Census Bureau: Means-Tested Gov’t Benefit Recipients Outnumber Full-Time Year-Round Workers
… Americans who were recipients of means-tested government benefits in 2011 outnumbered year-round full-time workers, according to data released this month by the Census Bureau….
There were 108,592,000 people in the United States in the fourth quarter of 2011 who were recipients of one or more means-tested government benefit programs, the Census Bureau said in data released this week. Meanwhile, according to the Census Bureau, there were 101,716,000 people who worked full-time year round in 2011. That included both private-sector and government workers.
That means there were about 1.07 people getting some form of means-tested government benefit for every 1 person working full-time year round.
It’s hard to see how this can continue.
Adding in the recipients of non-means-tested government programs paints a more detailed picture on the strain government programs place on workers.
When the people who received non-means-tested government benefits from programs such as Social Security, Medicare, unemployment and non-means-tested veterans compensation are added to those who received means-tested government programs such as food stamps, Supplemental Security Income and public housing, the total number of people receiving government benefits from one or more programs in the United States in 2011 climbs to 151,014,000, according to the Census Bureau.
… Nearly 5 years after peak employment occurred in the United States, we are still 2% below levels recorded prior to the recession. 62 months is a staggering number, when one considers that the next closest percent job loss total occurred in the 2001 recession (47 months). In simple terms, never before has it taken the United States economy this long to show 0% job losses after a recession.
Equally unsettling is that at the current anemic rate of job creation that is occurring in the United States, it may be years, not months, before the red line tracking this job loss percentage crosses 0%.
The increase in involuntary part-time workers is a two-fold problem, shrinking tax revenue and amplifying the need for government benefits.
A turnaround may be dependent on the recovery of the country’s “collective confidence”.
In his commentary on the topic, United Capital Funding Corp. Managing Partner Mark Mandula admits “it is difficult to remain optimistic”. But he believes our country “remains the ‘North Star’ of all of the economies in the world”, with no lack of “initiative, a qualified work force or energy”. He thinks the country needs is a restoration of its “collective confidence” before we will see the return of economic prosperity.
Or a turnaround may only happen when we finally run out of other people’s money.
- Lack of jobs may become a problem for the ‘majority of the population’ (Cost of College)
- Too many college graduates are chasing too few college-level jobs (Cost of College)