Stunning: Nearly Half of New Yorkers Are Struggling to Get ByApril 30, 2014 2:40 pm
That’s definitely not something you think of when you think about the financial capital of the world. We spotted this disturbing stat today, that about 46 percent of New Yorkers make less than 150 percent of the official poverty threshold.
Under the federal standard, a family of two adults and two children was defined as poor in 2012 if it made less than $23,283, yielding a poverty rate of 20 percent in the city. Under the city’s definition, which takes into account benefits like food stamps and expenses like higher living costs, the income threshold was $31,039, resulting in a rate of 21.4 percent (Source)