Friday, September 21, 2012

Median income in Ohio hits 27-year low

The Columbus Dispatch
September 21, 2012


Ohio households were poorer last year than they’ve been in more than 25 years, and the number of people living in poverty is higher than it’s been in more than 30 years, according to a census report released yesterday.
“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.

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