May 20, 2014 12:04 pm
If an economic recovery is to be deemed successful, it is reasonable to assume that it shouldn’t leave out entire demographics. However, an article in the New York Times reaches the conclusion that although many at the economic top tier are doing much better, the current recovery is leaving behind core groups of the Democratic base.
For example, although the unemployment rate is down for women, NYT notes that “the number of women employed compared with the total female population is 55.2 percent, actually worse than it was in October 2010.”
And this isn’t just the case for women:
Blacks, whose support for Mr. Obama has been unwavering, have seen their unemployment rate drop from 15.7 percent at the last midterms to 11.6 percent, still high but a considerable improvement. But the rate at which they are employed has barely moved, to 53.8 percent of the black population from 52.4. Black women have seen no improvement in their employment rate.
Blacks also aren’t seeing an improvement in overall incomes:
Income for households in the exact middle of the income distribution declined 4.26 percent from 2009 to 2012, the last year for which data is available. For white households, mean income declined by 2.2 percent. For black homes, the decline was 4.5 percent; for Hispanics, 4.2 percent.
Voters earning less than $30,000 overwhelmingly supported Obama over Romney in the 2012 election, but it is the wealthy in this country who are benefiting the most from the economic recovery, watching their pre-tax income increase over 30 percent during the recovery.