NEW YORK (CNNMoney) -- Amid a still struggling economy, more Americans fell below the poverty line last year, according to new census data released Tuesday.
The nation's poverty rate rose to 15.1% in 2010, its highest level since 1993. About 46.2 million people are considered in need.
The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. The Office of Management and Budget updates the poverty line each year to account for inflation.
As for middle-class American families, income fell in 2010. The median household income was $49,445, down slightly from $49,777 the year before.
Overall, median income has changed very little compared to rising consumer prices over the last 30 years. Adjusted for inflation, the middle-income family only earns 11% more than they did in 1980, while the top 5% richest Americans saw their incomes surge 42%.
Amplifying that trend, the bottom 60% of American households saw their income fall last year, while households making $100,000 or more enjoyed a rise in income.
The figures weren't very surprising, given the unemployment rate remained above 9% in 2010 and the number of Americans who have been unemployed for six months or more surged to an all-time high during the year.
First Published: September 13, 2011: 10:13 AM ET
No comments:
Post a Comment