New poverty stats are out

The U.S. Census Bureau today issued a press release summarizing its most recent poverty findings, concluding that the nation’s official poverty rate rose from 11.7 percent in 2001 to 12.1 percent in 2002 and median household money income declined 1.1 percent in real terms from 2001 to $42,409 in 2002. The online press release includes links to the Census Bureau’s two related statistical reports: a 40-page Poverty in the United States: 2002 (September 2003) and a 35-page Income in the United States: 2002.

The Center on Budget and Policy Priorities has published a very helpful overview and initial analysis of this new poverty data: Poverty Increases and Median Income Declines for Second Consecutive Year: Ranks of the Poor Increase by 3 Million Since 2000 (CBPP: September 26, 2003).