ANALYSIS, COMMENTS, THOUGHTS, AND OTHER OBSERVATIONS IN DR. SKOSPLES' NATIONAL INCOME AND BUSINESS CYCLES COURSE AT OHIO WESLEYAN UNIVERSITY
Sunday, September 19, 2010
A More Nuanced Look at Poverty Numbers
The amount of people in poverty for 2009 was not as high as expected but was still at 43.6 million which is the highest since 1959. Another 2.3 million would have been added to that if it were not for unemployment insurance. Race is still a big issue in the poverty gap and income inequality with the "median per capita income for non-Hispanic whites [at] $30,941," and blacks at $18,135. On top of that black households make half of what Asian households make. Age also plays a factor into this households 65 and older had a median pay of $31,354 which increased by 5.8% and households aged "15 to 24 saw their income drop 4.4 percent, and those led by someone 35 to 44 fell 2.6 percent."
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