3Center or American Progress | Economic Snapshot or September 2011
sayed high wih 14.3 percen, compared o 9.6 percen or hose wih a highschool diploma, and 4.3 percen or hose wih a college degree.
Vulnerablegroups have sruggled disproporionaely more amid he weak labor marke o hepas ew years han whie workers, older workers, and workers wih more educa-ion. Bu even hose groups ha are beter han heir counerpars in he weak labor marke suer remendously rom high and long-erm unemploymen.
6. Household incomes continue to drop amid prolonged labor market weak-nesses.
Median inaion-adjused household income—hal o all householdshave more and he oher hal has less—sood a $49,445 in 2010, is loweslevel in inaion-adjused dollars since 1996. I ell again by 2.3 percen in2010, an acceleraed decline afer median income dropped by 0.7 percen in2009. American amilies saw ew gains during he recovery beore he crisishi in 2008 and experienced no income gains during he curren economicrecovery afer 2009.
7. Poverty continues to rise across a wide spectrum.
Te povery rae rose o 15.1percen in 2010—is highes rae since 1993. Te Arican American povery rae was 27.4 percen, he Hispanic rae was 26.6 percen, and he whie rae was 9.9percen in 2010. Te povery rae or children under he age o 18 sood a 22 per-cen. More han one-hird o Arican American children (39.1 percen) lived inpovery in 2010, compared o 35 percen o Hispanic children and 12.4 percen o whie children.
Te prolonged economic slump ollowing an excepionally weak labor marke beore he crisis has aken a massive oll on he mos vulnerable.
8. Employer-provided health insurance benefits continue to disappear.
Te shareo people wih employer-provided healh insurance dropped rom 65.1 percenin 2000 o 55.3 percen in 2010. Tis is he lowes share since 1987 when heCensus sared o rack hese daa.
Families’ income woes are hus urherexacerbaed by less access o aordable healh insurance since amilies will haveo save more han in he pas o prepare or evenual economic emergencies.
9. Family wealth losses linger.
oal amily wealh is down $12.8 rillion (in 2011dollars) rom June 2007—is las peak—o June 2011. Home equiy says low,such ha homeowners on average sill own only 38.6 percen o heir homes, wih he res owed o banks.
Tis is he lowes share on record, going back o1952. Households, already sruggling wih low incomes in a weak labor marke,consequenly eel growing pressures o save more and consume less. Te per-sonal savings rae increased rom 2.3 percen o afer-ax income in June 2007