More than 43 million Americans lived below poverty line in 2015, a US Census report said today, indicating that the world’s largest economy experienced one of the sharpest decline in poverty rates in 16 years.
The US Census Bureau in its report said 13.5 per cent of Americans lived in poverty in 2015, a reduction of 1.2 per cent from 2014.
The last time poverty rates declined this much from year to year was from 1998 to 1999 – making this the largest decline in poverty rates over the past 16 years, the Census Bureau said.
Since the financial crisis of 2008, the number of people living in poverty in the US has increased by more than 3.3 million.
“Today’s report is another disappointing confirmation that too many Americans are still struggling to provide for their families and reach their full potential,” said the House Ways and Means Committee Chairman Kevin Brady.
“The federal government invests billions of dollars each year in programs to help low-income Americans — but more than 43 million people continue to live in poverty. It shouldn’t be this way in America,” he said.
Between 2014 and 2015, poverty rates declined for many different demographic groups.
Poverty rates fell for both males and females.
In 2015, 12.2 per cent of males were in poverty while 14.8 per cent of females were in poverty, Census Bureau said.