I was asked about this the other day and couldn't believe it what I was hearing. N.J. is one of the wealthiest states in the country, how is it possible that 38% of our population (1.2 million households) fall below the poverty line? It's obvious that poverty affects more than just the stereotypical lazy, shiftless black or Latino welfare Kings and Queens. It affects many of our friends and neighbors as well!
...A new study conducted by the United Way of Northern New Jersey shows an alarming number of New Jersey residents are in Ticehurst’s position. Data compiled by the group show that 38 percent of New Jersey households are struggling to meet basic needs. These households are just scraping by, one lost job or medical emergency away from potential fiscal ruin.
The report, called ALICE (Asset Limited, Income Constrained, Employed), paints a stark picture of how widespread financial hardship like Ticehurst’s is in New Jersey.
While 11 percent of state residents fall below the Federal Poverty Line, which stands at an annual income of $22,811 for a family of four, the report found that when adjusted for cost of living the same family needs nearly triple that -- $61,200 – just to meet a basic survival budget.
In one of the wealthiest states in the country, 1.2 million households fall below this threshold. And while the state’s economy has shown signs of recovery in the wake of the Great Recession, the number of households struggling by the United Way measure increased by about 24 percent from 2007 to 2012, the most recent data available....
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