New York poverty rate set record in 2010

The report, released on Tuesday, found that the number of the New Yorkers classified as poor in the year increased by nearly 100,000 from 2009, pushing the poverty rate up by 1.3 percentage points to 21 percent, The New York Times reported.

According to the report, more than 1.7 million residents were poor in 2010, with the Hispanic and black New Yorkers, including children, constituting the hardest-hit.

The figure is the highest and reflects the largest year-to-year increase since the city’s adoption of a more detailed definition of poverty in 2005.

The report ascribed the rise in poverty to reduced earnings caused by higher unemployment during the country’s recession. The economic doldrums hit the country in 2007 and started to affect New York a year later.

The center emphasized that the poverty rate would have soared even higher if the government had failed to start expanding its contribution of tax credits, food stamps, and other benefits in 2007.

The number of the New Yorkers receiving food stamps increased to more than one million in 2010 up from 773,000 in 2008.

MN/HN

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