Income, Poverty, and He Heal alth Insurance: 2017 September 2018 - PowerPoint PPT Presentation

Income, Poverty, and He Heal alth Insurance: 2017 September 2018 URL: http://www.census.gov/newsroom/press- kits/2018/income_poverty.html

Presenters Host Michael C. Cook, Sr. Chief, Public Information Office Presenters David G. Waddington Chief, Social, Economic, and Housing Statistics Division Trudi J. Renwick Assistant Division Chief, Economic Characteristics Liana E. Fox Statistician, Social, Economic, and Housing Statistics Division Sharon M. Stern Assistant Division Chief, Employment Characteristics

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• Data are based on the Current Population Survey’s Annual Social and Economic Supplement (CPS ASEC). • CPS ASEC is the official source of national poverty estimates. • Official poverty estimates are calculated in accordance with OMB Statistical Policy Directive 14. 4

• Includes Current Population Survey (CPS) and American Community Survey (ACS) data. • ACS is the recommended source for smaller populations and levels of geography. 5

Re Real l Media ian Household Inco come: 1967 to 2017 Recession Income in thousands (2017 dollars) 100 90 80 Median household income was $61,400 in 2017, an increase in 70 $61,400 real terms of 1.8 percent from 60 $46,000 the 2016 median of $60,300. 50 This is the third consecutive 40 annual increase in median 30 household income. 20 10 0 1967 1975 1980 1990 2000 2010 2017 Note: The data for 2013 and beyond reflect the implementation of the redesigned income questions. Income rounded to nearest $100. 6 Source: U.S. Census Bureau, Current Population Survey, 1968 to 2018 Annual Social and Economic Supplements.

Real Median Household Income: 1967 to 2017 Recessions (Income in 2017 CPI-U-RS adjusted dollars) Peak month Year Trough month Year Year Median Income Year Median Income November 1948 October 1949 July 1953 May 1954 1967 45,965 1993 52,334 August 1957 April 1958 1968 47,946 1994 52,942 April 1960 February 1961 1969 49,728 1995 54,600 December 1969 November 1970 1970 49,342 1996 55,394 November 1973 March 1975 1971 48,862 1997 56,533 January 1980 July 1980 1972 50,955 1998 58,612 July 1981 November 1982 1973 51,984 1999 60,062 July 1990 March 1991 1974 50,338 2000 59,938 March 2001 November 2001 1975 49,020 2001 58,609 December 2007 June 2009 1976 49,833 2002 57,947 Source: National Bureau of Economic Research 1977 50,148 2003 57,875 Cambridge, MA 02138 2004 1 1978 52,089 57,674 www.nber.org 1979 51,990 2005 58,291 1980 50,301 2006 58,746 1981 49,502 2007 59,534 1982 49,368 2008 57,412 1983 49,021 2009 57,010 1984 50,511 2010 55,520 1985 51,455 2011 54,673 1986 53,309 2012 54,569 2013 2 1987 53,945 54,744 2013 3 1988 54,390 56,479 1989 55,329 2014 55,613 1990 54,621 2015 58,476 1991 53,025 2016 60,309 1992 52,615 2017 61,372 1 The 2004 data have been revised to reflect a correction to the weights in the 2005 ASEC. 2 The 2014 CPS ASEC included redesigned questions for income and health insurance coverage. All of the approximately 98,000 addresses were eligible to receive the redesigned set of health insurance coverage questions. The redesigned income questions were implemented to a subsample of these 98,000 addresses using a probability split panel design. Approximately 68,000 addresses were eligible to receive a set of income questions similar to those used in the 2013 CPS ASEC and the remaining 30,000 addresses were eligible to receive the redesigned income questions. The source of these 2013 estimates is the portion of the CPS ASEC sample which received the income questions consistent with the 2013 CPS ASEC, approximately 68,000 addresses. 3 The source of these 2013 estimates is the portion of the CPS ASEC sample which received the redesigned income questions, approximately 30,000 addresses. Note: For changes in survey and data processing methodology, see footnotes in Appendix Table A-1 of the report, Income and Poverty in the United States: 2017, U.S. Census Bureau, Current Population Reports, P60-263. Source: U.S. Census Bureau, Current Population Survey, 1968 to 2018 Annual Social and Economic Supplements. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www2.census.gov/programs-surveys/cps/techdocs/cpsmar18.pdf>.

