Detailed Tables: Economics

Indicator 6 Poverty
Indicator 7 Income Distribution
Indicator 8 Sources of Income
Indicator 9 Net Worth
Indicator 10 Participation in the Labor Force
Indicator 11 Housing Expenditures

Indicator 6  : Poverty

TABLE 6A:  PERCENTAGE OF THE POPULATION LIVING IN POVERTY, BY AGE GROUP, 1959 TO 1998
UNDER 18 18 TO 64 65 OR OLDER 65 TO 74 75 TO 84 85 OR OLDER
1959 27.3 17.0 35.2 -- -- --
1960 26.9 -- -- -- -- --
1961 25.6 -- -- -- -- --
1962 25.0 -- -- -- -- --
1963 23.1 -- -- -- -- --
1964 23.0
1965 21.0 -- -- -- -- --
1966 17.6 10.5 28.5 -- -- --
1967 16.6 10.0 29.5 -- -- --
1968 15.6 9.0 25.0 -- -- --
1969 14.0 8.7 25.3 -- -- --
1970 15.1 9.0 24.6 -- -- --
1971 15.3 9.3 21.6 -- -- --
1972 15.1 8.8 18.6 -- -- --
1973 14.4 8.3 16.3 -- -- --
1974 15.4 8.3 14.6 -- -- --
1975 17.1 9.2 15.3 -- -- --
1976 16.0 9.0 15.0 -- -- --
1977 16.2 8.8 14.1 -- -- --
1978 15.9 8.7 14.0 -- -- --
1979 16.4 8.9 15.2 -- -- --
1980 18.3 10.1 15.7 -- -- --
1981 20.0 11.1 15.3 -- -- --
1982 21.9 12.0 14.6 12.4 17.4 21.2
1983 22.3 12.4 13.8 11.9 16.7 21.3
1984 21.5 11.7 12.4 10.3 15.2 18.4
1985 20.7 11.3 12.6 10.6 15.3 18.7
1986 20.5 10.8 12.4 10.3 15.3 17.6
1987 20.3 10.6 12.5 9.9 16.1 18.9
1988 19.5 10.5 12.0 10.0 14.6 17.8
1989 19.6 10.2 11.4 8.8 14.6 18.5
1990 20.6 10.7 12.2 9.7 14.9 20.2
1991 21.8 11.4 12.4 10.6 13.9 18.9
1992 22.3 11.9 12.9 10.6 15.2 19.9
1993 22.7 12.4 12.2 10.0 14.2 19.7
1994 21.8 11.9 11.7 10.1 12.8 18.0
1995 20.8 11.4 10.5 8.6 12.3 15.7
1996 20.5 11.4 10.8 8.8 12.5 16.5
1997 19.9 10.9 10.5 9.2 11.3 15.7
1998 18.9 10.5 10.5 9.1 11.6 14.2
 NOT AVAILABLE
Note:   The poverty level is based on money income and does not include noncash benefits, such as food stamps. Poverty thresholds reflect family size and composition and are adjusted each year using the annual average Consumer Price Index level. For more detail, see U.S. Census Bureau, Series P-60, No. 207. For information on the measurement of poverty see note on p. 64.

Reference population: These data refer to the civilian noninstitutional population.

Source: March Current Population Survey.

TABLE 6B:  PERCENTAGE OF PERSONS AGE 65 OR OLDER LIVING IN POVERTY, BY SELECTED CHARACTERISTICS, 1998
TOTAL 10.5
MEN 7.2
WOMEN 12.8
MARRIED 4.9
NONMARRIED 17.4
NON-HISPANIC WHITE 8.2
NON-HISPANIC BLACK 26.4
NON-HISPANIC ASIAN AND PACIFIC ISLANDER 16.0
HISPANIC 21.0
Note: The poverty level is based on money income and does not include noncash benefits, such as food stamps. Poverty thresholds reflect family size and composition and are adjusted each year using the annual average Consumer Price Index level. For more detail, see U.S. Census Bureau, Series P-60, No. 207.
For information on the measurement of poverty see note below.
Reference population: These data refer to the civilian noninstitutional population. 

