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Social Class, Inequality, & Poverty
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Social class
group of individuals who share a similar socio-economic position based on income, wealth, education, and occupation
stratification
a system that puts categories of people into a hierarchy
income
amount of money an individual earns from employment or investments
wealth
total amount of money that you have, or would have if you sold off all your assets
capitalists
commonly known as the 1%; class that makes money from things they own such as businesses, real estate, stocks, and bonds
upper-middle class
well-educated individuals who typically have jobs as business managers, doctors, lawyers, accountants, and some small business owners
working rich
a subgroup of the upper-middle class that relies on their salaries, rather than inherited wealth, for their class position
middle class
likely to have a high school diploma as well as some college experience; typically work as teachers, nurses, master craftspeople (plumbers, electricians, carpenters), and lower-level managers
working class
have probably only completed high school or a trade school’ typically work as office support (secretaries and administrative assistants), retail sales workers, factory workers, and low-paid craftspeople
working poor
typically employed in insecure and low-wage jobs such as janitorial and cleaning staff, manual labor, landscaping, restaurant support (including fast food, wait staff, line cooks), and other service industries
underclass
work part-time, unemployed, or have inconsistent and unreliable work opportunities; often rely on public assistance to meet basic needs for food, shelter, and clothing
social mobility
movement from an ascribed social class position to a new achieved social class position
upward mobility
movement from a lower social class position to a higher one
downwar mobility
movement from a higher social class position to a lower one
cumulative advantages
advantages that are built up over generations and contribute to social class inequality
racial wealth gap
drastic and growing difference in wealth accumulation between Black and White individuals
meritocracy
belief that personal responsibility and individual efforts are the sole determinants of success
GINI index
statistical measure used to compare inequality across countries
absolute poverty
poverty measure that considers the basic necessities of life such as food, shelter, and clothing; those without these necessities are considered poor
relative poverty
poverty measure that takes into account the relative economic status of people in a society by looking at how income is distributed
poverty threshold
establishes minimum income level required to obtain the necessities of life
high-poverty neighborhoods
census tracks where at least 40% of the population is poor
working poor
people who spent at least 27 weeks in the labor force but whose incomes still fell below the official poverty level
homeless
person who lacks a fixed, regular, and adequate nighttime residence
point-in-time counts
1 night estimates of sheltered and unsheltered homeless populations; occur during the last week of January each year
chronically homeless individual
person with a disability who has been continuously homeless for 1 year or more or has experienced at least four episodes of homelessness in the last 3 years where the combined length of homelessness in those occasions is at least 12 months
sheltered homeless
people staying in emergency shelters, transitional housing programs, or safe havens
unsheltered homeless
people whose primary nighttime residence is a public or private not designated for, or ordinarily used as, a regular sleeping accommodation (for example, the streets, vehicles, or parks)