New Figures Show Drop in U.S. Median Income

QuickLoansBadCredit.org comments on new figures that show a drop in the median U.S. income signaling that more Americans are "working poor" as poverty figures also drop

News provided by

QuickLoansBadCredit.org

Aug 26, 2013, 09:00 ET

ST. LOUIS, August 26, 2013 /PRNewswire/ --

According to data released by the U.S. Census Bureau and reported by CNN Money, middle-class Americans have experienced a drop in their median household income in 2011. The figures show that within that year the median income dropped down by 1.5%, indicative of a widening of an overall income inequality in the nation. While the top earners experienced an increase in their incomes, individuals and families with middling incomes saw theirs decrease.

This was also accompanied by a decrease in the national poverty rate in 2011. This now stands at 15%, down from 15.1% in 2010. In America in 2012, the report calculates that 46.2 million citizens fell below the poverty line, with some one in five children being affected. Conversely, at the other end of the scale, the top 1% of earners in the U.S. saw their incomes increase by 6% in 2011.

Sam Milo, spokesperson for QuickLoansBadCredit.org, commented on the results of the new report in the following official statement that was released to the press.

"It's official - the rich get richer and those in the middle become worse off, while there appears to be little improvement for those living on the lowest incomes. According to these new figures, the poverty threshold for a family of four is calculated to be $23,021. This is a modest income that millions of hardworking middle-class or "working poor" Americans are forced to make work for their families."

The statement continued to address the difficulty many Americans on low incomes have when faced with bad credit and in need of lending options. "When an emergency strikes or there is a need to cover a large expenditure such as car repairs, medical bills or essential home repairs, banks are unwilling to make loans available at affordable rates if the applicant has bad credit. We work with a network of lenders that understand the needs of the average American and can provide affordable, competitive personal loans to those with bad credit or low incomes."

QuickLoansBadCredit.org is a McAfee Secure™ rated website that offers fast, free and confidential application submission services to top online lenders. Learn more or apply at: http://www.QuickLoansBadCredit.org

Contact:
Sam Milo
Tel :+1-972-591-8548
[email protected]

SOURCE QuickLoansBadCredit.org