Among the richest nations of the world, the United States has one of the worst child poverty rates. A 2014 UNICEF report ranks us 36th among the 41 countries studied. Some reports say as many as 44% of our nations children currently live in low-income or poverty situations.
Poverty in this context refers to living at or below the Federal Poverty Threshold (FPT), or $23,850 for a family of four. Low Income is defined as at or below 200% FPT — research has consistently shown that families in the US need about twice the FPT to meet their most basic needs. This Low-Income threshold is currently estimated at $47,700 for a family of four. See this link for more details.
To make the numbers a little less abstract, consider the following. The current federal minimum wage is $7.25 per hour. At that rate, a person working a full-time (forty hour per week) job will make $15,080. A two-parent household, if both parents work full-time at the federal minimum wage, will bring in $30,160.
In fact, at the current federal minimum wage a family of four would need to work approximately 136.5 hours per week, or 3.16 full-time jobs, just to reach the low-income threshold. And that doesn’t take into account the cost of child-care while Mom and Dad are working all those hours.
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