The Office of Management and Budget released its latest census data report today and it doesn’t paint a terribly rosy picture of the current economic situation.
In 2010, the nation’s poverty rate rose to 15.1%, meaning that about 46.2 million people have income below $22,314 for a family of four, or $11,139 for an individual. This is the highest level of poverty in the U.S. since 1993.
The median household income in America fell to $49,445 in 2010 from $49,777 the year before.
From CNN Money:
Overall, median income has changed very little compared to rising consumer prices over the last 30 years. Adjusted for inflation, the middle-income family only earns 11 percent more than they did in 1980, while consumer prices have risen roughly 155 percent.
Nation’s poverty rate climbs to 15.1%, highest in 18 years [Chicago Tribune]