Tag Archives: recession

How Many of Gallons of Gas Can You Purchase With Your Weekly Income?

Click to enlarge

The average weekly income in the US has been going up in the last fifty years, at least in nominal terms, as seen in the first graph. The price of a gallon of gas has been trending up as well, with spikes beginning in 2002 up to 2008, when gas prices decreased dramatically as a consequence of the economic recession. In 2010 gas prices increased again and continue rising to this day, as seen in the second graph. It is worth noting that the number of gallons of gas that can be purchased by a person earning an average income has been decreasing steadily since 1998.

 

Poverty in the U.S.

According to data just released by the U.S. Census Bureau, 15% of the population lives in poverty, that is 46.2 million of people. Those numbers are not statistically different from the 2010 estimates. In 2011 the poverty threshold for a family of four was $23,021.

The poverty rate for males decreased between 2010 and 2011 to 13.6%, and remained the same for females at 16.3%. The poverty rate for Hispanics declined between 2010 and 2011. By age, the group with the highest poverty rate was that of children under 18 at a rate of 21.9%. By region, the only region to show a significant change was the South with a decline in the poverty rate from 16.8% to 16.0%. Read more…