US poverty increase despite economic improvement
The number of Americans living in poverty increased to 46.5 million last year. This had been the latest sign of economic recovery shown in the stock market. The US Census Bureau figures shown on Tuesday had highlighted the lingering scars from the 2007 to 2009 recession. This fueled debates over government austerity measures and widening income inequality. The economic recovery could also renew calls to raise the minimum wage in the country.
The national poverty rate was not changed at 15% although poverty rate had increased from 46.2 million last 2011. In 2012, the poverty threshold had an income of USD23492 for a family of four, according to Census data.
The President of the Center for American Progress Neera Tanden said, "Today's data underscore that it is time for Congress to pivot from a focus on austerity to an agenda emphasizing jobs and shared economic growth."
The recovery from the worst recession from the 1930s had been marked by an increase in records high. This was aided in part by the Federal Reserve's ultra easy monetary policy.