One in five American families suffered a 25 percent or greater decline in available household income this year, according to the new “Economic Security Index.” An analysis by The Rockefeller Foundation and Yale University looked at past and current data to conclude that “economic insecurity for American families in 2009 and 2010 was greater than at any time” in the last 25 years.
According to the Rockefeller foundation:
The Economic Security Index (ESI) measures the share of Americans who experience at least a 25% drop in their available family income whether due to a decline in income or a spike in medical spending or a combination of the two, and who lack an adequate financial safety net to catch them when they fall. A higher ESI therefore indicates greater insecurity, much as a rising unemployment rate signals a faltering economy.
Here are direct links to the studies in Acrobat format:
Economic Security at Risk: Findings from the Economic Security Index
