- Mark Rahman
The effects of the Great Recession continue to unfold with a vengeance in spite of a “formal” recovery. The unemployment rate is still hovering at over nine percent. Since the beginning of 2007, the number of households relying on food stamps has nearly doubled to 21.4 million. It therefore comes as no surprise that the number of people living in poverty in the United States has reached a rate of 15.1 percent, which is the highest level seen since 1993. Black and Latino workers have been hit the hardest, given capitalism’s long history of institutionalized racism. Blacks have a poverty rate of 27.4 percent and Latinos have a poverty rate of 26.6 percent.