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9/13/11

US Economic meltdown:: Poverty rate in US climbs to 27-year high with 1 in 6 Americans officially poor

The number of Americans in poverty has jumped to an incredible 27-year high, with almost one in six people now falling into the bracket.More than 46 million people, or 15 per cent, are in poverty - which is up from 44 million, or 14 per cent, in 2009, the US Census Bureau said.

The number of people lacking health insurance increased to 50 million, which is a new high after revisions were made to 2009 figures. Losses were due mostly to working-age Americans who lost employer-provided insurance in the weak economy. Main provisions of the health overhaul do not take effect until 2014.

The median household income was $49,445, a 2.3 per cent fall from 2009. The 46.2 million people in poverty in 2010 represents the largest number in 52 years since estimates began. The U.S. poverty rate is only lower than three countries in 34 tracked by the Organization for Economic Cooperation and Development in France.

For more: US poverty rate climbs to 27-year high with 1 in 6 Americans officially poor | Mail Online

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