Saturday, September 20, 2014

MassBudget: New Census Data: US & MA Households See Few Gains during Recovery


US & MA Households See Few Gains during Recovery, New Census Data Show

Today's census report shows that our nation's economic recovery is not yet substantially expanding economic opportunity for working people and families across the nation and in Massachusetts. Median incomes have barely budged and poverty remains stubbornly high. For more, read MassBudget's new factsheet, available HERE.

Today's report indicates that the median household income in Massachusetts was $66,768 in 2013.That's higher than the national median of $52,250, but is 5.6 percent (or $3,990) below the previous state high (in 2008). As in the rest of the nation, in Massachusetts incomes declined significantly in the wake of the Great Recession and have barely begun to grow again. Equally disturbing, real median incomes across the nation showed almost no growth over the business cycle (from 2000-2007) prior to the recent recession (average real annual increases were less than one quarter of one percent per year).

With incomes down since the start of the recession, poverty has increased. In Massachusetts, more than one in nine people overall lived in poverty in 2013 and almost one in six children did so. As with incomes, that's better than the nation overall, but worse than our Commonwealth had done before the recession. Overall poverty is up 2.0 percentage points since 2007 and child poverty is up 3.4 percentage points.

The economic challenges facing the nation and Massachusetts include both finding ways to strengthen the economy and making sure that economic progress translates into increased incomes, better working conditions, and reduced poverty in all communities in our Commonwealth.

Click HERE to read the factsheet

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The Massachusetts Budget and Policy Center (MassBudget) produces policy research, analysis, and data-driven recommendations focused on improving the lives of low- and middle-income children and adults, strengthening our state's economy, and enhancing the quality of life in Massachusetts.

Massachusetts Budget and Policy Center | 15 Court Square | Suite 700 | Boston | MA | 02108

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