REPORT EMBARGOED until 12:01 a.m. 12.16.11
BALTIMORE, Dec. 13, 2011 --
What: Teleconference regarding "The State of Working Maryland 2011," a report embargoed until 12.16.11, 12:01 a.m., advance copy at http://marylandpolicy.org/dnn/SOWMD2011.aspx
When: 12.15.11 - 11:30 a.m.
Where: Call #: 866.740.1260; Passcode: 4382348
Who: The Maryland Budget & Tax Policy Institute
As the Great Recession drags on in Maryland and across the country, the state's working families face continuing, severe challenges to their economic stability and overall wellbeing.
The Maryland Budget & Tax Policy Institute has compiled and analyzed a wealth of statistical information pointing to the deteriorating situation, and necessary governmental responses. Though Maryland now tops the country in number of millionaires (as measured by wealth), poverty has grown in the state, and is concentrated in both urban and rural areas.
Select findings
- Over the last decade, the rate of poverty inMarylandhas risen from 7.4 percent in 2000 to 9.1 percent in 2010, and for some populations poverty is much higher: 13.6 percent for African-Americans, and 12.8 percent for Marylanders of Hispanic descent. Baltimore City's poverty rate exceeds 20 percent.
- Maryland's unemployment rate remains stuck at 7.4 percent the highest level since 1983 - and twice the level prior to the Great Recession. Getting and staying employed has become more difficult not only because of the difficult economic climate and paucity of jobs, but because work supports (such as childcare) have become less accessible; a waiting list for childcare support vouchers now looms.
- Climbing up the income ladder has become more difficult as college affordability has waned. Over the past decade, in-state tuition costs at 4-year colleges have risen from 6.7 percent to nearly 10 percent of median family income.
- Since 2000, median household income inMaryland has been flat, but income inequality has risen substantially. Maryland millionaires continue to do well, while others in the state struggle.
Solutions
Maryland must invest to spur job growth. The investments must be in human capital as well as infrastructure. State and local governments must help individuals become ready for work with appropriate training, and help them negotiate existing barriers to work, such as a lack of childcare or readily available transportation. Education must be a priority from pre-school to post-secondary.
Contacts: Neil Bergsman, 443.926.3039, nbergsman@mdnonprofit.org; Sharon Rubinstein, 703.901.7947, serubins@aol.com
/PRNewswire-USNewswire -- Dec. 13, 2011/
SOURCE Maryland Budget and Tax Policy Institute
