Number of Latinos in poverty, household income drops
A Census Bureau report released Wednesday provides a mixed picture of the economic well-being of Latino U.S. households for 2011. With joblessness persistently high, the gap between rich and poor increased in the last year, according to two major census measures. Also, the median, or midpoint, household income was $50,054, 1.5 percent lower than 2010 and a second straight decline.
The number of Latinos in poverty fell from 13,522,000 to 13,244,000, a significant drop compared to whites (-0.2%), blacks and Asians, who saw a slight increase in poverty rates by 0.1 percent and 0.2 percent respectively. The overall poverty rate for Latinos fell from 26.5 percent to 25.3, but the nation’s overall rate stood at 15 percent.
During the same time the median household income for Hispanics dropped 0.5 percent from $38,818 to $38,624 – the smallest drop of any group.
The numbers are coming out not long before the Nov. 6 election in which the economy is the No. 1 issue and President Barack Obama is trying to make the case that the labor market, while not fully healed, is on the right track.
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