Colorado Households Faced Shrinking Incomes, Higher Poverty in Recession

Coloradans have not recovered yet from the Great Recession in terms of household incomes and the number of those afflicted by poverty.

The U.S. Census Bureau’s 2012 American Community Survey found that the median household income in the state shrank by about 13 percent between 2008 and 2012, from $65,054 to $56,765 in 2012. The numbers are adjusted for inflation.

While income was shrinking, poverty rates, perhaps not surprisingly, went in the opposite direction. The overall poverty in Colorado jumped from 11.4 percent to 13.7 percent between 2008, when the recession deepened, and 2012. The percent of children under 18 living in poverty rose to 18.5 percent, or about one in every six, from 15 percent in 2008.

The federal poverty line for a family of three is currently set at about $19,500.

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