26-September-2017
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Economy News
 
US poverty rate back to pre-crisis levels
13-Sep-2017

The median household income increased by 3.2% to $59,039 (£44,480), rising for a second consecutive year as more people found full time jobs.At the same time, those living below the poverty line fell to 12.7%, the lowest since 2007, the US Census said.Women's earnings also rose relative to men's for the first time in 10 years.The US Census report, based on a survey of about 95,000 households, showed broad gains across most income, racial and ethnic groups.The numbers reflect one of the longest economic expansions in US history, with more than six years of steady job growth. The unemployment rate fell to its lowest level since 2001 earlier this year.According to the US Census report, the number of men and women working full time increased by 2.2 million from 2015 to 2016.About 40.6 million people were living below the poverty line in 2016, defined as an annual income of about $24,500 for a family of four.

News Source:- http://www.bbc.com/news/business-41244588