Globalization, fallout from the Financial Crisis and continued lackluster economy have put a dent in the prosperity of many Americans.
The disappearance of good-paying, long-term jobs is putting increased strain on the U.S. middle class, according to a new survey conducted by the Associated Press. The survey paints an increasingly bleak picture of American’s dwindling economic opportunities and a growing reliance on welfare programs.
Among the findings of the AP survey:
- 46.2 million Americans — 15% of the population — are classified as poor.
- 79% — 4 out of 5 of adults — will from face risk of economic insecurity (joblessness or dependence on welfare) as they age.
- By 2030, 85% of all adults will face periods of economic insecurity.
- 19 million white Americans currently live below the poverty line.
- 63% of white Americans called the economy “poor.”
- Marriage rates are declining across all racial groups.
- Out-of-wedlock births are rising among whites.
The data collected by the AP showed that racial gaps in poverty and economic insecurity between racial groups have narrowed over the past four decades as the economic insecurity has grown among white Americans.