Poverty rate climbed in US to record 46.2 million
Economy
10:33 14/09/2011

Poverty rate climbed in US to record 46.2 million

 US Census Bureau report says the ranks of the nation's poor have swelled to a record 46.2 million - nearly 1 in 6 Americans - as the prolonged pain of the recession leaves millions still struggling and out of work.

According to Forbes, the rate is still 9.1 percent at the start of an election year that's sure to focus on the economy and President Barack Obama's stewardship of it.

The overall poverty rate climbed to 15.1 percent, from 14.3 percent the previous year, and the rate from 2007-2010 rose faster than for any similar period since the early 1980s when a crippling energy crisis amid government cutbacks contributed to inflation, spiraling interest rates and unemployment. For last year, the official poverty level was an annual income of $22,314 for a family of four.

Measured by total numbers, the 46 million now living in poverty are the most on record dating back to when the census began to track in 1959. The 15.1 percent tied the level of 1993 and was the highest since 1983.

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Poverty rate climbed in US to record 46.2 million