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Monday, April 2, 2012

Ranks of Working Poor Grow in Europe

While the NYT's description of the U.S. economic system as "laissez-faire" is beyond ludicrous, the article does indeed reinforce the harsh reality that Europe's cradle to the grave entitlement state is a big fail. Human misery is piling up everywhere in the west and folks living in tent cities while working low paying jobs will become the new normal.
Europe’s long-running euro crisis may be cooling. But the economic distress it has left in its wake is pushing a rising tide of workers into precarious straits in France and across the European Union. Today, hundreds of thousands of people are living in campgrounds, vehicles and cheap hotel rooms. Millions more are sharing space with relatives, unable to afford the basic costs of living. These people are the extreme edge of Europe’s working poor: a growing slice of the population that is slipping through Europe’s long-vaunted social safety net. Many, particularly the young, are trapped in low-paying or temporary jobs that are replacing permanent ones destroyed in Europe’s economic downturn. Now, economists, European officials and social watchdog groups are warning that the situation is set to worsen.
Read the rest here
The New York Times