1,280 people attended the Golden Globes. 27,000,000 Americans are unemployed or underemployed. 220,041,000 Americans have less than $1,000 in savings. You tell me who lives in a bubble and who lives in reality.
You tell me who’s priveliged and who’s just trying to make ends meet.
An epic awards show in its own right, the Golden Globes requires the construction of a small citadel to house the 1,280 attendees in its ballroom, and the 3,000-odd guests who go to after parties on the property. Add in the 1,400 media credentialed and 800-odd hotel staff, and it becomes a feat of logistics.
Around 27 million workers—roughly one out of every six U.S. workers—are either unemployed or underemployed. Importantly, this is a very conservative measure of the total number of underemployed because it does not include workers who have had to take a job that is below their skill or experience level.
The Great Recession has broken all records related to duration of unemployment. The chart below shows the share of the unemployed who have been jobless for more than six months. This share has been over 40% for all of 2010, far above its prior peak of 26% in the summer of 1983.
Last year, GoBankingRates surveyed more than 5,000 Americans only to uncover that 62% of them had less than $1,000 in savings. Last month GoBankingRates again posed the question to Americans of how much they had in their savings account, only this time it asked 7,052 people. The result? Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.