Over the years, poverty has transformed the lot of Quincy, a previously wealthy city in Florida’s Gadsden County. History shows that Quincy was the home of several millionaires, thanks to the Coca-Cola boom of the early 20th century.
According to data from the Census 2022 American Community Survey, 46.7% of Quincy’s population lives below the poverty line.
Quincy Is Now Poverty-Central of the United States
With a population of 7,811 people, the survey found that only 16.5% of Quincy residents have a bachelor’s degree or higher. The average unemployment rate is 3.6%, and the average family income is $33,786.
Meanwhile, this reality of poverty is not peculiar to Quincy alone. There are several other cities and counties in the US where poverty is strangely localized.
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Poverty Is a Close Kin to Depression
Studies have revealed that the impact of poverty extends way beyond its economic realities. For example, financial reverses have been found guilty as one of the factors that influence depression and suicidal thoughts.
In a recent Pulse Survey by the US Census Bureau, researchers found that 38% of Americans with an income below $25,000 find themselves feeling depressed and lacking direction on most days.
Poverty Raging a Battle Against Americans
Over six decades ago, President Lyndon Johnson declared a state of emergency on poverty and instituted policies to eliminate it completely from the United States’ shores. However, poverty still runs rampant in the land.
It is also surprising that the Pulse Survey suggests that 27% of adults living within the fringes of poverty cannot get enough food to eat within the last week of the poll. This statistic is three times the level of food insufficiency among average American adults.
Florida as a Case-Study of Poverty
In addition, the study suggests that between 32 million and 49 million Americans are living below the poverty line at any point in the last 30 years. During this period, the poverty rate in the United States was always above 11.3% and even went as high as 15.9% at some point.
Like Quincy, some counties in Florida have become some sort of penury camp. In Florida and most of the US, the Department of Health and Human Services (DHHS) has stationed the poverty line at an income of $31,200 for a family of four and $15,060 for an individual.
Floridans Don’t Have Access to Job Opportunities
Going by DHHS standards, 12.9% of Floridians live below the poverty line, with towns like Quincy, Cocoa West, Crystal Lake, Arcadia, and South Apopka having phenomenally higher poverty rates.
Researchers have attributed the significant incidence of financial hardship in these areas to the paucity of economic opportunities. For example, the average unemployment rate in Florida is 5%, but it is much higher in some of those high-poverty regions.
Educated Folks Get Better Pay and Side-Step Poverty
In addition, studies have found a correlation between educational attainment and the rate at which individuals’ income and job security increase. So, in areas where a large portion of the population possesses little or no education, employability and employment may nose dive, causing a widespread incidence of penury.
According to the Bureau of Labor Statistics, the average individual with a bachelor’s degree earns about 66% more than some with just a high school diploma.
A Great Economy With Poverty-Stricken Subjects
Bringing up this insurgence of poverty among Americans is important because of the United States’s standing among other global economies. Despite having an economy that accounts for a fourth of all economic activities in the world, it is a cause for concern that one in ten Americans lives below the poverty line.
Meanwhile, financial hardship is often a precursor of declines in life expectancy, social relationships, and mental health.
Where Is the Richest Town in America?
Every other city in the world is behind New York City in terms of affluence. With some 60 billionaires and 350,000 millionaires in that geographical location, New York has been the wealth center of the world for some years.
In the past ten years, the population of millionaires in New York jumped by 48%!
Where Do the Majority of the Poor Live in the United States?
A 2022 study by the Friends Committee on National Legislation suggests that Mississippi, Louisiana, West Virginia, New Mexico, and Arkansas are the top five states with the highest population of poor Americans.
Several other studies categorize regions of America based on their poverty level. The results of these studies often vary because they use different metrics to assess poverty. Some research groups adopt income, education, or even access to social amenities as a measure of poverty.
Where Do Most Rich People Live in the USA?
According to CNBC, New York City and the Bay Area are home to the wealthiest Americans. Most of the wealthy residents of New York have vested interests and businesses in the city’s business districts, so they stay around for easy access to places like Wall Street.
Similarly, the tech boom brought many companies to the Bay Area, causing many brilliant minds to migrate to San Francisco. Some of these people came to Silicon Valley as employees and ended up setting up multi-million dollar companies of their own.
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Which Part of the US Is the Richest?
Sensational news about the rich leaving New York has been making rounds recently. Still, the city still ranks as the wealthiest part of the United States. However, there are projections that San Fransisco would soon overtake New York, thanks to the many unicorn companies popping up in the Bay Area.
Unlike New York, which experienced a 48% increase in its millionaire population in the past decade, the Bay Area’s millionaires have multiplied by 80% during the same period.
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