Revised govt formula shows new poverty high: 49.1M

Revised govt formula shows new poverty high: 49.1M
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POSTED: Monday, November 7, 2011 - 9:56am

UPDATED: Monday, November 7, 2011 - 9:56am

New census estimates show the number of Americans living in poverty is higher than previously known - reaching a new level of 49.1 million, or 16 percent.

The numbers released Monday are a new supplemental poverty measure aimed at providing a fuller picture of poverty of America.

They are higher than the official 2010 poverty rate of 15.1 percent, or a record 46.2 million, that was reported in September.

Much of the increase in the new measure comes from rising everyday costs, such as out-of-pocket medical expenses, that aren't factored into the official rate. Americans 65 or older had the biggest poverty jump - 15.9 percent, versus 9 percent under the official formula.

For Hispanics, poverty rose to 28.2 percent, surpassing that of blacks for the first time.

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