News, analysis and personal reflections on the markets & the financial sector

Thursday, September 16, 2010

Poverty rates jump to record in U.S.

The poverty rate in the United States rose to 14.3% in 2009, the highest since 1994, up from 13.2% in 2008, the Census Bureau reported Thursday. A record 43.6 million Americans were in poverty last year. Meanwhile, real median household income in 2009 was $49,777, not statistically different from the prior year. Real median income fell 1.8% for family households, and rose 1.6% for nonfamily households.

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