Wednesday, September 14, 2011

One in six Americans now officially poor as poverty rate climbs to 27-YEAR high

The number of Americans in poverty has jumped to an incredible 27-year high, with almost one in six people now falling into the bracket.
More than 46 million people, or 15 per cent, are in poverty - which is up from 44 million, or 14 per cent, in 2009, the Census Bureau said.
The report highlights the huge economic challenges facing President Barack Obama and Congress as they battle to save the U.S. economy.
Poverty: Jalinh Vasquez holds her sister Jayshel Barthelemy in Louisiana. The number of Americans in poverty has jumped to an incredible 27-year high
Poverty: Jalinh Vasquez holds her sister Jayshel Barthelemy in Louisiana. The number of Americans in poverty has jumped to an incredible 27-year high
  Rising: More than 46 million people, or 15 per cent, are in poverty - which is up from 44 million, or 14 per cent, in 2009, the Census Bureau said
Rising: More than 46 million people, or 15 per cent, are in poverty - which is up from 44 million, or 14 per cent, in 2009, the Census Bureau said
The number of people lacking health insurance increased to 50 million, which is a new high after revisions were made to 2009 figures.
Losses were due mostly to working-age Americans who lost employer-provided insurance in the weak economy.
Main provisions of the health overhaul do not take effect until 2014.
But one aspect taking effect in late 2010 allowed young adults 26 and younger to be covered under their parents' health insurance.
The poverty level is now at its highest level since 1983 and the rise was the third poverty rate increase in a row.
The statistics released on Tuesday cover 2010, when U.S. unemployment averaged 9.6 per cent - up from 9.3 per cent the previous year.
Big issue: Condita Duplessis sits with granddaughter Kimora Barthelemy in their trailer in Louisiana. President Obama has a huge jobs problem to solve
Big issue: Condita Duplessis sits with granddaughter Kimora Barthelemy in their trailer in Louisiana. President Obama has a huge jobs problem to solve
  Going up: The number of people lacking health insurance increased to 50 million, which is a new high after revisions were made to 2009 figures
Going up: The number of people lacking health insurance increased to 50 million, which is a new high after revisions were made to 2009 figures
The median household income was $49,445, a 2.3 per cent fall from 2009.
The 46.2 million people in poverty in 2010 represents the largest number in 52 years since estimates began, reported MNSBC.
Reflecting the recession's lingering impact, the poverty rate from 2007 to 2010 has risen faster than any three-year period since the early 1980s.

The U.S. poverty files

  • Poverty rate and totals
    2010: 46.2 million (15.1%)
    2009: 43.6 million (14.3%)
  • People without healthcare
    2010: 49.9 million (16.3%)
    2009: 49.0 million (16.1%)
  • Average household income
    2010: $49,445
    2009: $50,599
  • U.S. unemployment levels2010: 9.6 per cent
    2009: 9.3 per cent
At that time a crippling energy crisis amid government cutbacks were contributing to inflation, spiraling interest rates and unemployment.
Bruce Meyer, of the University of Chicago, cautioned that the worst may yet to come in poverty levels.
He cited rising demand for food stamps as well as 'staggeringly high' numbers in those unemployed for more than 26 weeks.
Meawhile, it was revealed poverty rose among all race and ethnic groups except Asians - and child poverty went up from 21 per cent to 22 per cent.
Poverty among people aged 65 and older was statistically unchanged at nine per cent, after hitting a record low of 8.9 per cent in 2009.
The U.S. poverty rate is only lower than three countries in 34 tracked by the Organization for Economic Cooperation and Development in France.
The Census Bureau report coincides with President Obama's push for a $450billion job creation package as he faces flagging job approval ratings.

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