You're Making Less Than You Used To And 40 Million Americans Are Now Poor

The Census Bureau has released its annual survey of incomes, poverty, and health insurance (embedded). 

Here’s a quick summary:

  • Real incomes fell in 2008, which is typical of a recession.  The decline from 2007 through the end of 2008 (3%) was actually less than might have beeen expected given the severity of the economic decline.
  • The poverty rate increased to 13.2% from 12.5% in 2007.  40 million Americans are now poor, versus 37 million the prior year. 
  • The number of people without health insurance increased to 46.3 million from 45.7 million, but the percentage was steady at 15.4%.
  • Whites still fare better than Asians, blacks, and Hispanics.  Except in income–Asian households make the most.

See the key charts and trends >
See the full report >

Real Incomes dropped in 2008, but this is typical in recessions

Incomes By Race

Asian households make the most, black households the least.

Men still make more than women, but gap is closing

40 million Americans are now poor

And that's not just the result of population growth: The poverty RATE also increased.

Not surprisingly, young people are REALLY poor

Health Insurance

The number of Americans with no health insurance increased to 46 million, but the percentage stayed the same (15%).

LOTS of people are already insured by the government

(So why the outcry about expanding this number?)

White kids are more likely to be insured than black, Asian, and Hispanic kids

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