Income/Poverty – Fast Facts

All income/poverty fast facts are from the non-partisan Congressional Budget Office (CBO) and U.S. Census Bureau. Although they represent many of their most recent reports on this subject, they do not represent all of their reports on this subject. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement.   As always, verify and view statements in their full context as often as possible.

1968 was the year in which measured postwar income was at its most equal for families.  Verify at Page 1
Inequality grew slowly in the 1970’s and rapidly during the early 1980’s.  From about 1987 through 1992, the growth in measured inequality seemed to taper off.  This was followed by a large apparent jump in 1993, partly due to a change in survey metholodogy.  Verify at Page 1
The number of people in poverty in 2010 is the largest number in the 52 years for which poverty estimates have been published.  Verify at Page 14
In 1997, real median income of U.S. households returned to the peak reached in 1989, the year before the most recent recessionary period (lasting from July 1990 to March 1991).  U.S. households began their recovery in median household income in 1995 and since then have experienced significant annual increases in their income.  Verify at Page V of Highlights
The poverty rate declined for both Whites and Blacks between 1983 and 1984.  No statistically significant changes were recorded in the number or percent of Spanish-origin persons in poverty.  Verify at Page 1
From 2006 to 2007 the share of the highest income quintile dropped from 50.5 percent to 49.7 percent, and the shares of aggregate income of the third and fourth quintiles increased from 14.5 percent to 14.8 percent and from 22.9 percent to 23.4 percent, respectively.  The changes of shares of aggregate household income received by quintiles indicated a decrease in income inequality between 2006 and 2007.    Verify at Page 8
Between 2009 and 2010, real median household income declined for Whites and Blacks, while the changes for Asians and Hispanics were not statistically significant.  Verify at Page 1
Real median household income increased between 2006 and 2007 – the third annual increase.  The poverty rate was not statistically different between 2006 and 2007.  Verify at Page 1
Among the race groups, Asian households had the highest median income in 2010 ($64,308).  Verify at Page 8-9
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