Urban Poor And The Great Recession Essay

1036 Words Nov 19th, 2014 5 Pages
Jordan Massey
Urban Poor and the Great Recession One of the biggest impacts on the urban poor in my lifetime, let alone the last five years is the great recession that started in late 2007, early 2008 because of a housing market correction and a subprime mortgage crisis. We will focus on how the great recession affected the urban poor as it relates to William Julius Wilson’s theory. When the great recession hit in late 2007 and into early 2008 because of the hosing market and subprime mortgage crisis it left many Americans scrambling for work. Business had to cut back and layoff employees to cut costs and many of the middle to lower classes were found jobless. According to the Department of Labor, roughly “8.7 million jobs were shed from February 2008 to February 2010, and GDP contracted 5.1%, making the Great Recession the worst since the Great Depression. Unemployment rose from 4.7% in November 2007 to peak at 10% in October 2009.” Since the unemployment rates were high, jobs were extremely scarce and we are still seeing some the affects of that still today. The culture that is taking the direct hit to this is the urban poor, especially in the ghettos. When I personally think of the urban poor, the first culture or neighborhood that comes to mind are ghettos. William Julius Wilson refers to the urban poor as the underclass. The primary issue facing member of the underclass is joblessness reinforced by an increasing social isolation in an improved neighborhood. Wilson…

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