U.S. Poverty Rate Stays at Almost Two-Decade High

The U.S. poverty rate remained at almost a two-decade high last year, while household incomefell, underscoring a sputtering economic recovery that’s at the heart of the presidential campaign.

The U.S. Census Bureau released figures today that showed the proportion of people living in poverty was 15 percent in 2011, little changed from 15.1 percent in 2010, while median household income slipped 1.5 percent.

“The recession is going to have long-term effects on the poverty rate, which our projections suggest is going to hang high for many years to come,” said Isabel Sawhill, a senior fellow at the Brookings Institution in Washington who studies poverty issues.

 

Bloomberg has the full article

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