from cnnmoney: Amid a still struggling economy, more people in America fell below the poverty line last year, according to new census data released Tuesday. The nation's poverty rate rose to 15.1% in 2010, its highest level since 1993. In 2009, 14.3% of people in America were living in poverty. "The results are not surprising given the economy," said Paul Osterman, a labor economist at MIT. "You would expect with so many people unemployed, the poverty rate would go up. It's just another sign of what a difficult time this is for so many people." About 46.2 million people are now considered in poverty, 2.6 million more than last year. The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. The Office of Management and Budget updates the poverty line each year to account for inflation.
related econocrash updates:
poverty in america: a special report*
obama jobs plan: 10 reasons it's a bad joke*
20 signs of imminent financial collapse in europe*
here's why everyone's thinking that greece might default*
student loan default rate highest in 14yrs*
jpmorgan pays $88m in fines for trading with enemies*
ubs $2b 'rogue trade' suspect held in london*
fair use notice: this site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. we are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, & social justice issues, etc. we believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US copyright law. In accordance with title 17 usc section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.