Friday, September 11, 2009

Income Declines for U.S. Residents

According to a new U.S. Census Bureau report titled Income, Poverty, and Health Insurance Coverage in the United States: 2008...

Real median household income in the United States fell 3.6 percent between 2007 and 2008, from $52,163 to $50,303.

The nation’s official poverty rate in 2008 was 13.2 percent, up from 12.5 percent in 2007. There were 39.8 million people in poverty in 2008, up from 37.3 million in 2007.

Meanwhile, the number of people without health insurance coverage rose from 45.7 million in 2007 to 46.3 million in 2008, while the percentage remained unchanged at 15.4 percent. The number of people with health insurance increased from 253.4 million in 2007 to 255.1 million in 2008.

As defined by the Office of Management and Budget and updated for inflation using the Consumer Price Index, the weighted average poverty threshold for a family of four in 2008 was $22,025; for a family of three, $17,163; for a family of two, $14,051; and for unrelated individuals, $10,991

Read the U.S. Census Bureau's Press Release for much more detailed information about income, poverty, and health insurance by region, race, ethnicity, and sex.

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