Observations on life

Where is the progress we were promised?

THE ECONOMY, THE ECONOMY, THE ECONOMY – focus on the economy and that doesn’t mean taking from some to give to others😡 You don’t measure success because you spent a lot of money. You don’t declare progress by adding to those on assistance, but rather by the number no longer needing it. Results matter😱  It’s great that millions more have health insurance, but not so great they need a federal subsidy to pay the premiums. 

U.S. Census Bureau News
Income, Poverty and Health Insurance Coverage in the United States: 2014
NEWS RELEASE: CB15-157

SEPT. 16, 2015 — The U.S. Census Bureau announced today that in 2014, there was no statistically significant change from 2013 in either real median household income or the official poverty rate. At the same time, the percentage of people without health insurance coverage declined. Unless otherwise noted, the following results for the nation were compiled from information collected in the 2015 Current Population Survey Annual Social and Economic Supplement.

The nation’s official poverty rate in 2014 was 14.8 percent, which means there were 46.7 million people in poverty. Neither the poverty rate nor the number of people in poverty were statistically different from 2013 estimates. This marks the fourth consecutive year in which the number of people in poverty was not statistically different from the previous year’s estimate.

Median household income in the United States in 2014 was $53,657, not statistically different in real terms from the 2013 median income. This is the third consecutive year that the annual change was not statistically significant, following two consecutive annual declines.

The percentage of people without health insurance coverage for the entire 2014 calendar year was 10.4 percent, down from 13.3 percent in 2013. The number of people without health insurance declined to 33.0 million from 41.8 million over the period.

These findings are contained in two reports: Income and Poverty in the United States: 2014 and Health Insurance Coverage in the United States: 2014. The Current Population Survey Annual Social and Economic Supplement was conducted between February and April 2015 and collected information about income and health insurance coverage during the 2014 calendar year.

Income

· Real median incomes in 2014 for family households ($68,426) and nonfamily households ($32,047) did not experience statistically significant changes from the levels in 2013.

· A comparison of real median household income over the past seven years shows that income is 6.5 percent lower than in 2007, the year before the nation entered the most recent economic recession.

Earnings

· The changes in the real median earnings of men and women who worked full time, year- round between 2013 and 2014 were not statistically significant. In 2014, the median earnings of women who worked full time, year-round ($39,621) was 79 percent of that for men working full time, year-round ($50,383) ─ not statistically different from the 2013 ratio. The female-to-male earnings ratio has not shown a statistically significant annual increase since 2007.

· The number of men and women working full time, year-round with earnings increased by 1.2 million and 1.6 million, respectively, between 2013 and 2014. Taken in combination with an increase of about 800,000 in the number of women with earnings, regardless of work experience, and no statistically significant change for their male counterparts, this suggests a shift of workers moving from part-year, part-time work status to full-time, year-round work status. The respective increases in the number of men and women working full time, year-round with earnings were not statistically different from one another, nor were they statistically different from the increase in the number of women with earnings, regardless of work experience.

Income Inequality

· The Gini index was 0.480 in 2014; the change from 2013 was not statistically significant. Since 1993, the earliest year available for comparable measures of income inequality, the Gini index has increased 5.9 percent. (Developed more than a century ago, the Gini index is the most common measure of household income inequality used by economists, with 0.0 representing total income equality and 1.0 equivalent to total inequality.)

· Changes in income inequality between 2013 and 2014 were not statistically significant as measured by the shares of aggregate household income by quintiles.

Poverty

· The poverty rate for families and the number of families in poverty were 11.6 percent and 9.5 million in 2014, neither statistically different from the 2013 estimates.

· In 2014, 6.2 percent of married-couple families, 30.6 percent of families with a female householder and 15.7 percent of families with a male householder lived in poverty. For married-couple families, both the poverty rate and the number in poverty increased. For families with a female householder, the poverty rate was not statistically different from 2013, while the number in poverty declined. Neither the poverty rates nor the estimate of the number of families in poverty showed any statistically significant change between 2013 and 2014 for families with a male householder.

· In 2014, 13.5 percent of people 18 to 64 (26.5 million) were in poverty compared with 10.0 percent of people 65 and older (4.6 million) and 21.1 percent of children under 18 (15.5 million). None of these age groups experienced a statistically significant change in the number or rates of people in poverty between 2013 and 2014.

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Categories: Observations on life

1 reply »

  1. Your posting hits the nail on the head. After reading some of the highlights from last night’s debate, I can’t believe that they are still arguing over long ago settled single issues like abortion. Yes this is important to some people but its been almost 40 years now and get over it and move on. It’s “the economy, stupid” which James Carville a strategist for Bill Clinton coined for Clinton’s successful 1992 presidential campaign against president George H. W. Bush. I always thought Ross Perot had said that because of his charts and graphs he used during his campaign to push for a balance budget. Either way at the national level the economy has always been the issue because it affects government services, federal budget, and taxes. IT’s still the ECONOMY, STUPID!”

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