(BLACK PR WIRE) – The Congressional Budget Office (CBO) provides information of an 18 percent split of financial income in America, from the study of Trends in the Distribution of Household Income Between 1979 to 2007, published October 2011.
Florida residents are unaware of the increasing gap of the financial inequality that affects the income of nearly 60 percent of households in America.
More than one in six Floridians are living poverty — the highest it has been in more than a decade, according to Census figures released this week.
Sixteen percent of Floridians were below the poverty level in 2010, up from 14.6 percent in 2009 reflecting a continuation of a steady climb in recent years. Florida’s 2010 rate is the highest it has been since 1995 when it was 16.2 percent.
Housing values crashed. Renting became more popular. Much of the population slipped a rung down the wealth ladder. And Miami seems to be booming.
A deluge of Census data released Tuesday crystalized some of the trends under way as South Florida reckons with a wrenching economic downturn, a tepid recovery and a transformed real estate market. One side effect: Thousands of cheap urban condos built during the boom are now attracting renters and bargain hunters.
Rising poverty cast its shadow across the Tampa Bay region in 2009, fueled by the ongoing economic downturn.
The latest government estimates, released Tuesday by the U.S. Census Bureau, show the number of people living in poverty has been growing steadily since 2006 in Hillsborough, Pinellas, Pasco and Polk counties.
Children have been hit the hardest in the Bay area, where about one in five people younger than 18 live in poverty, according to census estimates.
Four out of 10 households in Marion County are occupied by someone who is 65 or older.
That is perhaps no surprise in Florida which, according to recently released census statistics, ranks first in the nation for percentage of older households.
