Bloomberg: Ranks of Poor Americans at Record High Even with Aid
The ranks of poor Americans remained at a record high number last year, even aftergovernment-aid programs such as food stamps, housing vouchers and heating subsidies were included, the U.S. Census Bureau said today.
The bureau said 49.7 million Americans, or 16.1 percent, are in poverty, up from 49.1 million, or 16 percent, in 2010, according to a new measure the government is using to supplement the official figures released in September. The new method, designed to offer a more comprehensive measure of poverty, includes government aid as income, while subtracting child-care costs, work-related expenses and medical out-of-pocket fees.
The 2007-2009 recession cut most deeply into the wealth of people in poor neighborhoods, according to a separate report released today by the Pew Research Center’s Economic Mobility Project.
Read the full article at bloomberg.com.
- Economic Mobility Project