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INFORMATION WITH A PURPOSE
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The key to thriving in a competitive marketplace like California
is staying ahead of the competition. Making sound business decisions
is based on accurate and current information. If you are a business or
government and need market analysis and forecasts services-
contact Dr. Robert Harmon at RHarmon@CaliforniaBusinessMinute.com
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CALIFORNIA BUSINESS MINUTE
Poverty Levels
09-12-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
The U.S. poverty rate rose to the highest level in almost two decades as household
income fell in 2010 illustrating the lingering effect of the “Great Recession”.
Data released by the Census Bureau shows that the proportion of people living in
poverty climbed to 15.1 percent last year from 14.3 percent in 2009.
The number of Americans living in poverty was the highest in the 52 years since the
Census Bureau began collecting the statistic. This was the third consecutive annual
increase in the poverty rate.
The definition of poverty is an annual income of $22, 314 for a family of four and
$11,139 for a single person in 2010.
Unfortunately, the poverty in California exceeds that of the nation. California’s
poverty rate also increased to its highest level in 13 years to 16.3 percent, up
from 15.3 percent in 2009.
I am Tim Johnson and this has been the California Business Minute.
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INSIDE CALIFORNIA'S ECONOMY
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