U.S. Poverty Rate Down Significantly

Five years into a national economic recovery, the share of Americans living in poverty finally dropped.The nation's poverty rate was 12.3 percent in 2006, down from 12.9 percent a year before, the Census Bureau reported Tuesday. Median household income increased slightly, to $52,200.The numbers provided some good economic news at a time when financial markets have been rattled by a slumping housing market. But they were tempered by an increase in the number of Americans without health insurance, from 44.8 million in 2005 to 47 million last year.The poverty level is the official measure used to decide eligibility for federal health, housing, nutrition and child care benefits. It differs by family size and makeup. For a family of four with two children, for example, the poverty level is $20,444.The poverty rate -- the percentage of people living below poverty -- helps shape the debate on the health of the nation's economy.The share of Americans without health insurance hit 15.8 percent last year, the highest percentage since 1998. In 2005, 15.3 percent were without insurance.The Census Bureau on Tuesday released 2006 income and poverty figures for all the states and every city and county with a population of 65,000 or more.