Table 7.1 Table 7.1 The distribtion of money income among households (selected years) Percentage shae Lowest Second Middle Fourth Highest Year ifth Fi Fifth Fifih Top 5 Percent 1967 4.0 10.8 17.3 24.2 43.8 17.5 1977 4.4 10.3 17.0 24.8 43.6 16.l 1982 4.1 10.1 16.6 24.7 44.5 16.2 1987 3.8 9.6 16.1 24.3 46.2 18.2 1992 3 94 158 4.2 46.9 18.6 1997 3.6 89 150 23.2 494 21.7 200l 3.5 8.7 14.6 23.0 50.1 22.4 SOURCE: US Bureau of the Census, Current Population Reports, series P60-209( Washington, DC: US Govern mentPrintingOffice),2001,Url:http://www.census.govhhes/income/histinc/h02.htmlThesefiguresdonot include the value of in-kind transfers
Table 7.1
Distribution of Income Richest 20% receives about 50% of total ncome Poorest 20% receives about 4% of total Income Inequality has increased over time
7 Distribution of Income • Richest 20% receives about 50% of total income. • Poorest 20% receives about 4% of total income. • Inequality has increased over time
Distribution of income Poverty The poverty line is a fixed level of real income which is considered enough to provide a minimally adequate standard of living Inherently arbitrary, but still a useful benchmark Trends over time Differences across groups
8 Distribution of Income: Poverty • The poverty line is a fixed level of real income which is considered enough to provide a minimally adequate standard of living. • Inherently arbitrary, but still a useful benchmark. – Trends over time – Differences across groups
Distribution of income Poverty Poverty line for a family of 4 was $18, 244 in2001 Median household income more than double that, $42, 228 Table 7.2 shows poverty rates for selected groups in 2001
9 Distribution of Income: Poverty • Poverty line for a family of 4 was $18,244 in 2001. • Median household income more than double that, $42,228. • Table 7.2 shows poverty rates for selected groups in 2001
Table7.2 Table 7.2 Who is poor? Group Poverty rate Group Poverty Rate All persons 11.7% Under 18 16.3% White 7.4 65 years and older 10.1 Black 20.7 Female households Hispanic origin 194 no husband present 26.4 SourCe:UsBureauoftheCensushistOricalPovertyTables."[wwwDocumentUrl:http://www.census.gov/ prod/2002pubs/p60-219. pdf. Figures are for 2001
Table 7.2