Recession Drives Up Concentrated Poverty in America’s Suburbs
by EconMatters
ZeroHedge.com
11/04/2011
Brookings just publisheda new studyanalyzing data on neighborhood poverty from the 2005–09 American Community Surveys and Census 2000, and here are some of the very depressing findings:
Over a ten-year span, the number of Americans in poverty has grown by 12.3 million reaching a historic high of 46.2 million. By the end of 2010, over 15% of the nation’s population lived below the federal poverty line—$22,314 for a family of four in 2010.
At least 2.2 million more Americans, a 33% jump since 2000, live in neighborhoods where the overall poverty rate is 40% or higher.
Housing bust and the mass loss of manufacturing and auto industry jobs during the two recessions in the study period hit the Midwestern and Southern metro areas the hardest. Midwest saw its concentrated poverty nearly doubled from 2000 to 2005–09, while Southern metro areas experienced an increase by one-third.
The Rest…HERE
