January 6, 2017

US Poverty Rate Since 1990

   January 6, 2017

US Poverty Rate Since 1990

US_Poverty_Rate_Since_1990_data_TMMChart (1)

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Editor’s Remarks:
Some 43 million people lived in poverty in the US in 2015, or 13.5% of the population. The percentage spiked during the financial crisis and then continued on a downward path during Barack Obama’s two terms in the White House. Still, the country is battling growing inequality and a significant portion of the disgruntled population is likely to have cast a vote for Donald Trump. US industry has taken a hit from production moving to countries with cheaper raw materials and labour costs, something Trump has vowed to tackle by reducing corporate taxes. With this move, he hopes to convince companies to repatriate production and create more jobs. Just this week, Ford succumbed to his pressure and decided not to move production to Mexico, instead of investing a further $700m in the US, which will save 3500 previously at risk jobs and create a further 700. Mexico, on the other hand, has almost half of its population – 46% or 55 million people in 2014 – living in poverty. It is no wonder, therefore, that Mexicans are willing to weather Trump’s anti-immigrant rhetoric and face potential jail time for a shot at the American dream. It remains to be seen whether Trump finds a way to cut poverty numbers in his own country since it seems his stance is already affecting the US’s neighbour.

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