Poverty

{
  "id": "MLC-T-ECS-001470",
  "term": "Poverty",
  "field": "Economic statistics",
  "definition": "Following the Office of Management and Budget's (OMB's) Directive 14, the Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who is in poverty. If the total income for a family or unrelated individual falls below the relevant poverty threshold, then the family (and every individual in it) or unrelated individual is considered in poverty.\n\nThere is now a second measure of poverty called the Supplemental Poverty Measure or \"SPM.\" Every year since 2010, the Census Bureau has released a report describing this measure The SPM extends the official poverty measure by taking account of government benefits and necessary expenses like taxes that are not in the official measure. It does not replace the official poverty measure and will not be used to determine eligibility for government programs.\n\n.",
  "see_also": [
    "Income"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/poverty/"
}