This article was last updated on April 16, 2022
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According to the latest Censor Board report, 46.3 million Americans are living in poverty, that is, 15.1% of the total population is living in poverty. This is the highest number since the past 52 years. The last time American was hit by such severe poverty was back in 1996.
The poverty line for a family of four is set at $ 22,113 and for an individual is set at $ 11,139.
The economy has been striving to jump out of the recession, since 2007. Even though initiatives for job markets were being taken, on an average, the rate of unemployment had soared high. Speaking about the statistical evidence present in the report, Paul Osterman, a labor economist at MIT said “The results are not surprising given the economy. You would expect with so many people unemployed, the poverty rate would go up. It’s just another sign of what a difficult time this is for so many people.”
According to the report, the rift between the middle and upper class has increased. The 60% of the middle-income households saw their median income decreased to $49,445 while it surged to a 42% increase for those earning $ 100,000 a year.
The report has also shed light on the fact that the children and women are most severely hit. The poverty rate for children below 18 years of age dropped to 22% while 16.2% of women were pushed under the poverty line as opposed to only 14% men. In fact, the male earning members of the family have not seen any growth in their per annum income with their median income remaining stagnant at $49,065.
People living in the south, particularly Mississippi are amongst the real victims. So are the Blacks, then Hispanics and then Asians.
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