Break out the hobo cake, Americans: the official unemployment rate has fallen to a mere 8.8%. Two hundred and sixteen thousand more of you have jobs now! The down side: you're still paupers.
Cause another new report puts into perspective just how far you, the newly employed in shitty jobs, are from being financially stable:
According to the report, a single worker needs an income of $30,012 a year - or just above $14 an hour - to cover basic expenses and save for retirement and emergencies. That is close to three times the 2010 national poverty level of $10,830 for a single person, and nearly twice the federal minimum wage of $7.25 an hour.
In fact, the poverty level for a family of four is only $22,050. Which is significantly less than it actually takes for a single worker to be financially stable. But let's not get sidetracked from these promising employment numbers. Time for America's broke-ass states to cut unemployment benefits! The recovery is recovering, more or less! Work more and still be poor—but rich in pride!
Enjoy your CEO's record pay, through osmosis!
[Photo: Bob Jagendorf/ Flickr]