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  • 1. Poverty Economics
  • 2. What Comes to Mind When you Think of Poverty?
    • In one paragraph, describe what you think it means to live in “poverty.”
    • What would it look like, sound like, be like…etc.
    • Draw a small illustration to display your understanding of poverty.
  • 3. The Poor
    • Census Bureau determines how many Americans live in poverty
    • Poverty Threshold
      • A poor family is one whose total income is less than the amount required to satisfy the family’s minimum needs
      • The income level below which income is insufficient to support a family or household
      • Varies with the size of the family
  • 4. Poverty Rate
    • See chart on p. 346
    • The percentage of people who live in households with income below the official poverty threshold
    • Government decides whom they consider to be poor, and what causes it
    • Depends on
      • Race/Ethnicity
      • Type of Family
      • Age
      • Residence
  • 5. Causes of Poverty
    • Millions of Americans are unemployed
      • Various reasons
        • Health and disability reasons
    • Many poor adults have jobs-”working poor”
      • Low wages and limited work schedule
    • Sometimes minimum wage is not enough
  • 6. Lack of Education
    • Big mistake #1: No High School Diploma
    • Graduates earn about 1/3 more than dropouts
    • College Graduates earn 3 times as much as dropouts
  • 7. Location
    • Most racial minorities are concentrated in the inner cities, far from the higher-wage jobs in the suburbs
    • Most inner city residents do not own cars-rely on public transit
    • Usually earn less than people not living in the inner city
    • Similar obstacles for rural residents
      • Lack of jobs in rural areas
  • 8. Racial and Gender Discrimination
    • White workers generally earn more than minority workers
    • Women currently earn .83 to Men’s $1.00 in the workforce (2007)
    • Inequality results from racial and gender discrimination throughout history
    • This kind is diminishing over time
  • 9. Economic Shifts
    • People who lack education and skills are not very productive workers
      • “ last hired, first fired”
    • First to lose jobs when the economy slows down
    • Ongoing decline of manufacturing jobs and the rise of service and high-technology jobs
    • Aka….High School Education is no longer enough in our changing economy!
    If Frank the Tank can make it into Post-Secondary Education, then YOU can too!
  • 10. Shifts in Family Structure
    • Median household income is about $45,000 a year.
      • Meaning half live above, half live below
    • Divorce is one of the number one causes of poverty
    • Increased number of unmarried/single parents
    • These increased rates lead to more poverty
  • 11. Assignment! (To keep you out of intellectual poverty  )
    • People with few skills and little education are more likely to be unemployed or poor. The contrary is also true.
    • Research what skills and college degrees you think will be the most marketable in the next ten years.
    • Write a newspaper article describing/discussing your findings.
      • Use a catchy headline
      • Use facts
      • Use references (2 resources)
        • Listed at bottom of article (no wikipedia)
      • ½ page typed article
      • Illustration optional but preferred 