Source: March Current Population Survey.

THE MEASUREMENT OF POVERTY
The measurement of poverty used in this report is the official poverty measure used by the U.S.Census Bureau. A person is living below poverty if the person lives in a family with before-tax cash income below a defined level of need, called the poverty line. The official poverty line in use today was devised in the early 1960s based on the minimum cost of what was considered to be a nutritionally adequate diet. As originally defined, the poverty index signified the inability of families to afford the basic necessities of living, based on the budget and spending patterns of those Americans with an average standard of living. Since then the poverty line has been updated annually for inflation using the consumer price index for all urban consumers. The poverty line depends on the size of the family and the number of children in the family.

A 1995 report by the National Research Council recommended changing the definition of both the poverty thresholds and the resources that are used to measure poverty. Its recommendations included the following:

Defining income. On the one hand, the definition of family income should be expanded to include other important resources of purchasing power, such as the earned income credit, food stamps, and housing subsidies. On the other hand, some necessary expenditures that reduce a family’s resources available for basic consumption needs should be subtracted from income, such as taxes, necessary child care and other work-related expenditures, child support payments, and out-of-pocket medical expenditures.

Setting a threshold. Poverty thresholds should be adjusted to provide a more accurate measure of family income requirements. First, the consumption bundle used to derive thresholds should be based on food, clothing, and shelter, not food consumption alone. Second, thresholds should reflect regional variations in housing costs. Third, thresholds should be adjusted for family size in a more consistent way than is currently done. Finally, thresholds should be updated to reflect changes in expenditure patterns over time.

A recent Census Bureau report used key elements of the National Research Council proposal to estimate alternative poverty rates from 1990 to 1997. The new measure accounts for medical out-of-pocket expenditures and uses an alternative type of threshold definition from that under the official measure. The new measure tends to decrease the relative poverty rate of persons living alone and those with few medical out-of-pocket expenditures, and to increase the relative poverty rate for persons living with a relative or spouse and those with high medical out-of-pocket expenditures. The Social Security Administration has done an analysis of the experimental measure specifically for the older population.

Sources: Fisher, G. (1992). The development and history of the poverty thresholds. Social Security Bulletin 55 (4)
Citro, C.F. and Michael, R.T. (Eds.). (1995). Measuring poverty: A new approach. Washington, DC: National Academy Press
Short, K., Garner, T., Johnson,D. and Doyle, P. (June 1999). Experimental Poverty Measures: 1990-1997. U.S. Census Bureau, Current Population Reports P60-205. Washington, DC: U.S. Government Printing Office
Olsen, K.A. (1999). Application of experimental poverty measures to the aged. Social Security Bulletin 62(3).


Indicator 7 :  Income Distribution

TABLE 7:  INCOME DISTRIBUTION OF THE POPULATION AGE 65 AND OLDER, 1974 TO 1998
EXTREME POVERTY POVERTY LOW INCOME MEDIUM INCOME HIGH INCOME
1974 1.9 12.7 34.6 32.6 18.2
1975 2.0 13.3 35.0 32.3 17.4
1976 1.9 13.1 34.7 31.8 18.5
1977 1.7 12.5 35.9 31.5 18.5
1978 1.7 12.2 33.4 34.2 18.5
1979 2.4 12.9 33.0 33.6 18.2
1980 2.1 13.6 33.5 32.4 18.4
1981 2.0 13.2 32.8 33.1 18.9
1982 2.5 12.1 31.4 33.3 20.7
1983 2.2 11.5 29.7 34.1 22.4
1984 1.7 10.7 30.2 33.8 23.6
1985 2.0 10.7 29.4 34.6 23.4
1986 2.1 10.4 28.4 34.4 24.8
1987 1.9 10.6 27.8 35.1 24.7
1988 1.9 10.1 28.4 34.5 25.1
1989 2.0 9.4 29.1 33.6 25.9
1990 2.1 10.1 27.0 35.2 25.6
1991 2.2 10.1 28.0 36.3 23.3
1992 2.3 10.6 28.6 35.6 22.9
1993 2.4 9.8 29.8 35.0 23.0
1994 2.5 9.2 29.5 35.6 23.2
1995 1.9 8.5 29.1 36.1 24.3
1996 2.1 8.6 29.5 34.7 25.1
1997 2.2 8.3 28.1 35.3 26.0
1998 2.3 8.1 26.8 35.3 27.5
Note:
The income classes are derived from the ratio of the family’s income to the family’s poverty threshold. Extreme poverty is less than 50 percent of the poverty threshold (i.e., $3,909 for one person age 65 or over in 1998). Poverty is between 50 and 99 percent of the poverty threshold (i.e., between $3,909 and $7,817 for one person age 65 or over in 1998). Low income is between 100 and 199 percent of the poverty threshold (i.e., between $7,818 and $15,635 for one person age 65 or over in 1998). Medium income is between 200 and 399 per-cent of the poverty threshold (i.e., between $15,636 and $31,271 for one person age 65 or over in 1998). High income is 400 percent or more of the poverty threshold.
Reference population: These data refer to the civilian noninstitutional population.
Source: March Current Population Survey.

