The Jewish Chronicle

Hidden threat of the credit crunch

August 7, 2008 23:00

By

Antony Lerman

3 min read

In these tough financial times we need to rediscover what ‘community' really means

 

Will the credit crunch have a negative impact on Jewish lifestyle choices? On the face of it, not much. The most recent data we have on the socio-economic profile of British Jews, from JPR's surveys and analysis of census data, shows them to be "a relatively affluent group of people with middle-class values and middle-class lifestyles". Although this evidence is about a decade old, nothing has slowed the "continued upward mobility of Jews and their entry into the highest employment echelons of the British work environment".

All this would appear to add up to a group with the time and disposable income to cope easily with the demands of fee-paying Jewish schools, synagogue membership, bar/batmitzvah and wedding celebrations and a high level of participation in Jewish leisure activities. A community well-cushioned to weather the storms.

And yet... While these characterisations of the socio-economic profile of the Jewish population are not untrue, they mask significant disparities. For example, there are probably upwards of 3,500 UK Jewish children living in poverty - and that was before the credit crunch. That's 4-6 per cent of Jewish children - a statistic that sits uncomfortably with images of overall affluence. The increased price of food and other household basics, as well as dramatically higher energy bills, will be having a major impact on Jewish lifestyle choices. And during the last year, more families will have undoubtedly slipped into poverty.

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