IE Business Daily Business news for the Inland Empire.
The Inland economy showed signs of recovery last year, but also signs that the region is still feeling fallout from the recession, according to data released Wednesday by the U.S. Census Bureau.
Incomes were up and the two-county region’s poverty rate fell during 2013, but not all of the news was good: the median household income last year was – $53,220, $7,000 below the statewide median and $11,000 lower than it was in 2007, when adjusted for inflation.
The Inland Empire’s 18.2 percent poverty rate was down one percentage point compared with 2012, but it remained the highest of the 25 largest metropolitan areas in the United States. It was also 50 percent higher than it was in 2007, when the recession started, according to the data.
The federal government defines poverty as a family of four with an annual income of $23,840.
