Philadelphia Metropolis

Answer No. 5: When the number of poor rises

Philadelphia has more people than 10 years ago, but it has less wealth.  The number of people living in poverty has increased by 18 percent since the turn of the new century. It took a big jump between last year and 2009, no doubt due to the recession.poverty_400.jpg

As important, the income of everyday Philadelphian's has failed to keep pace with inflation, even though inflation has been low most of this decade.

In 1999, for instance, Median House Income was equal to $41,872, once the numbers are adjusted for inflation.  Last year, it was $37,408.

Individually, some people and neighborhood have done well.  Collectively, the wealth of city residents has declined by 10 percent in the last decade.

The loss of that wealth -- which is a reflection of the loss of jobs and the unemployment rate -- is causing a lot of pain. People are feeling the pinch. More and more are slipping into poverty.  

 

blog comments powered by Disqus
Site by MartinKelley.com