In the US, the 'poverty threshold' for a family of four is $25,700, and the poverty rate was 11.8% in 2018. Detroit, MI, Cleveland, OH, and Dayton, OH are the three poorest cities. Detroit's unemployment rate is 19.8%, poverty rate 37.9%, and median income $27,838.
The top 1% in the US owned 32.3% of the nation's wealth, vastly more than the bottom 90% owning only 30.2% of wealth, showcasing extreme income inequality.
Inflation in the US has surpassed the 2% annual target set by the Federal Reserve, burdening Americans. Moody's Analytics reports costs increased significantly, with households spending $709 more in July 2023 than in July 2021.
Poverty's impact is long-lasting, causing health risks, social issues, and human rights violations. Children are especially affected by the consequences of poverty, leading to a cycle of harm.
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