Poverty Rate and Number in Poverty: 1959 to 2017 Percent Recession 25 20 Pov overty rate 12.3% The official poverty rate in 2017 15 22.4% was 12.3 percent, down 0.4 10 percentage points from 2016. In 5 2017, there were 39.7 million 0 people in poverty, not Numbers in millions 50 statistically different from the 45 39.5 million on Num umber r in n Poverty 40 number in poverty in 2016. 39.7 35 million 30 25 20 1959 1970 1980 1990 2000 2010 2017 Note: The data for 2013 and beyond reflect the implementation of the redesigned income questions. Source: U.S. Census Bureau, Current Population Survey, 1960 to 2018 Annual Social and Economic Supplements. 7

Poverty Rate and Number in Poverty: 1959 to 2017 (Numbers in millions, Rates in percent) Recessions Number in Number in Year Poverty Rate Year Poverty Rate Peak month Year Trough month Year Poverty Poverty 1959 39.5 22.4 1989 31.5 12.8 November 1948 October 1949 1960 39.9 22.2 1990 33.6 13.5 July 1953 May 1954 1961 39.6 21.9 1991 35.7 14.2 August 1957 April 1958 1992 1 1962 38.6 21.0 38.0 14.8 April 1960 February 1961 1963 36.4 19.5 1993 39.3 15.1 December 1969 November 1970 1964 36.1 19.0 1994 38.1 14.5 November 1973 March 1975 1965 33.2 17.3 1995 36.4 13.8 January 1980 July 1980 1966 28.5 14.7 1996 36.5 13.7 July 1981 November 1982 1967 27.8 14.2 1997 35.6 13.3 July 1990 March 1991 1968 25.4 12.8 1998 34.5 12.7 March 2001 November 2001 1999 2 1969 24.1 12.1 32.8 11.9 December 2007 June 2009 2000 2 1970 25.4 12.6 31.6 11.3 Source: National Bureau of Economic Research 1971 25.6 12.5 2001 32.9 11.7 Cambridge, MA 02138 1972 24.5 11.9 2002 34.6 12.1 <www.nber.gov> 1973 23.0 11.1 2003 35.9 12.5 2004 3 1974 23.4 11.2 37.0 12.7 Weighted Average Poverty 1975 25.9 12.3 2005 37.0 12.6 1976 25.0 11.8 2006 36.5 12.3 Thresholds in 2017 1977 24.7 11.6 2007 37.3 12.5 1978 24.5 11.4 2008 39.8 13.2 Size of family unit Threshold 1979 26.1 11.7 2009 43.6 14.3 2010 4 1980 29.3 13.0 46.3 15.1 12,488 One person (unrelated individual) 1981 31.8 14.0 2011 46.2 15.0 12,752 Under 65 years 1982 34.4 15.0 2012 11,756 46.5 15.0 65 years and older 2013 5 1983 35.3 15.2 45.3 14.5 2013 6 1984 33.7 14.4 15,877 46.3 14.8 Two people 1985 33.1 14.0 16,493 2014 46.7 14.8 Householder under 65 years 14,828 1986 32.4 13.6 2015 42.1 13.5 Householder 65 years and older 1987 32.2 13.4 2016 40.6 12.7 1988 31.7 13.00 19,515 2017 39.7 12.3 Three people 25,094 Four people 1 Poverty data for 1992 reflect 1990 Census population controls. 29,714 Five people 2 Poverty data for 1999 and 2000 consistent with 2001 data through implementation of Census 33,618 Six people 38,173 2000-based population controls and a 28,000 household sample expansion. Seven people 3 CPS 2005 ASEC file (2004 data) was corrected after the release of the 2004 Income, 42,684 Eight people Nine people or more 50,681 Poverty and Health Insurance report due to adjustments to the weights. 4 Poverty data for 2010 reflect 2010-based population controls. Source: U.S. Census Bureau, Current Population 5 The 2014 CPS ASEC included redesigned questions for income and health Survey, 2018 Annual Economic Supplement. insurance coverage. All of the approximately 98,000 addresses were eligible to receive the redesigned set of health insurance coverage questions. The redesigned income questions were implemented to a subsample of these 98,000 addresses using a probability split panel design. Approximately 68,000 addresses were eligible to receive a set of income questions similar to those used in the 2013 CPS ASEC and the remaining 30,000 addresses were eligible to receive the redesigned income questions. The source of these 2013 estimates is the portion of the CPS ASEC sample which received the income questions consistent with the 2013 CPS ASEC, approximately 68,000 addresses. 6 The source of these 2013 estimates is the portion of the CPS ASEC sample which received the redesigned income questions, approximately 30,000 addresses. Source: U.S. Census Bureau, Current Population Survey, 1960 to 2018 Annual Social and Economic Supplements. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www2.census.gov/programs-surveys/cps/techdocs/cpsmar18.pdf>.

Comparis ison of SPM M Poverty Estimates: 2016 and 2017 (In Percent) 2016 2017 15.6 15.2 14.5 14.1 14.0 13.9 13.3 13.2 The Supplemental Poverty Measure (SPM) rate in 2017 was 13.9 percent. This is not statistically different from the 2016 SPM rate of 14.0 percent. All People Under 18 18 to 64 65 years years years and older Source: U.S. Census Bureau, Current Population Survey, 2017 and 2018 Annual Social and Economic Supplements. 8