Indicator 8 : Sources of Income

TABLE 8A:  DISTRIBUTION OF SOURCES OF INCOME FOR THE POPULATION AGE 65 AND OLDER, 1962 TO 1998
TOTAL SOCIAL SECURITY ASSET INCOME PENSIONS EARNINGS OTHER
1962 100 31 16 9 28 16
1967 100 34 15 12 29 10
1976 100 39 18 16 23 4
1978 100 38 19 16 23 4
1980 100 39 22 16 19 4
1982 100 39 25 15 18 3
1984 100 38 28 15 16 3
1986 100 38 26 16 17 3
1988 100 38 25 17 17 3
1990 100 36 24 18 18 4
1992 100 40 21 20 17 2
1994 100 42 18 19 18 3
1996 100 40 18 19 20 3
1998 100 38 20 19 21 2
Reference population: These data refer to the civilian noninstitutional population.
Source:  March Current Population Survey, Survey of the Aged, and Survey of Demographic and Economic Characteristics of the Aged.

TABLE 8B:  SOURCES OF INCOME AMONG PERSONS AGE 65 OR OLDER, BY INCOME LEVEL, 1998
LOWEST FIFTH SECOND FIFTH THIRD FIFTH FOURTH FIFTH HIGHEST FIFTH
TOTAL 100.0 100.0 100.0 100.0 100.0
SOCIAL SECURITY 82.1 80.5 63.8 45.2 18.3
ASSET INCOME 2.4 6.1 10.5 13.7 27.9
PENSIONS 3.3 6.6 14.9 24.4 20.5
EARNINGS 0.7 3.2 7.3 13.1 31.1
PUBLIC ASSISTANCE 9.8 1.8 0.7 0.2 0.0
OTHER 1.8 1.8 2.8 3.3 2.1
Reference population: These data refer to the civilian noninstitutional population.

Source:  March Current Population Survey.


