The US Census Bureau in its report said 13.5 per cent of Americans lived in poverty in 2015, a reduction of 1.2 per cent from 2014.
The last time poverty rates declined this much from year to year was from 1998 to 1999 - making this the largest decline in poverty rates over the past 16 years, the Census Bureau said.
Since the financial crisis of 2008, the number of people living in poverty in the US has increased by more than 3.3 million.
"The federal government invests billions of dollars each year in programs to help low-income Americans - but more than 43 million people continue to live in poverty. It shouldn't be this way in America," he said.
Between 2014 and 2015, poverty rates declined for many different demographic groups.
Poverty rates fell for both males and females.
In 2015, 12.2 per cent of males were in poverty while 14.8 per cent of females were in poverty, Census Bureau said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
