Economic Security in the New Economy

Addressing poverty and economic security takes on greater urgency in the new economy. Employment for millions is now less secure than at any point in the post-World War II era. Jobs are increasingly unlikely to provide health care coverage and guaranteed pensions. The typical U.S. worker will change jobs numerous times over his or her working years and must adapt to rapid technological change. One quarter of all jobs in the U.S. economy do not pay enough to support a family of four above the poverty line. It is in our nation’s interest that those jobs be filled and that employment rates be high. It is not in our nation’s interest that people working in these jobs be confined to poverty.

And too often, discussions of poverty are treated as if they’re unrelated to the issues facing the middle class. But large numbers of Americans—both low-income and middle class—are increasingly concerned about uncertain job futures, downward pressures on wages, and decreasing opportunities for advancement in a globalized economy. Large numbers of Americans would benefit if high quality early education were more accessible and higher education were more affordable. Large numbers would benefit if more jobs paid enough to support a family. Some issues are distinct, particularly for the smaller group of Americans in long-term, persistent poverty. But much of the agenda to reduce poverty is also one to promote opportunity and security for millions of other Americans, too.