In the News: Income Up, Poverty Down Across the U.S.Poverty & Family Economics
Income Up, Poverty Down Across the U.S. (Philadelphia Inquirer)
Life improved overall in America in 2016, as income rose while poverty decreased, and the percentage of people without health insurance coverage declined.
Median household income in the United States was $59,039 in 2016, up 3.2 percent over $57,230 in 2015, according to figures released Tuesday morning by the U.S. Census Bureau.
During that same period, the poverty rate decreased from 13.5 percent to 12.7 percent, meaning that 2.5 million fewer people were living in poverty in 2016 than 2015. Overall, 40.6 million Americans were living in poverty in 2016, down from 43.1 million in 2015, census figures show. The federal poverty rate for a family of four is around $24,000 annually.
The percentage of people without health insurance coverage in 2016 was 8.8 percent, down from 9.1 percent in 2015.
The findings come from two reports titled… [Read More]