Thursday, July 07, 2011

Study: 77% lift themselves out of poverty over 3 years

But if you're a typical American, the truth is that poverty, for you, will be a short-lived experience. But you don't have to take our word for it. The U.S. Census, whose job it is to count all Americans regardless of their economic situation, says so!

In Dynamics of Economic Well-Being: Poverty, 2004-2006, Robin J. Anderson finds that for the people who were counted as being in poverty at different times during this three year period, some 77% lifted themselves out of poverty.

Remarkably, for all those who were in poverty for two or more consecutive months in the time from 2004 to 2006, the typical duration of being in poverty was 4.5 months, with 47.7% getting out of poverty in four months or less, but with 12.4% lasting more than 24 months.