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sep 27 - Week 6: Strategies for Survival ...

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Unformatted text preview: Week 6: Strategies for Survival Sept. 27, 2010 Defining and Measuring Poverty Underestimated • Official poverty income thresholds: 3x the income needed to maintain an because it doesn’t economy food plan (Changes with inflation) count government • Current threshold for family of 4: $21, 832; 1 adult, 3 kids (Varies on how aid. Also doesn’t many adults/children) consider the place • Annual earned income at current minimum wage ($7.25): %15, 080— 69% in which money is below the poverty threshold being spent. Trends: # in Poverty and Poverty Rates (1959 ­2008) • As population increases, poverty increases Explaining Trends in Poverty Rates: Placing Poverty in Context • Labor Market Conditions (Poverty is explained by integrating the three) 1. Unemployment rates⇑, poverty ⇑ 2. Median wages ⇑, poverty ⇓ 3. Inequality • Government Intervention o New Deal Policies Social Security Act Unemployment Benefits o Lyndon B. Johnson’s Society Programs Upward Bound Head ­Start • Demographic Trends o Movement of women out of the house and into the workforce ...
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