|Issue of the Day Posts Tagged ‘Income’|
Real Median Income Gained as Poverty Held Steady in 2007
Published Friday, July 24th, 2009 by Lacey Loftin
The new report on the US official poverty rate released by the US Census Bureau called “Income, poverty and health insurance coverage in the United States: 2007” has stated that real median household income in the United States climbed 1.3% between 2006 and 2007, reaching $50,233. The US official poverty rate in 2007 was 12.5% (37.3 million), which is steady from 2006 (36.5 million). This and other influences has lead the number of people without health insurance coverage to decline from 47 million (15.8%) in 2006 to 45.7 million (15.3%) in 2007.
Broken down, minorities also gained in real median income adjusted for inflation, which rose between 2006 and 2007 for black ($33,916 in 2007) and non-Hispanic white households ($54,920 in 2007), the first such increase since 1999. However, for Asians ($66,103 in 2007) and Hispanics ($38,679 in 2007) real income did not change. The family poverty rate and the number of families in poverty were 9.8% and 7.6 million, unchanged from 2006. As for Female-householders/No-Husband-Present the rate was 28.3% (a decrease of 2.8 percentage points) and 13.6% for those with male householder and no-wife-present. The US Office of management and budget has updated the weighted average poverty threshold for a family of four in 2007 as $21,203, for a family of 3 at $16,530, 2 at $13,540, and 1 at $10,590.