Technically the Recession is Over, Tangibly It Isn't
Sep 29, 2010
By Jenice R. Robinson
Just yesterday, the U.S. Census Bureau released its annual American Community Survey revealing that the income gap between rich and poor is the widest since the Census began tracking household income in 1967.
This revelation comes less than two weeks after another Census survey revealed a record number of Americans, 43.6 million, live at or below the federal poverty level and millions more are low-income and live near poverty. At the same time, unemployment hovers persistently near 10 percent, its highest level in a generation, and a record number of households (one in 10) meets their nutritional needs with Food Stamps.
While the National Bureau of Economic Research (NBER) says the recession officially ended in June 2009, it clearly is not over for a significant percent of people who struggle to meet their basic needs. Watch Jodie Levin-Epstein in the above Sept. 29 MSNBC clip discussing why the recession is not over for millions of people.