The Devastating Impact of the Great Recession on the American Poor

The Great Recession, which began in December 2007 and ended in June 2009, was the worst economic downturn since the Great Depression. It had a devastating impact on the American economy, leading to widespread job losses, foreclosures, and bankruptcies. The poor were hit particularly hard by the recession, as they were more likely to lose their jobs, homes, and health insurance. They were also more likely to experience food insecurity and health problems.

America's Poor and the Great Recession

by Kristin S. Seefeldt

5 out of 5

Language	:	English
File size	:	3195 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	213 pages
Lending	:	Enabled

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Unemployment

The unemployment rate in the United States peaked at 10% in October 2009. This was the highest unemployment rate since the Great Depression. The poor were disproportionately affected by unemployment, as they are more likely to work in low-wage jobs that are more vulnerable to layoffs. In addition, the poor are less likely to have access to unemployment benefits, which can help to cushion the blow of job loss.

Poverty

The poverty rate in the United States increased from 13.2% in 2007 to 15.1% in 2010. This was the highest poverty rate since 1993. The poor were more likely to experience poverty for multiple years, as they were less likely to find new jobs or increase their income. In addition, the poor are more likely to live in high-poverty neighborhoods, which can make it difficult to escape poverty.

Homelessness

The number of homeless people in the United States increased by 20% during the Great Recession. The poor were disproportionately affected by homelessness, as they are more likely to live in affordable housing that is more vulnerable to foreclosure. In addition, the poor are less likely to have access to social services that can help to prevent homelessness.

Food Insecurity

The number of food-insecure people in the United States increased by 50% during the Great Recession. The poor were disproportionately affected by food insecurity, as they are more likely to have limited access to food. In addition, the poor are more likely to live in areas with limited access to grocery stores and other food outlets.

Health Problems

The Great Recession led to an increase in health problems among the poor. The poor were more likely to experience mental health problems, such as depression and anxiety. They were also more likely to experience chronic health problems, such as heart disease and diabetes. In addition, the poor are less likely to have access to health insurance, which can make it difficult to get the care they need.

The Long-Term Impact of the Great Recession

The Great Recession had a lasting impact on the American poor. Many of the poor have yet to recover from their losses. The unemployment rate remains high, and wages have not kept pace with inflation. The poverty rate has also remained high, and the number of homeless people has not decreased significantly. In addition, the poor continue to experience food insecurity and health problems at higher rates than the non-poor.

The Great Recession had a devastating impact on the American poor. Unemployment, poverty, and homelessness all increased significantly during this period. The poor were also more likely to experience food insecurity and health problems. The effects of the Great Recession are still being felt today, as many of the poor have yet to recover from their losses.

America's Poor and the Great Recession

by Kristin S. Seefeldt

5 out of 5

Language	:	English
File size	:	3195 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	213 pages
Lending	:	Enabled

FREE