Great Recession
9.3 million Americans lost health insurance during the recessionPosted by RJ and Makay on Dec 12, 2011 |
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Approximately 9.3 million American adults lost health insurance coverage due to increased unemployment during the recession of 2007-2009, according to a new study by researchers at Cornell, Indiana and Carnegie Mellon universities. The study, “The Impact of the Macroeconomy on Health Insurance Coverage: Evidence From the Great Recession,” relies on data from the Census Bureau.
The nation’s poverty rate increased to 15.1% of the population in 2010, up from 14.3% in 2009 and 12.5% in 2007, according to the latest Census Bureau report released Tuesday. 46.2 million people now live below the poverty line as represented by an annual income of $22,314 for a family of four. On a percentage basis, the current numbers tied the 1993 level and are the highest since 1983.
The U.S. economy has expanded at a slower rate than expected this Spring as consumers reduced spending, and revisions show that the slowdown since the beginning of the year was more drastic than previously thought, according to a Commerce Department report released today. Gross domestic product (GDP) rose at an annualized seasonally adjusted rate of 1.3% from April to June, and first-quarter growth was revised downward to 0.4% from an earlier 1.9% estimated gain. Economists had expected second-quarter GDP to rise 1.8%.
