Median income falls, but so does poverty
Poverty rate drops slightly for the first time in 4 years, the Census Bureau says.
September 12th, 2012
11:17 AM ET

Median income falls, but so does poverty

By Tami Luhby @CNNMoney

NEW YORK (CNNMoney) - Middle-class families continued to see their incomes decline in the aftermath of the Great Recession, according to U.S. Census Bureau data released Wednesday.

Median household income fell to $50,054 in 2011, down 1.5% from a year earlier. Income inequality widened, as the highest income echelon experienced a jump in incomes, while those in the middle of the income range saw incomes shrink.

Meanwhile, the national poverty rate hit 15.0% in 2011, down slightly from 15.1% the year before. Some 46.2 million people fell below the poverty line last year. The poverty threshold for a family of four was $23,021.

Most experts were expecting an increase in poverty, but Census officials said an increase in the number of people working full-time helped keep the rate in check.

Read the full story at CNN Money

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Filed under: How we live • Poverty
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