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Rich Employees Are Recession-Proof, Low Wage Workers Mostly Unemployed and Underemployed

A recent study released by the Center for Labor Market Studies at Northeastern University revealed that the recession is not as encompassing as seems to be — at least, only a certain group of employees actually feel the brunt of it.

Unemployment and underemployment barely affected employees who made $100,000 to $149,000 or $150,000 or more. Meaning the rich stayed just as wealthy while the poor became even poorer.

The study reported that people who made $12,499 or less as well as those who belonged to the group whose wages range from $12,500 to $20,000 make up the majority of those who were unemployed in 2009.

Likewise, the same group of low income earners account for 20.7 percent and 17.2 percent of those who were underemployed.

The study also claimed that employees belonging to the lower-income groups are 13 times more likely to be underemployed than those who are earning top dollar.

Unfortunately, there really is some truth to the saying that the rich get richer and that the poor only get poorer. Blue collar jobs, such as those in the construction industry are few and far in between and lower wage employees have really struggled to find new jobs.

But just as they say that “Those who have less in life should have more in law”, out of work employees may avail of state or federal benefits such as unemployment insurance, SSI, SSDI, in order to help make ends meet.

Posted in Economy, Unemployment Issues, Work Trends.

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