New Census Report on Income and Poverty in the U.S.
The U.S. Census Bureau recently released data that show no significant change in the official poverty rate or real median household income between 2013 and 2014. The data used by the Census Bureau in this report are from the Current Population Survey Annual Social and Economic Supplement.
With regard to income and poverty in the United States, the data shows that 46.7 million people in the U.S. were living at or below the poverty level in 2014, reflecting a poverty rate of 14.8 percent, the same as in 2013. Real median household income was $53,657, as compared to $54,462 in 2013.
For most demographic groups, the poverty rate didn’t change between 2013 and 2014. However, poverty among female-headed families declined from 5.2 million to 4.8 million people, with their poverty rate declining from 32.2 percent to 30.6 percent. Poverty among married-couple families increased from 3.4 million to 3.7 million people, a poverty rate increase from 5.7 percent to 6.2 percent.
The report also shows the decline in real median household income and increase in income inequality over the past 15 years. Real median household income declined from its peak of $57,843 in 1999 to $53,657 in 2014. Real income declined by 7.2 percent for the median household, but declined by 16.5 percent for households in the bottom 10 percent of income. Income for the households in the top 10 percent increased by 2.8 percent during the same period.