- Category: Questions and Commentary
Last week, Washington, and talking heads, greeted October's jobs report with a fanfare and proof of teh "recovery." But today, five years after the economy officially went into “recovery,” three million people remain among the ranks of the long-term unemployed — jobless for 27 weeks or more. That number is down from its 2010 peak, but as the Economic Policy Institute’s David Cooper noted earlier this year, it still “far exceeds pre-Great Recession levels in virtually every state.”
picture is worth a thousand words. The United States isn't quite the lowest, but we're pretty damn close.
The rich keep getting richer, and by next year, just a handful of the upper-class will have accumulated more than half of the world's wealth. Oxfam was able to determine that the richest 1 percent of the world's population currently controls 48 percent of the world's total wealth.
If trends continue, Oxfam predicts that the most-affluent will possess more wealth than the remaining 99 percent by 2016, The New York Times reported.