Bread for the World is encouraged by this significant improvement, but points out that 43.1 million Americans are still living in poverty.
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For middle-class workers, there has been an increase in employment and modest wage growth.
Census Bureau statistics released Tuesday showed that overall USA poverty was at its lowest level since 2008. Households at the bottom 10% of the economic ladder benefited most, with income increasing 7.8% increase past year, while the top 10% in income posted a 2.9% gain.
The Census Bureau reported some remarkably good news on Tuesday about the US economy, which also happens to be good news for certain classes of real estate, particularly retail, hospitality and healthcare space. The median is the point where half of households fall below and half are above.
Homeless people in Los Angeles.
These facts prove Trump’s opinion about the American economy is another statement based on his beliefs and not facts because he did not take into consideration that the numbers could actually improve.
Even so, median household income remains 2.4 percent below the peak it reached in 1999, when it was $57,909.
Which brings us to California, where the good news on wage growth was tempered by a troubling reality. In reports released Tuesday, the agency said the poverty rate (before considering social safety net benefits) was 13.5 percent, a drop of a little over 1 percent from the year before. But the 2015 gain was bigger than expected, and the trends are strong.
Americans finally got a raise last year after eight years of stagnating incomes. SNAP (formerly known as food stamps) kept 4.6 million people out of poverty in 2015, including 2 million children, and the school lunch program reduced poverty by 0.4 percent.
This increase was analyzed from different angles, and the report on income in the US shows certain races and certain regions had a higher growth than others.
Still, slow economic and productivity growth have hampered wage gains. “Lawmakers can start now by passing a fiscal year 2017 budget, working to create good-paying jobs, and strengthening the safety net so that families who hit a rough patch are not permanently left behind”.
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“We lifted 3.5 million people out of poverty”. For Latinos, it fell from 23.6 percent to 21.4 percent, and for female-headed families, the rate fell from 33.1 percent to 30.4 percent. Bu only married families and families with a female householder experienced a curve both in the poverty rate, and the number in poverty decreased.
