More Americans Living in Poverty
"More than a million Americans sank into poverty last year, an annual Census report....It was the first time in nearly a decade that the number of poor rose two years in a row....The official definition of poverty varies by family size and age and can change annually with the cost of living. In 2001, a family of two parents under 65 and two children younger than 18 were considered poor with a household income below $12,207. That year, 32.9 million people were defined as poor....The economy was stagnant in 2002 amid layoffs and spending cuts by employers and state governments. More people were unemployed for longer periods, and more saw their jobless benefits run out. But the 2002 poverty rate reported today is still close to the 2000 mark, its lowest level in more than 25 years...."
Thanks to Connie Chung