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Showing blog posts tagged with Census Bureau

Something Is Really Broken

William Spriggs | Economy

On Tuesday, the U.S. Census Bureau issued its annual report on income and poverty in the United States. It revealed what has been obvious in the five years since the collapse of Lehman Brothers and the onset of the Great Recession; something is really broken in our country. Since 1980 we have seen a steady climb in the share of income going to the top 5% of American households, except the downturns of 2001 and 2008. During those downturns, financial bubbles burst and the top lost income share. In both cases, the Federal Reserve System acted aggressively to save the financial sector and stave off further contagion from the sector of finance and speculation into the sector of goods production and employment—the real economy. The restoration of the financial sector restored the incomes of the top 5%, and the recovery after 2001 and the current recovery restored the steady growth of inequality.

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Unions Necessary to Rebuild Middle Class

Mike Hall | Economy

As union membership declines, so do middle class incomes.

New figures from the U.S. Census Bureau today show that the middle class received the smallest share of the nation’s income since these data were first reported. The middle 60 percent of households received only 45.7 percent of the nation’s income in 2011, down from the historical peak of 53.2 percent in 1968. But writers David Madland and Nick Bunker at the Center for American Progress Action Fund  say:

By advancing the interests of the middle class in the workplace and in our democracy, unions help build and strengthen the middle class.

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Community@Work See How America's Unions Make a Difference

New Census Bureau Report: Working People Can't Get Ahead

Mike Hall | Economy

Right-wing economic policies have failed working people.

Right-wing economic policies have failed working families. New  U.S. Census Bureau  figures show the share of income going to middle- and lower-middle-income households fell, while the share of income going to the top 5 percent went up 4.9 percent. The census report confirms the trend that the Economic Policy Institute shows in  The State of Working America, 2012 — falling incomes and growing inequality. Instead of coddling the richest 1%, America needs to return to the principles of “prosperity economics” that have historically enabled economic security for all and a growing middle class. 

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New Census Data Show Many in Middle Class Are ‘Near Poor’

Adele Stan | Economy

When the U.S. Census Bureau retooled its formula for determining the number of poor people living in the United States, the number the bureau estimated to be living in poverty shot up from 46.1 million to 49.1 million. Now that reformulation is shining a light on the vast numbers of people who appear to be middle class but who actually fall into a category called the “near poor.”

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More Older Americans Slipping Into Poverty

Adele Stan | Economy

When the U.S. Census Bureau updated its model for calculating the nation’s poverty rate, it arrived at an unexpected result: nearly twice as many older Americans qualify as poor than had been previously thought. The new data suggest that 16 percent of those 65 and older are poor. Under the old formula, which failed to accurately reflect housing and medical costs, the poverty rate for older Americans stood at 9 percent.

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As Go Unions, So Goes the Middle Class

| Economy

This is a cross-post from the Campaign for American Progress . David Madland and Nick Bunker parse the latest figures to show states with weak unions also share another trait—a weak middle class.

New state income data released yesterday by the U.S. Census Bureau shows the importance of unions to boosting incomes for all middle-class households—union and nonunion alike. The 2010 income data makes it clear that strong unions are a critical factor in creating a middle-class society. Restoring the strength of unions would go a long way toward rebuilding the middle class.

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Median Income Down, Poverty Up

Tula Connell | Economy

More troubling news on the downward economic spiral of America’s working families. In 2010, median household income declined and the poverty rate increased, according to  U.S. Census Bureau data  announced this morning.

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End
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Timing points:

CheckpointElapsedRel. ElapsedMemoryRel. Memory
Script start 0.0000 sec0.0111 sec 1,284.5313 KB1,198.9531 KB
Module start 'content' 0.0111 sec1.0595 sec 2,483.4844 KB6,074.6328 KB
Module end 'content' 1.0706 sec1.8439 sec 8,558.1172 KB15,178.9219 KB
End 2.9145 sec  23,737.0391 KB 
Total runtime:2.9253 sec
Peak memory usage:25,495.7969 KB

Time accumulators:

 Accumulator Elapsed Percent Count Average
ini_load
Load cache0.0068 sec0.2323%340.0002 sec
Find INI Files0.0002 sec0.0073%60.0000 sec
Mysql Total
Mysqli_queries2.2462 sec76.4757%11740.0019 sec
Looping result0.0268 sec0.9111%11580.0000 sec
TS translator
TS init0.0019 sec0.0646%40.0005 sec
TS cache load0.0009 sec0.0309%40.0002 sec
TS context load0.0006 sec0.0214%40.0002 sec
Template Total2.8005 sec 95.3% 3 0.9335 sec
Template load0.0050 sec0.1698%30.0017 sec
Template processing2.7954 sec95.1750%30.9318 sec
Template load and register function0.0001 sec0.0038%10.0001 sec
states
state_id_array0.1455 sec4.9551%830.0018 sec
state_identifier_array0.1251 sec4.2608%910.0014 sec
override
Cache load0.0063 sec0.2143%1330.0000 sec
class_abstraction
Instantiating content class attribute0.0014 sec0.0483%440.0000 sec
Sytem overhead
Fetch class attribute can translate value0.0015 sec0.0508%200.0001 sec
Fetch class attribute name0.0126 sec0.4294%350.0004 sec
XML
Image XML parsing0.0117 sec0.3985%200.0006 sec
General
String conversion0.0000 sec0.0005%30.0000 sec
dbfile0.0031 sec0.1041%950.0000 sec
Total script time:2.9371 sec