Socioeconomic Status Socioeconomic Status SES is estimated as

Socioeconomic Status § Socioeconomic Status (SES) is estimated as a composite of income, education level, work experience, and the prestige or status of your job § It is your position in society and social position in relation to others § Social class is more than just income and money

Does Poverty Inhibit Success?

Socioeconomic Status

Socioeconomic Status

Social Class § Group of people who share a similar economic position in society, based on wealth and income § Divisions based on ties to the economy of a society § Commonly known as the following § Upper Class § Middle Class § Working Class

Social Class

Upper Class § This is the most discussed group at 1% of the population § Families headed by high-level executives, lawyers, doctors, scientists, celebrities, etc. § Education system and media both play important roles in perpetuating and reproducing the United States class structure

Upper Class § This is the most discussed group at 1% of the population… § To be among the top 1% of U. S. earners, a family needs an income of $421, 926. Although this varies by state. § Idaho § Annual income required to be in the top 1%: $314, 532 § Average annual income of the top 1%: $829, 268 § California § Annual income required to be in the top 1%: $514, 694

Middle Class § Important in defining the United States culture as they are 40 -50% of the population § Other classes are measured against the values and norms of the middle class § Middle class people worry about § Job Security § Taxes § Unemployment § Cost of Living § Health Care

WORKING CLASS (LOWER-CLASS) § More susceptible to downturns in economy § Lower levels of education § Job loss through downsizing § Hourly wage jobs § Often define their jobs as irrelevant to their core identity § View job as sacrifice for family § Want better for their kids

WORKING CLASS (LOWER-CLASS) § More susceptible to downturns in economy § Service industry workers (fast food, car wash, etc. ) § Lower levels of education § Often define their jobs as irrelevant to their core identity § View job as sacrifice for family § Want better for their kids

The Poor (Underclass) § Poverty usually pervades all aspects of their life with and uncertainty of shelter, food, and employment § Most publicly visible consequence of poverty is homelessness § Between 2. 3 and 3. 5 million people experience some type of homelessness over the course of a year § Typical poor family spends about 60% of after-tax income on housing § Average middle-class homeowner about 23% § Experience barriers to health care and education

Poverty § Absolute Poverty – Not having the minimal requirements a human being needs to survive § Relative Poverty – A lesser economic position compared to the living standards of the majority of a given society § Feminization of Poverty – is when women and children make up an increasing proportion of the poor

Poverty § Poverty Line (government calculation) § Amount of yearly income a family needs to meet its basic needs § Developed in 1960 s and is based on amount needed for food times three § In 2020, poverty line for family of four was $26, 200 § Poverty Rate § Percentage of residents in the United States whose income falls below the poverty line is estimated at more than 11. 1% prior to the pandemic.

Growing Income Inequality The United States has greatest income inequality of any industrialized nation

Income Inequality

Social Mobility Movement of people between classes § Horizontal Mobility § Changing jobs within the same class § Vertical Mobility § Occupation moves up or down § Caste System § Does not allow for social mobility

“Benefits of Poverty for Society” § Ready pool of low-wage laborers § Ensures enough people to populate the military § Military personnel in the war in Iraq were disproportionately ethnic and racial minorities from poor or workingclass families § By 2006, 34% of the U. S. military personnel killed in Iraq came from the poorest quarter of families, while 17% came from the richest quarter

“Benefits of Poverty for Society”