Median Income in Lowell Plummets as Poverty Rises
Associated Press Reports on New Poverty Measure
The U.S. Census Bureau released new poverty data this week. Based on a revised formula that considers not only income but also benefits and expenses, more people are experiencing poverty than originally understood.
Even without this adjustment, the poverty rate in Lowell increased by more than 17% from 2011 to 2012. Today nearly 1 in 5 Lowell families live in poverty. In addition to climbing poverty rates, Census Data indicate that Lowell families have experienced a staggering reduction in household income. The median household income in Lowell dropped from $52,131 in 2011 to $45,271 in 2012.
When families have less money to spend at area businesses and contribute less to the collective coffers the economy suffers. Businesses struggle, fewer jobs are created, public safety is jeopardized, and our community deteriorates. We’ve come too far to let that happen. A strong economy benefits everyone.
Community Teamwork is working to strengthen our economy by acting as a catalyst for social change and by delivering vital services and collaborating with key stakeholders to create housing, education and economic opportunities.
Please join us to keep Lowell vital and to ensure that every Lowell resident has the opportunity to contribute to a stronger economic future for us all.
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Read the full report here.