Listed below are several summary statements from the 2010 Census report: The off

Question

Listed below are several summary statements from the 2010 Census report:    

The official poverty rate in 2010 was 15.1 percent—up from 14.3 percent in 2009. This was the third consecutive annual increase in the poverty rate. Since 2007, the poverty rate has increased by 2.6 percentage points, from 12.5 percent to 15.1 percent.

In 2010, 46.2 million people were in poverty, up from 43.6 million in 2009—the fourth consecutive annual increase in the number of people in poverty.

Between 2009 and 2010, the poverty rate increased for non-Hispanic Whites (from 9.4 percent to 9.9 percent), for Blacks (from 25.8 percent to 27.4 percent), and for Hispanics (from 25.3 percent to 26.6 percent). For Asians, the 2010 poverty rate (12.1 percent) was not statistically different from the 2009 poverty rate.1

The poverty rate in 2010 (15.1 percent) was the highest poverty rate since 1993 but was 7.3 percentage points lower than the poverty rate in 1959, the first year for which poverty estimates are available.

The number of people in poverty in 2010 (46.2 million) is the largest number in the 52 years for which poverty estimates have been published.

Between 2009 and 2010, the poverty rate increased for children under age 18 (from 20.7 percent to 22.0 percent) and people aged 18 to 64 (from 12.9 percent to 13.7 percent), but was not statistically different for people aged 65 and older (9.0 percent).2

Source: http://www.census.gov/hhes/www/poverty/data/incpovhlth/2010/highlights.html

Tasks:

Select any four of the six summary statements and explain in detail the significance and possible causes of each item.

Be sure to use the economic concepts and polices discussed in your textbook where applicable.

Identify possible economic policies that may explain these items and/or those which could be used to deal with the problems or situations described.

Chapter 18 of Principles of Economics, 7e, 7th Edition

Explanation / Answer

The united nations is the biggest and most economic influancial nations in the present world. In the recent report of census shows that the number of people in poverty was increased very significantly. In the report says that the poverty rates in the nation is 15.1 percent in 2010, it is the highest since 1993. I think this is because the nations household income will be decreased very significantly. the US economy faces a serious crisis during 2007-2009 lots of people have lost their jobs and they do not get adequate income. Another important reason is that most of the people do not have the health insurance policies. That why President Obama introduces the new health care policy like Obama Care, This will help the nation very significantly.

In the report the poverty rate increased by 14.3 percent in 2009 to 15.1 percent in 2010. This was the highest annual increase in the level of poverty. The poverty has increased 2.6 percent per annuam. That means total number of people below poverty line is 46.2 million. That means that people cannot get $22,000 per annuam as their usual earnings.

The number of children under 18 years the poverty has increased 20.7 percent to 22 percent in the recent report. That means the 16.4 million children are living below poverty line in the world biggest country. This is the record increase in the number of people are below poverty line. that means the US is going back to the 1959 periode. This is the periode where US faced huge poverty rate in the country.

In the report that shows US economy is facing the deep poverty in the country. This will shows that the inequality in the country will be increasing. The country facing high unemployment sice the crisis that will create an huge gap between rich and the poor. The loss of employment will create an low standered of living the people. The loss of employment will pushed down the wage rate and cut all benefits given to the employees. This reduce the standered of living of the people.

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