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American poverty figure edges up to 46.5 million | |
(35 minutes later) | |
The number of Americans in poverty rose slightly last year to 46.5 million, according to US Census data, despite a stock market recovery. | The number of Americans in poverty rose slightly last year to 46.5 million, according to US Census data, despite a stock market recovery. |
The figure edged up from 46.2 million in 2011, meaning the national poverty rate remains unchanged at 15%. | |
It is the sixth year in a row that the rate failed to improve, despite the US being out of recession since 2009. | |
The poverty threshold last year was income below $23,492 (£14,700) for a family of four. | |
Some analysts blame the lingering poverty on changing employment patterns and tightening of the social safety net. | |
Many jobs added since the recession have been in the lower-paying services industry, including retail and restaurants. | |
While the Standard & Poor's 500 index gained 16% on a total return basis last year, the Census Bureau report shows median household income remained statistically the same, at $51,017. | |
The bureau also estimated about 16.1 million children and 3.9 million people aged 65 years and older were living in poverty last year. | The bureau also estimated about 16.1 million children and 3.9 million people aged 65 years and older were living in poverty last year. |
John Iceland, a former Census Bureau expert on poverty and a sociologist at Penn State University, called the 2012 number "discouraging". | John Iceland, a former Census Bureau expert on poverty and a sociologist at Penn State University, called the 2012 number "discouraging". |
"This lack of progress in poverty indicates that these small improvements in the economy are not yet being equally shared by all," he told the Associated Press news agency. | |
The poverty threshold is based on income before tax deductions, and takes into account some government benefits, such as unemployment insurance. | |
Such benefits helped keep 1.7 million people outside of the poverty threshold, according to David Johnson, the chief of the Census Bureau's household economics division. | Such benefits helped keep 1.7 million people outside of the poverty threshold, according to David Johnson, the chief of the Census Bureau's household economics division. |
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