The impact of the recession and inequality on U.S. and Florida workers

That 46.2 million people live in poverty in the U.S. is only one of the most important indicators of the U.S. Census Bureau report released this week.

The Census Bureau reports that 2010 is the fourth consecutive annual increase and the largest number in the 52 years for which poverty estimates have been published.

A Center for American Progress list of the 10 most striking findings from the Census Bureau data includes:

• In 2010, 103.6 million people were living below $44,000 for a family of four (two times the federal poverty line).
• Households in the bottom 20 percent by income saw their incomes fall by 4.5 percent, more than six times as much as the households in the top quintile.
• More young adults (age 25-34) are moving in with their parents: 5.9 million young adults lived with their parents in 2010, up from 4.7 million before the recession.
• Poverty rates among African-Americans and Hispanics, 27.4 and 26.6 percent respectively, are more than double that of whites, which is now 9.9 percent, up from 9.4 percent in 2009.
• For African-American children, the poverty rate is nearly 40 percent, a stark contrast with the poverty rate among white children, which was 12.4 percent in 2010.
• Approximately 1.5 million Americans lost their employer-sponsored health insurance in 2010.

According to American Progress, “millions of Americans continue to cope with the Great Recession’s enduring effects,” a statement that echoes findings issued on Labor Day by the Research Institute on Social and Economic Policy (aka RISEP) at Florida International University.

The RISEP report indicates that:

While certain areas of Florida’s economy have improved, the recession and job losses have meant severe hardship for hundreds of thousands of workers in Florida with wide disparities in the impacts on different groups.

∙ Almost 20% of the labor force was underemployed in 2010, either not working or working less than they want. These workers are more likely to be younger, less educated, male, and African American or Hispanic.

∙ In 2010 49.5% of unemployed workers had been out of work for 6 months or longer. These workers are more likely to be older, high school educated, male, and White non-Hispanic or African American.

The report adds that “job losses also had impacts on other indicators of well-being including poverty and health care coverage.” Poverty and the share of uninsured increased from 2007 to 2009.