With the recession booting droves of Americans out of the workplace, new figures show 1 in 7 U.S. residents are living in a state of monetary debility.
The Census’ annual economic well-being report was released on Thursday, revealing that the overall poverty rate in the U.S. has climbed to 14.3 percent. That’s the nation’s most futile figure since 1994. Today, 43.6 million Americans are living under the poverty line of $11,000 for an individual, or $22,000 for a family of four.
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With job loss continuing to cripple households across the country, the AP adds that more Americans also lost their health insurance from 2008 to 2009. Despite the passage of President Barack Obama’s health reform bill earlier this year, more than 50 million Americans currently stand without coverage. While Obama’s plan has hurdled its political roadblocks, the full package does not go into effect until 2014, keeping citizens waiting for another three-plus years.
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