The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.
Rates of unemployment for the lowest-income families - those earning less than $20,000 - have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression.
U.S. households with income of more than $150,000 a year have an unemployment rate of 3.2 percent, a level traditionally defined as full employment. At the same time, middle-income workers are increasingly pushed into lower-wage jobs. Many of them in turn are displacing lower-skilled, low-income workers, who become unemployed or are forced to work fewer hours, the analysis shows.
I believe I've been saying this for the past two years.
All things being equal, this will get worse under ObamaCare as employers move permanent workers to part-time status, and try to cut down on the number of employees overall. My understanding is that that the largest employer in the US is "small business," not "large business." If so, the "small business" companies will do what they can to keep their full-time employees under the 50-employee threshhold.
But at least more folks are eligible for the ObamaPhone. And, of course, that revenue goes to Verizon, ATT, and Sprint.
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