by Michael Snyder
The Economic Collapse Blog
In modern times, there has never been a Christmas like this in America. Millions are freshly unemployed, another wave of lockdowns is forcing countless businesses to close their doors, and people are waiting in line for hours at food banks all over the nation just to get a little bit of food for their families. Of course those at the bottom end of the economic food chain are being hit the hardest. It is being reported that employment among those that make $27,000 a year or less is down 20 percent from pre-pandemic levels. That is an extremely shocking number, and it helps to explain why the number of Americans living in poverty rose to 52 million during the month of November.
But it isn’t just the unemployed that are suffering. Many of those that are still working have had their hours cut or they aren’t able to make as much in tips, commissions or bonuses as they did prior to the pandemic.