- Post 22 September 2012
- By Copy Editor
“People are getting squeezed from every direction,” said James Newton, chief economic adviser to Commerce National Bank.
When adjusted for inflation, the 2010 annual median household income in Ohio of $46,093 was down by $543 from the previous year, and down 15.3 percent from the peak of $54,395 in 2000, according to the census’s Current Population Survey, which was released yesterday.
The inflation-adjusted figure hasn’t been lower for Ohio since officials began keeping that record in 1984, census officials said.
Ohio’s level of poverty — 15.3 percent — was worse than the nation’s, which was at 15.1 percent. Ohio’s level jumped 2 percentage points from 2009; it has never been this high since those records were first kept in 1980.
The worst year before 2010 was 1994, when 14.1 percent of Ohioans were in poverty.
The 15.3 percent translates into 1.74 million Ohio residents living below the poverty line last year, which means a family of four making less than $22,300 a year. About 639,000 Ohioans younger than 18 were in poverty, and 244,000 children younger than 5 were. ... Full Story...