NYC poverty falls to lowest rate considering earlier than the crash

June 07, 2019 10:26 AM

The poverty price in new york city fell 1 percentage aspect to sixteen.6% in 2017, losing to a stage now not seen for the reason that earlier than the first rate Recession in a sign of how the ten-12 months financial growth has helped those on the backside of the economic ladder.

in the meantime, a poverty measure adjusted by the metropolis for the city's greater housing charges and security web courses like SNAP and the earned profits tax credit fell to 19%, in response to a record issued by way of the Mayor's office for economic possibility Monday. The figure ties 2008 for the bottom level due to the fact that the city started publishing its own determine in 2005.

Crain's this week is examining how the metropolis has changed given that the super Recession ended 10 years ago this month. click here to peer infographic on poverty, statistics points on inequality and a look at housing.

Mayor bill de Blasio took credit score for the beneficial properties, noting that 236,500 escaped poverty all over his first time period. "This record reveals that daring revolutionary guidelines from pre-okay to paid unwell leave combined with increases within the minimum wage are uplifting working people across the city," talked about the presidential candidate in an announcement.

His press free up didn't compare financial positive aspects in the metropolis to those in other U.S. cities.

The city's calculation of the close poor, which means people who make up to a hundred and fifty% of the federal poverty level, remained unchanged in 2017 at 43.1%.

listed below are the key numbers for poverty in the city. The asteriks are for a family unit of 4.

authentic rate sixteen.6% NYC calculated expense 19% professional threshold $24,858* NYC poverty threshold $33,562* NYC close poverty rate 43.1% NYC near poverty threshold $50,343*

source: NYC govt Poverty Measure report