Record poverty last year as household income dips

[marmar]

WASHINGTON (MarketWatch) — A record number of people were in poverty last year as households saw their income decrease, according to data released by the Census Bureau Tuesday demonstrating the weakness of the economy even after the recession ended.

The 46.2 million people in poverty in 2010 was the largest group for the 52 years that estimates have been published, and the number of people in poverty rose for the fourth consecutive year as the poverty rate climbed to 15.1% — the highest since 1993 — up from 14.3% in 2009.

Meanwhile, real median household income in 2010 was $49,445, down 2.3% from the prior year, and below pre-recession levels.

“I would frame this report as giving us a look at whether the so-called recovery that started in June 2009 has had any widespread benefits for American families,” said Larry Katz, a labor economist at Harvard University. ...........(more)

The complete piece is at: http://www.marketwatch.com/story/record-poverty-last-year-as-household-income-dips-2011-09-13

[Shagbark Hickory]

1. Everything's going to plan.

[midnight]

2. K&R

[chill_wind]

3. rec

with sadness.

[NNN0LHI]

4. Census Bureau: U.S. poverty rises to 15.1%, highest since 1983 not 1993

http://content.usatoday.com/communities/ondeadline/post/2011/09/census-bureau-us-poverty-rises-to-151-highest-since-1983/1

Sep 13, 2011

The U.S. poverty rate has risen to 15.1%, the highest since 1983, the U.S. Census Bureau reports.

About 46.2 million people, or nearly one in six, were in poverty, compared with 43.6 million, or 14.3%, in 2009.

The statistics, contained in the report, titled "Income, Poverty and Health Insurance Coverage: 2010," cover 2010, when U.S. unemployment averaged 9.6%, up from 9.3% the previous year.

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Marketwatch proves again why they are untrustworthy. Still carrying water for Reagan.

[Romulox]

5. Remember "green shoots"???

:eyes: :cry:

[chill_wind]

6. Highlignts per the CB site:

Highlights

The data presented here are from the Current Population Survey (CPS), 2011 Annual Social and Economic Supplement (ASEC), the source of official poverty estimates. The CPS ASEC is a sample survey of approximately 100,000 household nationwide. These data reflect conditions in calendar year 2010.

The official poverty rate in 2010 was 15.1 percent — up from 14.3 percent in 2009. This was the third consecutive annual increase in the poverty rate. Since 2007, the poverty rate has increased by 2.6 percentage points, from 12.5 percent to 15.1 percent.

In 2010, 46.2 million people were in poverty, up from 43.6 million in 2009—the fourth consecutive annual increase in the number of people in poverty.

Between 2009 and 2010, the poverty rate increased for non-Hispanic Whites (from 9.4 percent to 9.9 percent), for Blacks (from 25.8 percent to 27.4 percent), and for Hispanics (from 25.3 percent to 26.6 percent). For Asians, the 2010 poverty rate (12.1 percent) was not statistically different from the 2009 poverty rate.1

The poverty rate in 2010 (15.1 percent) was the highest poverty rate since 1993 but was 7.3 percentage points lower than the poverty rate in 1959, the first year for which poverty estimates are available.

The number of people in poverty in 2010 (46.2 million) is the largest number in the 52 years for which poverty estimates have been published.

Between 2009 and 2010, the poverty rate increased for children under age 18 (from 20.7 percent to 22.0 percent) and people aged 18 to 64 (from 12.9 percent to 13.7 percent), but was not statistically different for people aged 65 and older (9.0 percent).2

http://www.census.gov/hhes/www/poverty/about/overview/index.html