In Chicago, over 1.2 million people struggle with severe financial situations, this according to the most recent Social IMPACT Poverty Report. Over 45 percent of the entire population falls below 200 percent of the poverty rate, which for a single mother is $31,650 per year. Research regarding true cost of living in Chicago suggests this is over $20,000 less than what a single parent actually needs to provide healthy living conditions for a child.
This stark reality overshadows the recent improvements in unemployment rate in Chicago and Illinois. The recession may be in the past, but there is still a great deal of work to be done in addressing economic despair and inequity in this region.
As always, the WIRE is your source for the most recent poverty and unemployment rates at the neighborhood, city, and state level, as well as more information about socioeconomic well-being in Chicago.