Rich people have more jobs than poor people during the tough times, according to another study of the staggeringly obvious.A new study of the United States workforce, which is currently facing national unemployment of about 10%, found there had been no la
Rich people have more jobs than poor people during the tough times, according to another study of the staggeringly obvious.
A new study of the United States workforce, which is currently facing national unemployment of about 10%, found there had been no labour market recession for America's affluent.
In a surprisingly unsurprising conclusion, the study from Northeastern University's Center for Labor Market Studies suggested that poor Americans suffered the most in a tight labour market.
The highest group in the study - with household incomes of $US150,000 or more - had an unemployment rate during the latest quarter of 3.2%.
Down at the other end, the lowest group, which had annual household incomes of $US12,499 or less, had a 30.8% unemployment rate.
The poor were also over-represented in the ‘under-employed’ category. (Probably because the definition of being poor means you’re not making enough money.)
The authors of the study raised concerns that similar trends were seen during the Great Depression, but Private Bin think it’s safe to assume those trends popping up any time the labour market gets tight.
It may be a sad and inevitable fact of the free market system that those at the bottom suffer the most when things go pear-shaped, but another study that points that fact out – and rubbing the poor’s noses in their own misery - isn’t quite as necessary.
