The financial crisis and ensuing recession took a toll on just about everybody’s household wealth. Not surprisingly, the pain wasn’t evenly distributed. Those groups that are usually the most vulnerable in our society—young and middle-aged minority households—suffered the most, percentage-wise.
Official poverty rates are on the rise in the United States. But does this necessarily mean that more people can’t meet their basic needs? This article examines how poverty is calculated and looks at the criticisms of these measures.
Conventional wisdom says that employment at small firms declines more than employment at large firms during recessions. However, that doesn’t seem to have been the case during the Great Recession of 2007-09.
Susan C. Thomson
Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.