The toll of the Great Recession was reported today by the US Census Bureau with the release of the 2008 American Community Survey. Median household income declined across the nation, the value of homes fell, home ownership declined, fewer of us changed residence and more of our income went for housing cost.,fewer American married and more carpooled to work.
For the first time the Census Bureau reported on the number of Americans who had health insurance. These data provide a portrait of all communities in America for the year 2008. Since these data are collected on a nationwide sample over the course of the year,it only provides a snapshot of the impact of the Great Recession which gathered full steam in the later half of 2008.
Median household income (half of Americans earn less and half more) declined nationwide with only five states - New York, New Jersey, Kansas, Louisiana and Texas experiencing a rise in median income. New York and New Jersey probably report a decline in median household income in 2009 after the collapse of Wall Street in late 2008. Five states- Arizona, California, Florida, Indiana and Michigan experienced a decline in median household income.
After almost a decade of steady increase in home value, the median home value across the country decreased slightly (-.2 percent)and in 22 states across the country. These decline in home values will probably accelerate in 2009. Seven states experienced an increase in home value between 2007 and 2008. Those states were Texas, Utah, Wyoming, Oregon, Pennsylvania, Tennessee and North Carolina. The Bureau reported that mortgages had increased across the country. The combination of a drop in income and increase in mortgages means that a larger portion of American's income is being spent on housing. Almost 30% of home owners and 40% of renters are paying more than 35% of their income for housing.
Traditionally Americans have changed residents frequently. The number of Americans who moved declined sharply last year, reaching the lowest percentage in 60 years as people grappled with fewer jobs and tighter credit. Roughly 11.9 percent of the nation's population, or 35.2 million people, moved to a new home, down from 13.2 percent, or 38.7 million people in 2007. This is a far cry from the more than 20% who moved in the period 1985-1990.
For the first time the percentage of foreign born in the United States took a small decline from 12.6 to 12.5 percent of the population. However, this may have occurred because of refusal of many to participate in government surveys. There was a 2.8% decline in reported immigrants from Mexico but an 8% increase in immigrants from India. However, there were more than 11 million people born in Mexico living in the US but only 1.6 million from India.
The percentage of people who drove alone to work dropped last year to 75.5 percent, the lowest in a decade, as commuters grew weary of paying close to $4 a gallon for gasoline and opted to carpool or take public transportation.
Twenty-two states had declines in solo drivers compared with the year before, with the rest statistically unchanged. The decreases were particularly evident in states with higher traffic congestion, such as Maryland, Texas and Washington.
The life style of Americans is changing because of the recession and these changes are reported by the American Community Survey. Preliminary data was released by the US Census Bureau and the full reports will be available on Sept 22. These data will provide a portrait of all communities in America for the year 2008. Since these data are collected on a nationwide sample over the course of the year,it will only provide a snapshot of the impact of the Great Recession. Data will be available in October for geographic areas with a population greater than 20,000. These data released today was at the national and state level. the ACS began collecting data in 2004.
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