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Poverty Up

OMB Watch – Federal Budget –
The Census Bureau today released updated income and poverty data. The news is not good.
Among the findings:
* “Real median household money income did not change from 2002 to 2003.1
* …the share of aggregate income received by the lowest 20 percent of households had a slight reduction – from 3.5 percent to 3.4 percent.
* The ratio of female-to-male earnings in 2003 for full-time, year-round workers was 76 percent, a decline from 77 percent in 2002, because of a decline in the earnings of female year-round full-time workers.
* The official poverty rate rose, from 12.1 percent in 2002 to 12.5 percent in 2003. The number in poverty increased also, by 1.3 million people, to 35.9 million in 2003.2.
* The poverty rates for people 18 to 64 and those 65 and older remained unchanged, but the poverty rate for children rose from 16.7 percent in 2002 to 17.6 percent in 2003.”
See the full report from the Census Bureau.

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