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Real median household income remained unchanged between 2002 and 2003 at $43,318, according to a report released today by the U.S. Census Bureau. At the same time, the nation’s official poverty rate rose from 12.1 percent in 2002 to 12.5 percent in 2003. The number of people with health insurance increased by 1.0 million to 243.3 million between 2002 and 2003, and the number without such coverage rose by 1.4 million to 45.0 million. The percentage of the nation’s population without coverage grew from 15.2 percent in 2002 to 15.6 percent in 2003.
Real median income did not change between 2002 and 2003 for non-Hispanic white households (about $48,000), black households (about $30,000) or Asian households (about $55,500).
Households with Hispanic householders (who can be of any race) experienced a real decline in median income of 2.6 percent between 2002 and 2003.
Income inequality showed no change between 2002 and 2003 when measured by the Gini index. The share of aggregate income received by the lowest household income quintile (20 percent of households) declined from 3.5 percent to 3.4 percent, while remaining unchanged for the other quintiles.
The number of people below the official poverty thresholds numbered 35.9 million in 2003, or 1.3 million more than in 2002, for a 2003 poverty rate of 12.5 percent. Although up from 2002, this rate is below the average of the 1980s and 1990s.
The poverty rate and number of families in poverty increased from 9.6 percent and 7.2 million in 2002 to 10.0 percent and 7.6 million in 2003. The corresponding numbers for unrelated individuals in poverty in 2003 were 20.4 percent and 9.7 million (not different from 2002).
The number of people with health insurance coverage rose from 242.4 million in 2002 to 243.3 million in 2003. Nonetheless, the percentage with coverage dropped from 84.8 percent to 84.4 percent, mirroring a drop in the percentage of people covered by employment-based health insurance (61.3 percent in 2002 to 60.4 percent in 2003). This decline in employment-based health insurance coverage essentially explains the drop in total private health insurance coverage, from 69.6 percent in 2002 to 68.6 percent in 2003.
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