Thomas Perez urged an immediate vote on bill to extend benefits for the long term jobless in a May 7 letter to Republican House Speaker John Boehner. Perez also stated that he was willing to meet with Boehner to discuss his questions and concerns about the legislation.