Indicator 9 : Net Worth

TABLE 9: MEDIAN HOUSEHOLD NET WORTH, BY SELECTED CHARACTERISTICS, IN THOUSANDS OF 1999 DOLLARS, 1984 TO 1999
1984 1989 1994 1999
AGE OF HEAD OF HOUSEHOLD
45 TO 54  $   110.6  $   98.5  $   107.3  $   85.0
55 TO 64  $  118.6  $  149.8  $  157.4  $  145.0
65 TO 74  $  109.2  $  126.3  $  130.4  $  190.0
65 OR OLDER  $   93.0  $  101.5  $  112.4  $  157.6
75 OR OLDER  $    80.2  $    84.0  $    93.9  $   132.9
MARITAL STATUS, HEAD OF HOUSEHOLD AGE 65 OR OLDER
MARRIED  $  145.9  $  184.8  $  204.6  $  234.0
UNMARRIED  $   65.7  $   61.8  $   70.8  $   83.7
RACE,HEAD OF HOUSEHOLD AGE 65 OR OLDER
BLACK  $   24.0  $   30.2  $   41.6  $   13.0
WHITE  $  105.3  $  115.6  $  125.9  $  181.0
EDUCATION, HEAD OF HOUSEHOLD AGE 65 OR OLDER
NO HIGH SCHOOL DIPLOMA  $   52.0  $   53.1  $   61.8  $   63.1
HIGH SCHOOL DIPLOMA ONLY  $  128.7  $  137.0  $  120.3  $  157.4
SOME COLLEGE OR MORE  $  203.6  $  235.2  $  265.3  $  301.0
Note: Medians are calculated using sample weights. The survey measures net equity in homes and nonhousing assets divided into six categories: other real estate and vehicles; farm or business ownership; stocks, mutual funds, investment trusts, and stocks held in IRAs; checking and savings accounts, CDs, treasury bills, savings bonds, and liquid assets in IRAs; bonds, trusts, life insurance, and other assets; and other debts. The survey measure of net worth excludes the present value of future private pensions and rights to future Social Security payments.
Reference population: These data refer to the civilian noninstitutional population.

Indicator 10 : Participation in the Labor Force

TABLE 10:  LABOR FORCE PARTICIPATION RATES OF PERSONS AGE 55 OR OLDER, BY AGE GROUP AND SEX, ANNUAL AVERAGES, 1963 TO 1999
MEN WOMEN
55 TO 61 62 TO 64 65 TO 69 70 OR OLDER 55 TO 61 62 TO 64 65 TO 69 70 OR OLDER
1963 89.9 75.8 40.9 20.8 43.7 28.8 16.5 5.9
1964 89.5 74.6 42.6 19.5 44.5 28.5 17.5 6.2
1965 88.8 73.2 43.0 19.1 45.3 29.5 17.4 6.1
1966 88.6 73.0 42.7 17.9 45.5 31.6 17.0 5.8
1967 88.5 72.7 43.4 17.6 46.4 31.5 17.0 5.8
1968 88.4 72.6 43.1 17.9 46.2 32.1 17.0 5.8
1969 88.0 70.2 42.3 18.0 47.3 31.6 17.3 6.1
1970 87.7 69.4 41.6 17.6 47.0 32.3 17.3 5.7
1971 86.9 68.4 39.4 16.9 47.0 31.7 17.0 5.6
1972 85.6 66.3 36.8 16.6 46.4 30.9 17.0 5.4
1973 84.0 62.4 34.1 15.6 45.7 29.2 15.9 5.3
1974 83.4 60.8 32.9 15.5 45.3 28.9 14.4 4.8
1975 81.9 58.6 31.7 15.0 45.6 28.9 14.5 4.8
1976 81.1 56.1 29.3 14.2 45.9 28.3 14.9 4.6
1977 80.9 54.6 29.4 13.9 45.7 28.5 14.5 4.6
1978 80.3 54.0 30.1 14.2 46.2 28.5 14.9 4.8
1979 79.5 54.3 29.6 13.8 46.6 28.8 15.3 4.6
1980 79.1 52.6 28.5 13.1 46.1 28.5 15.1 4.5
1981 78.4 49.4 27.8 12.5 46.6 27.6 14.9 4.6
1982 78.5 48.0 26.9 12.2 46.9 28.5 14.9 4.5
1983 77.7 47.7 26.1 12.2 46.4 29.1 14.7 4.5
1984 76.9 47.5 24.6 11.4 47.1 28.8 14.2 4.4
1985 76.6 46.1 24.4 10.5 47.4 28.7 13.5 4.3
1986 75.8 45.8 25.0 10.4 48.1 28.5 14.3 4.1
1987 76.3 46.0 25.8 10.5 48.9 27.8 14.3 4.1
1988 75.8 45.4 25.8 10.9 49.9 28.5 15.4 4.4
1989 76.3 45.3 26.1 10.9 51.4 30.3 16.4 4.6
1990 76.7 46.5 26.0 10.7 51.7 30.7 17.0 4.7
1991 76.1 45.5 25.1 10.5 52.1 29.3 17.0 4.7
1992 75.7 46.2 26.0 10.7 53.6 30.5 16.2 4.8
1993 74.9 46.1 25.4 10.3 53.8 31.7 16.1 4.7
1994 73.8 45.1 26.8 11.7 55.5 33.1 17.9 5.5
1995 74.3 45.0 27.0 11.6 55.9 32.6 17.5 5.3
1996 74.8 45.7 27.5 11.5 56.4 31.8 17.2 5.2
1997 75.4 46.2 28.4 11.6 57.3 33.6 17.6 5.1
1998 75.5 47.3 28.0 11.1 57.6 33.3 17.8 5.2
1999 75.4 46.9 28.5 11.7 57.9 33.7 18.4 5.5
Reference population: These data refer to the civilian noninstitutional population.
Source: Current Population Survey.

