Poverty Income For A Single Woman
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Over 25 million Americans aged 60+ are economically insecure—living at or below 250% of the federal poverty level (FPL) ($29,425 per year for a single person). These older adults struggle with rising housing and health care bills, inadequate nutrition, lack of access to transportation, diminished savings, and job loss.
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Federal Poverty Income Level
The poverty threshold for a single person in 2016: $11,880 in annual income. Households led by single women with children had a poverty rate of 35.6 percent, more than twice the 17.3 percent rate for households led by single men with children, according to the National Women’s Law Center. The Facts about Women and Poverty in Canada. At the Canadian Women’s Foundation, we want every woman living on a low income to have the chance to move herself and her children out of poverty.
For older adults who are above the poverty level, one major adverse life event can change today’s realities into tomorrow’s troubles. Poverty Measures • 21% of married Social Security recipients and 43% of single recipients aged 65+ depend on Social Security for 90% or more of their income. (Social Security Administration [SSA], 2016) • More accurate measures of economic well-being—including the and the Institute on Assets and Social Policy’s Senior Financial Stability Index—show millions of older adults struggling to meet their monthly expenses, even though they’re not considered “poor” because they live above the FPL. Income & Employment • The 2.1 million older adults on Supplemental Security Income (SSI) receive, on average, just just $435 each month. (SSA, 2016) • On average, older women received about $4,500 less annually in Social Security benefits in 2014 than older men due to lower lifetime earnings, time taken off for caregiving, occupational segregation into lower wage work, and other issues.
Older women of color fare even worse. Barbados fertility clinic. (SSA, 2015) • Nearly half a million older adults aged 55-64, and 168,000 aged 65+ who wanted to work were unemployed 27 weeks or longer in 2014. (Bureau of Labor Statistics [BLS], 2015) • Older workers of color are most at risk for unemployment, with older African American men twice as likely to be unemployed as older white men.
