Final answer:
The 'working poor' are individuals who hold jobs yet live below the poverty line due to low wages and lack of benefits. Factors such as part-time employment, lower education levels, and having children can increase the risk of falling into this category. The situation varies widely globally, but the commonality lies in the struggle to afford basic necessities despite being employed.
Step-by-step explanation:
The term 'working poor' refers to individuals who are employed yet live below the poverty line. These are workers who often engage in unskilled, low-paying jobs, and typically their positions do not provide benefits like healthcare or retirement planning. Moreover, their employment may be seasonal or temporary, further exacerbating their financial instability. The Bureau of Labor Statistics defines the working poor as those who have worked or looked for work for at least 27 weeks in a year but remain below the established poverty threshold.
Several factors contribute to the likelihood of being classified as working poor, including working part-time versus full-time, educational level, and family composition. People with higher education levels are less likely to be among the working poor. In contrast, having children, especially without support, significantly increases the chances of falling into this category. Despite full-time employment, these individuals struggle to afford basic necessities and live with economic uncertainty.
The concept of being poor can vary widely depending on geographic and personal contexts. While a New Yorker with a stable job might feel poor compared to wealthier peers, their situation differs drastically from those facing extreme poverty in regions like Sub-Saharan Africa or South Asia. Regardless of the relative differences, the working poor share the common characteristic of working hard but still living with the constant challenge of making ends meet.