Wednesday, March 30, 2011
"#3 There are now more than 6 million Americans that the government says have given up looking for work completely."
The following are 22 jaw dropping statistics about the financial condition of American families....
#1 In 2010, one out of every eight American families had at least one family member that was unemployed. In fact, the figure for 2010 was the highest it has been since the U.S. Labor Department began keeping track of this statistic back in 1994.
#2 According to the Bureau of Labor Statistics, more than 8 million Americans are working part-time jobs because they can't get full-time jobs.
#3 There are now more than 6 million Americans that the government says have given up looking for work completely.
#4 After accounting for inflation, the average income for an American family has fallen 5 percent since the year 2000.
#5 According to the New York Times, as of 2009 the wealthiest 5 percent of all Americans had 63.5 percent of all the wealth in America. Meanwhile, the bottom 80 percent had just 12.8 percent of all the wealth.
#6 During this most recent economic downturn, employee compensation in the United States has been the lowest that it has been relative to gross domestic product in over 50 years.
#7 According to the Federal Reserve, between 2007 and 2009 median household net worth in the United States fell by 23 percent.
#8 The Federal Reserve also says that median household debt in the United States has risen to $75,600.
#9 Total U.S. credit card debt is more than 8 times larger than it was just 30 years ago.
#10 Today, 46% of all Americans carry a credit card balance from month to month.
#11 Of U.S. households that have credit card debt, the average amount owed on credit cards is $15,788.
#12 Americans now owe more than $887 billion on student loans, which is even more than they owe on credit cards.
#13 A staggering 25 percent of all American adults now have a credit score below 599.
#14 When you adjust wages for inflation, middle class workers in the United States make less money today than they did back in 1971.
#15 American workers that are unemployed are nearly twice as likely to have been told by a doctor or a nurse that they suffer from depression.
#16 In 2010, for the first time ever more than a million U.S. families lost their homes to foreclosure, and that number is expected to go even higher in 2011.
#17 According to RealtyTrac, one out of every 45 U.S. households was hit with a foreclosure filing in 2010.
#18 U.S. home values have fallen an astounding 6.3 trillion dollars since the peak of the real estate market. Most of that pain has been felt by ordinary American families.
#19 Approximately half of all American workers make $25,000 a year or less.
#20 According to a survey released very close to the end of 2010, 55 percent of all Americans are now living paycheck to paycheck.
#21 1.5 million Americans filed for bankruptcy in 2010. That represented the fourth yearly increase in bankruptcy filings in a row.
#22 As 2007 began, only about 26 million Americans were on food stamps, but today over 44 million Americans are on food stamps which is an all-time record high.