Poverty rate posts 1st notable drop since '06; Latinos show big strides

[unhappycamper]

http://www.latimes.com/business/la-fi-poverty-rate-drop-20140917-story.html



Poverty rate posts 1st notable drop since '06; Latinos show big strides
Jim Puzzanghera
9.16.2014

The poorest Americans, particularly those who are Latino, finally are showing signs of joining in the economic recovery as the nation's poverty rate dropped significantly last year for the first time since 2006.

The improving labor market drove the decrease in the rate to 14.5% from 15%, which was near the highest level in a generation, the Census Bureau said Tuesday.

The number of people with year-round, full-time jobs rose by about 2.8 million to 105.8 million last year. The increase included nearly a million households with children under 18 years old, helping fuel the first significant drop in the child poverty rate in more than a decade.

Latinos showed the most improvement last year, with their poverty rate dropping 2.1 percentage points and median household income posting its first increase since 2000.

[3rdwaydem]

1. Thank you President Obama!