Income/Poverty – Fast Facts

All health care fast facts are from the non-partisan Congressional Budget Office (CBO) and Center for Medicare and Medicaid Services (CMS). Although they represent some 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.

Household income inequality remained unchanged between 1999 and 2000, based on analyzing aggregate shares of income and the Gini index.  There has been no statistically significant annual change in income inequality since 1993.  However the Gini index in 2000 is higher than in 1995.  Verify at Page 1
The Gini index ranges from 0, indicating perfect equality (where everyone receives an equal share), to 1, perfect inequality (where all the income is received by only one person or group of people).   Verify at Page 8
Since 2007, the year before the most recent recession, real median household income has declined 6.4 percent and is 7.1 percent below the median household income peak that occurred in 1999.  Verify at Page 5
The official poverty rate in 2010 was 15.1 percent – up from 14.3 percent in 2009.  This was the third consecutive annual increase in the poverty rate.  Verify at Page 14
People may cope with challenging economic circumstances by combining households with other families or individuals.  The number and percentage of doubled-up households in the United States increased over the course of the recession that began in December 2007 and ended in June 2009.  Verify at Page 21
From 2006 to 2007 the share of the highest 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 page 8
As with money income, there was a decline between 2006 and 2007 in the Gini index and a redistribution of shares of aggregate household income within quintiles for equivalence-adjusted income.  Verify page 10
While the overall median income of households with a householder that worked full-time, year-round rose 1.7 percent, and the income of households with no earners declined 4.8 percent.  This occurred while the earnings of men and women who worked full-time, year-round rose by 3.8 percent and 5.0 percent, respectively.  Verify at Page 10
Median household income in the United States was $42,148 in the year 2000.  This value equaled the value for 1999, the highest level recorded in the Current Population Survey (CPS), in real terms.  Verify at Page 1
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