Less Asian Americans Live In Poverty

While it may seem contradictory to the news that more Asian Americans are declaring bankruptcy and had an increase in unemployment rates, it turns out less Asian Americans are at or below the poverty level. Some of the reasoning behind why the U.S. Census bureau’s numbers show Asian American poverty rates dropping to 12.1% in 2010 from 12.5% in 2009, may have to do with higher income levels in Asian American families, some of which can be attributed to the creation of more extended families in the Asian American community. Whatever the reason for the discrepancy, as the International Business Times says, “some Asian Americans are becoming wealthier and more politically powerful, while many (perhaps most) of their peers are concurrently also becoming poorer with decreasing political clout.”