Indicator 11 : Housing Expenditures

TABLE 11:  PERCENTAGE OF TOTAL ANNUAL EXPENDITURES ALLOCATED TO HOUSING COSTS IN HOUSEHOLDS HEADED BY PERSONS AGE 65 OR OLDER, BY INCOME LEVEL, 1987 TO 1998
1987 1989 1992 1994 1996 1998
PERCENTAGE ALLOCATED TO HOUSING
LOWEST FIFTH 33.4% 34.8% 37.5% 34.5% 36.2% 36.0%
SECOND FIFTH 33.0% 31.4% 32.5% 35.5% 34.0% 35.3%
THIRD FIFTH 28.8% 28.3% 30.0% 26.3% 29.8% 28.7%
FOURTH FIFTH 26.7% 23.9% 26.1% 26.4% 28.9% 28.0%
HIGHEST FIFTH 20.5% 21.8% 23.3% 23.6% 24.1% 25.8%
AVERAGE EXPENDITURES ON HOUSING
LOWEST FIFTH  $     2,842  $     3,076  $     3,813  $     3,919  $     4,309  $     4,686
SECOND FIFTH  $     3,410  $     3,648  $     4,161  $     4,885  $     4,891  $     5,743
THIRD FIFTH  $     3,525  $     4,232  $     4,853  $     4,834  $     5,753  $     5,930
FOURTH FIFTH  $     4,186  $     4,739  $     5,737  $     6,575  $     6,826  $     7,147
HIGHEST FIFTH  $     5,403  $     7,010  $     7,625  $     8,925  $     9,791  $    10,119
AVERAGE TOTAL EXPENDITURES
LOWEST FIFTH  $     8,502  $     8,835  $    10,172  $    11,375  $    11,900  $    13,032
SECOND FIFTH  $    10,332  $    11,617  $    12,784  $    13,747  $    14,378  $    16,252
THIRD FIFTH  $    12,232  $    14,965  $    16,189  $    18,401  $    19,315  $    20,696
FOURTH FIFTH  $    15,676  $    19,788  $    22,011  $    24,894  $    23,647  $    25,509
HIGHEST FIFTH  $    26,301  $    32,117  $    32,659  $    37,757  $    40,602  $    39,170
Note: For the purposes of this report, housing is defined as “basic housing” (i.e., shelter and utilities). Shelter includes payments for mortgage interest and charges; property taxes; maintenance, repairs, insurance, and other expenses; and rent; rent as pay; and maintenance, insurance, and other expenses for renters. “Basic housing” is defined to include utilities because some renters have these costs included in their rent; furthermore, they are a cost that most consumer units incur to provide a tolerable living environment, whether it be for heating and cooling, cooking, or lighting. Quintiles/income fifths are used to define the five levels of income. In this analysis, the term “household” is used in place of “consumer unit.“ A consumer unit is used to describe members of a household related by blood, marriage, adoption, or other legal arrangement; single persons who are living alone or sharing a household with others but who are financially independent; or two or more persons living together who share responsibility for at least two of three major types of expenses (food, housing, and other expenses). The income distribution was determined for the subset of all consumer units where the reference person was age 65 or older.
Reference population: These data refer to the resident noninstitutional population.
Source: Consumer Expenditure Survey.

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