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Posts Tagged ‘Pew Research Center’

America’s Poorest Neighborhoods Lost 91 Percent Of Their Wealth During The Great Recession: Report

Posted by Ram Kumar Shrestha on November 15, 2012


Comment: One Nepali poet wrote, “God, kindly give me more trouble if you really love me”

Families living in poor neighborhoods lost almost everything during the Great Recession, potentially making it more difficult for them to gain a better life in the future, according to a recent report.

Households living in high-poverty neighborhoods saw a 91 percent decline in their overall wealth over the course of the downturn, according to a recent report from the Pew Charitable Trusts. Though low-income families lost less than their richer counterparts in terms of absolute value during the recession, their loss of wealth was much more extreme as a proportion of their total assets: households in high-poverty neighborhoods saw their net worth drop to $3,000 in 2009 from $32,000 in 2007, Diana Elliott, research manager of Pew’s Economic Mobility Project, told The Huffington Post.

This wealth drop among low-income families could prevent already struggling households from moving up the economic ladder.

“This could have a potential long-term impact upon economic mobility,” Elliott said. Read the rest of this entry »

Posted in International | Tagged: , , , , , , , , , , | 1 Comment »

Asian-American Dilemma: Good News Is Bad News

Posted by Ram Kumar Shrestha on June 28, 2012

Our binary way of thinking about race prevents us from openly discussing the challenges that still exist
Justin Sullivan / Getty Images
JUSTIN SULLIVAN / GETTY IMAGES
Pedestrians walk by an American flag mural in Chinatown on June 19, 2012 in San Francisco, Calif.

Liu’s latest book is The Gardens of Democracy: A New American Story of Citizenship, the Economy, and the Role of Government

Last week, the Pew Research Center released a report called “The Rise of Asian Americans,” offering a portrait seemingly full of good news. Asian Americans, Pew said, are on the whole more educated, affluent and happier than other Americans. They hew more strongly to family values and an ethic of hard work. And, quietly, these 17 million Asian Americans have surpassed Hispanics as the largest and fastest-growing cohort of immigrants to the U.S.

(MORE: Christopher J. Ferguson: What You Need to Know About the New Census Numbers on Hispanic Births) Read the rest of this entry »

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