US Poverty Decreases

The US Census Bureau released data that shows a broader recovery is finally occurring. All income and minority classes are seeing improved income. Median income is back to where it was in 2007, $56,500; which is up at least 4% for most groups.

“Meanwhile, the number of people living in poverty dropped by 3.5 million, falling from a bit under 15 percent in 2014 to 13.5 percent in 2015, the largest dip since 1967. More than 8 million families were in poverty last year, down from 9.5 million in 2014.” – Mother Jones

The gains are best for rich city dwellers. Poor and rural people are one of the few groups where income declined, about 2%. Despite the increases, the poor are still making less than before the Great Recession (the Second Great Depression) while the rich have experienced a 6% rise since then. The general picture is good, but income inequality continues and continues to grow.

(Click on the map for the link.)

“Incomes Are Up And Poverty Is Down” – Mother Jones