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The Great Depression was the worst economic crisis in US history. More than 15 million Americans were left jobless and unemployment reached 25%.
Extreme poverty [a] is the most severe type of poverty, defined by the United Nations (UN) as "a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. It depends not only on income but also on access to services". [1]
Russian President Boris Yeltsin's IMF-backed rapid privatization and austerity policies resulted in unemployment rising to double digits and half the Russian population falling into destitution by the early to mid 1990s. [100] By 1999, during the peak of the poverty crisis, 191 million people were living on less than $5.50 a day. [101]
Rural poverty refers to situations where people living in non-urban regions are in a state or condition of lacking the financial resources and essentials for living. It takes account of factors of rural society, rural economy, and political systems that give rise to the marginalization and economic disadvantage found there. [1]
The World Bank Group is the globe’s most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people. Read more »
While some states saw a huge increase, others kept poverty rates at pre-pandemic levels — largely because they provided unemployment benefits to a higher share of their populations.
Controversial educational psychologist Ruby K. Payne, author of A Framework for Understanding Poverty, distinguishes between situational poverty, which can generally be traced to a specific incident within the lifetimes of the person or family members in poverty, and generational poverty, which is a cycle that passes from generation to ...
Black unemployment: Record low set in 2023 under Biden. The record low for the Black or African American unemployment rate, 4.8%, was set under Biden in April 2023. That beat the Trump-era low ...