Image credit: Paul Downey
One in three.
And as reported by the U.S. Census,
“among the 37.6 million people who were poor at the start of the period — January and February 2009 — 26.4 percent remained poor throughout the next 34 months”
It’s also important to note that about half of those who did escape their poverty-level incomes did not get very far.
Quoting Wall Street Journal:
“Roughly half — 49.5% — of the people who escaped poverty within 2009 and 2011 continued to have an income that was less than 150% of the poverty threshold that applied to them given their family size.”
ZeroHedge has teased out several graphs, charts ‘n’ stats from the U.S. census report for easier reading.
You can also go directly to the U.S. Census report in PDF format.
While this latest poverty news was circulating last night, I saw this tweet from White House reporter Mark Knoller. He shared an assertion from President Obama’s Council of Economic Advisors that poverty is down 1/3 since 1967.
Economist, writer, and radio host Doug Henwood shared the census report on his facebook wall with this additional note: “Remember too that the U.S. poverty line is an absolute measure – it was fixed in the early 1960s and has just been adjusted for inflation ever since, despite the sharp rise in average incomes. Which means that the poverty line for a family of 3 was about 50% of median family income in 1959; it was 31% of median family income in 2012 (adjusted for changes in average family size). I’m using family rather than household not because of a natalist bias, but because household figures only begin in 1967.”
Here are the 2012 poverty guidelines:
Poverty level source.