Homeless Children: the Hard Times Generation | Orlando, Florida | CBS News: 60 Minutes
(CBS News) This story was first published March 6, 2011. It was updated on June 20, 2011.
Unemployment continues to hover around nine percent and job creation is so slow, it’ll be years before we get back the seven and a half million jobs lost in the Great Recession. American families have been falling out of the middle class in record numbers.
The combination of lost jobs and millions of foreclosures means a lot of folks are homeless and hungry for the first time in their lives. One of the consequences of the recession that you don’t hear much about is the record number of children descending into poverty. The government considers a family of four to be impoverished if they take in less than $22,000 a year. Based on that standard, and the government projections of unemployment, it is estimated that the poverty rate for kids in this country will soon hit 25 percent.