Economic hardship persisted at high levels in the nation and North Carolina in 2013, according to new figures released today from the Census Bureau’s Current Population Survey (CPS). The 2013 national poverty rate was 14.5 percent, down from 15 percent in 2012 but still well-above pre-recession levels four years into the official economic recovery. There were 45.3 million Americans living below the official federal poverty line, which was $11,490 for an individual and $23,550 for a family of four in 2013.
There is broad consensus that poverty rates will not drop to pre-recession levels anytime soon. And, two economic factors suggested that poverty rates would remain elevated in 2013, as the Center on Budget and Policy Priorities explains. First, the economy is growing but those gains continue to bypass middle- and lower-income families and are mostly benefitting the wealthy. Second, lawmakers enacted austerity measures in 2013 that reduced public contributions to the economy and failed to put children, families, and communities on a better path forward. Read More