Jeff Madrick, Our Crisis of Bad Jobs
"When one counts all those looking for full-time jobs and unable to get them, the true unemployment rate is close to 17 percent. Median household income—the midpoint income of all American households—was reported by the Census Bureau (whose data is a year or so behind) to be down in 2011 compared to 2010. At 15.1 percent—some 46 million people—the proportion of Americans in poverty is now at its highest level since 1993."
Photo: Mercedes-Benz car show, Washington DC, 2005 (Bruce Gilden/Magnum Photos)