Lack of retirement assets is a leading cause of poverty among the elderly. Four out of five working households in the U.S. have saved less than one year of income for retirement. Voluntary Employee Retirement Accounts (VERA) would help West Virginians save for their futures.
This report is the seventh in an annual series that examines the state of West Virginia’s economy as it impacts working people. Each year, we examine the latest available data on employment, income, productivity and job quality as well as the immediate economic challenges and opportunities. Read PDF of report.
The themes have varied from year to year with changes in the economy but the basic goal remains the same: to look at what can sometimes seem to be dreary numbers and indicators from the point of view of those who actually do the work.
Everybody Needs Time Off from Work and 227,000 West Virginia Workers Lack Access to Paid Sick Days:
Caring for a sick child, an elderly parent, or ourselves, all of us sometimes need time off from work.
But many workers in West Virginia don’t have any source of income when they must take time off for their own health or to care for their family.
In 2013, poverty remained high in West Virginia. While the state’s economy has grown since the end of the recession, that growth has not been widely shared, as thousands of West Virginians continue to struggle to afford basic necessities like housing, nutritious food, and reliable child care and transportation.