The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Unemployment at the Bottom, Riches at the Top

Mar 1, 2010

The average unemployment rate in the U.S. stands just under 10%. But like everything else in a capitalist society, unemployment is not distributed equally.

According to the Center for Labor Market Studies at Northeastern University, unemployment for the poorest part of the population has been nothing short of catastrophic: about 30%. When underemployment is included, over half of that group are either unemployed or underemployed!

Those making more than $150,000 barely even felt unemployment, with a 3% rate, even in the midst of the crisis.

The wealthy who run this society have skated through the crisis like nothing’s changed.

Of course – they were the ones who caused it!