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The u.s. poverty rate since 1960

The graph shows that the percentage of people below the poverty line was roughly 18% in the early 1960s, but had since mostly remained beneath 12% except for the years since the recession when the percentage has continued to increase to almost 16% in 2011 before dropping slightly to 14.5% in 2013.
The poverty rate fell dramatically during the 1960s, rose in the early 1980s and early 1990s, and, after declining in the 1990s through mid-2000s, rose to 15.9% in 2011, which is close to the 1960 levels. In 2013, the poverty dropped slightly to 14.5%. (Source: U.S. Census Bureau)
Poverty rates by group, 2013
Group Poverty Rate
Females 15.8%
Males 13.1%
White 9.6%
Black 27.1%
Hispanic 23.5%
Under age 18 19.9%
Ages 18–24 20.6%
Ages 25–34 15.9%
Ages 35–44 12.2%
Ages 45–54 10.9%
Ages 55–59 10.7%
Ages 60–64 10.8%
Ages 65 and older 9.5%

The concept of a poverty line raises many tricky questions. In a vast country like the United States, should there be a national poverty line? After all, according to the Federal Register, the median household income for a family of four was $102,552 in New Jersey and $57,132 in Mississippi in 2013, and prices of some basic goods like housing are quite different between states. The poverty line is based on cash income, which means it does not take into account government programs that provide assistance to the poor in a non-cash form, like Medicaid (health care for low-income individuals and families) and food aid. Also, low-income families can qualify for federal housing assistance. (These and other government aid programs will be discussed in detail later in this chapter.)

Should the poverty line be adjusted to take the value of such programs into account? Many economists and policymakers wonder whether the concept of what poverty means in the twenty-first century should be rethought. The following Clear It Up feature explains the poverty lines set by the World Bank for low-income countries around the world.

How is poverty measured in low-income countries?

The World Bank sets two poverty lines for low-income countries around the world. One poverty line is set at an income of $1.25/day per person; the other is at $2/day. By comparison, the U.S. 2015 poverty line of $20,090 annually for a family of three works out to $18.35 per person per day.

Clearly, many people around the world are far poorer than Americans, as [link] shows. China and India both have more than a billion people; Nigeria is the most populous country in Africa; and Egypt is the most populous country in the Middle East. In all four of those countries, in the mid-2000s, a substantial share of the population subsisted on less than $2/day. Indeed, about half the world lives on less than $2.50 a day, and 80 percent of the world lives on less than $10 per day. (Of course, the cost of food, clothing, and shelter in those countries can be very different from those costs in the United States, so the $2 and $2.50 figures may mean greater purchasing power than they would in the United States.)

(Source: http://data.worldbank.org/indicator/SI.POV.DDAY)
Poverty lines for low-income countries, mid-2000s
Country Share of Population below $1.25/Day Share of Population below $2.00/Day
Brazil (in 2009) 6.1% 10.8%
China (in 2009) 11.8% 27.2%
Egypt (in 2008) 1.7% 15.4%
India (in 2010) 32.7% 68.8%
Mexico (in 2010) 0.7% 4.5%
Nigeria (in 2010) 68.0% 84.5%

Questions & Answers

it is the situation where by im a market there is only one supplier and producer of a certain comodity that has no close substitute or competitor
Sepiso Reply
yes
Alhaji
what is demand and supply
Alhaji
what is Economics?
Pintu Reply
Is the study of human behaviour as a relationship between ends and scares mean which have alternative use
Alhaji
yes
Tawa
what is labour
Mamudou Reply
LABOUR is a measure of work done by human being
Blessing
It is all form of human effort use to utilize in production
Alhaji
Why is scarcity a foundermental problem in economics
Alhaji
Why is scarcity a foundermental problem in economics
Alhaji Reply
scarcity occur unbalance demand and supply at this time cost goods increase then inflation very increase
Tesfaye
scarcity is a foundermental problem because its a natural situation and it affects the world at Large.in other words,it's limit in supply relating to deman
Akwosih
'Economics is about making choices in the presence of scarcity"
manoj Reply
. 'Economics is about making choices in the presence of scarcity" - Dscuss.
manoj
describe the producer's scarce resources.. I.e land,Labour,capital and enterprise
Alfhah Reply
short in supply
Charles
What are human behaviour?
Regina Reply
the rationality in decision making
Charles
how can you describe economic goods in a much better easier way?
Alfhah Reply
any thing that have utility
Charles
what is deman and supply
Aruna Reply
Demand can be defined as the ability and willingness to buy commodities in a given price of goods and services in a particular period of time
Alasana
supply refers to the ability and willingness to offered commodities for sale in a given price of goods and services in a period of time .
Alasana
Demand can refer to the ability and willingness to purchase a commodity at a giving price and time.
habib
what must the producer do if total costs exceed total revenue
Mmusi Reply
raise price
Nguyen
reduce cost
Charles
scarcity resources sample
nawala Reply
land
Charles
what's scarcity
tumelo Reply
resources short in supply
Charles
hello
Shadesch
scarcity is excess against human wants.
Kennedy
scarcity is limit in supply relating to demand
Akwosih
students
Hamdu
shortge of resources .imbalance of wants to resources .
Hamdu
hlo
Yahya
limitation of supply in relation to their demand for commodity
Prince
what are the two types of economic theory's?
Lizabeth Reply
i thick it is microeconomic theory and macroeconomic theory. or it can be normative and positive economic theories.
Deep
yes^
Nguyen
with diagrams show thé change in prices in thé different time period that can result in an increase in demande
Fankam Reply
define momentary period
Fankam
What is a monopsony?
Allan Reply
monopsony is a situation where only one buyer is available in the market
The
And with many sellers?
Allan
oligopsony
The
to be more specific, oligopsony is a situation with many sellers but few buyers
The
Thank you
Allan

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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