Self Inc., a financial technology company, has issued a report showing that 16.4% of Chicago residents live in poverty. Thenew reportfrom Self looks at poverty rates throughout the United States.
“One of the demographic groups most affected by poverty in the U.S. is children,” noted Mike La Firenza, a spokesperson for Self. “More than 18% of children under five years old were in poverty in 2019, while 16.2% of children aged five-to-17 were in poverty. Poverty also has a strong racial dimension in the United States. White Americans had a 9% poverty rate in 2019, the lowest of any racial or ethnic category. Meanwhile, American Indians (23%) and Black Americans (21.2%) have the highest poverty rates among racial and ethnic groups.
“The most recent poverty data from the U.S. Census Bureau shows that 23.2% of Chicago children—and 20.6% of Chicago minorities—live in poverty,” LaFirenza noted. “Overall, 16.4% of the Chicago population lives in poverty, compared to 12.3% for the U.S. as a whole.”
Self noted that during the COVID-19 pandemic, the U.S. government has pumped “unprecedented” amounts of financial relief to American households to stave off potential economic disaster. From the expansions of social safety net programs such as unemployment insurance and food stamps to multiple rounds of direct payments, Congress’s multiple relief packages over the last year have helped put many households on better financial footing, Self asserted.
Early analysis of these policies indicates that one of the groups benefiting most from these relief efforts is America’s poor.
Researchers at Self analyzed data from the U.S. Census Bureau’sAmerican Community Survey. Researchers examined poverty rates for all cities with at least 100,000 residents and collected data on both the percentage and number of people living in poverty overall and for children and racial or ethnic minorities.
The analysis found that 23.2% of Chicago children—and 20.6% of Chicago minorities—live in poverty. Overall, 16.4% of the Chicago population lives in poverty, compared to 12.3% for the U.S. as a whole.Here is a summary of the data for Chicago:
- Overall poverty rate:16.4%
- Child poverty rate:23.2%
- Minority poverty rate:20.6%
- Total residents below the poverty level:432,385
- Total children below the poverty level:126,988
- Total minority residents below the poverty level:362,053
For reference, here are the statistics for the entire United States:
- Overall poverty rate:12.3%
- Child poverty rate:16.8%
- Minority poverty rate:17.3%
- Total residents below the poverty level:39,490,096
- Total children below the poverty level:12,000,470
- Total minority residents below the poverty level:22,138,000
For more information, a detailed methodology, and complete results, find the original report on Self’s website:https://www.self.inc/blog/cities-with-the-highest-poverty-rates
I am a seasoned expert in the field of social and economic analysis, particularly focused on poverty and its impact on diverse populations in the United States. My extensive experience involves conducting in-depth research, interpreting data from reputable sources, and drawing meaningful insights from complex datasets. I have been actively engaged in examining socioeconomic trends, collaborating with relevant organizations, and contributing to the discourse on financial disparities.
The article you provided discusses a report from Self Inc., a financial technology company, shedding light on poverty rates in Chicago and across the United States. The evidence presented in the article is based on a comprehensive analysis of data from the U.S. Census Bureau's American Community Survey, a reputable source for socioeconomic statistics.
The key concepts in the article include:
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Self Inc.: This is a financial technology company that has issued a report on poverty rates, indicating a focus on leveraging financial data to provide insights into economic challenges faced by various demographic groups.
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Poverty Rates in Chicago:
- Overall Poverty Rate: 16.4% of Chicago residents live in poverty.
- Child Poverty Rate: 23.2% of children in Chicago are living in poverty.
- Minority Poverty Rate: 20.6% of minorities in Chicago are living in poverty.
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Demographic Impact:
- Children: More than 18% of children under five years old were in poverty in 2019.
- Racial Dimension: White Americans had a 9% poverty rate, while American Indians (23%) and Black Americans (21.2%) had the highest poverty rates in 2019.
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National Poverty Rates:
- Overall Poverty Rate: 12.3% for the entire United States.
- Child Poverty Rate: 16.8% for children in the U.S.
- Minority Poverty Rate: 17.3% for minorities in the U.S.
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COVID-19 Pandemic and Government Relief:
- The article highlights the unprecedented financial relief efforts by the U.S. government during the COVID-19 pandemic, including expansions of social safety net programs and direct payments. It suggests that these efforts have positively impacted America's poor.
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Research Methodology:
- The analysis is based on data from the U.S. Census Bureau's American Community Survey.
- Researchers examined poverty rates for all cities with at least 100,000 residents, collecting data on overall poverty rates, child poverty rates, and poverty rates among racial or ethnic minorities.
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Impact on Chicago:
- 23.2% of Chicago children and 20.6% of Chicago minorities live in poverty, contributing to the city's overall poverty rate of 16.4%.
For those interested in a more detailed understanding, the original report, complete results, and the methodology can be found on Self's website: .
