The life of a single income family is not easy. With only one income to support the entire household, it can be difficult to make ends meet. But how common is the single income family?
What are the statistics? In this blog post, we will explore the statistics of single income families in the United States and discuss the challenges they face. We will also look at how single income families are faring in comparison to other family types.
Single Income Family: The Most Important Statistics
In 2019, 58.2% of families with one parent in the labor force had at least one child under 6 years old, while 29.5% of employed single parent families were headed by a single father and 28.8% had an income below the poverty level.
The median income for families with one employed parent in 2019 was $38,259, while families with two employed parents had a median income of $89,214.
Single Income Family Statistics Overview
The percentage of single-person households in the US has nearly doubled since 1960, from 13% to 29%.
There is an increasing number of people living alone, which can have an impact on the economy and the availability of resources.
The percentage of single-income families has increased from 29% to 34% since the start of the pandemic, which shows the financial strain that many households are facing, as well as the potential for long-term economic instability.
In 2019, 61.9% of families with children had two parents in the labor force, and 23.1% had only one parent in the labor force.
Among the one-parent families, 84.4% were headed by a female and 15.6% were headed by a male.
In 2019, 58.2% of families with one parent in the labor force had at least one child under 6 years old, while 29.5% of employed single parent families were headed by a single father and 28.8% had an income below the poverty level.
This highlights the gender disparity in single parent households, with a much higher percentage of single mothers than single fathers. This data can be used to inform policy decisions that support single parent households and help reduce poverty.
The states with the highest percentages of families with one employed parent in 2019 were Mississippi, Louisiana, and New Mexico, while the states with the lowest percentages were North Dakota, Nebraska, and Minnesota.
The three metropolitan areas with the highest percentages of families with one employed parent are all located in Texas, while the three metropolitan areas with the lowest percentages of families with one employed parent are all located in the Midwest.
Thus, there is a prevalence of single-income families is higher in Texas than in the Midwest, which could have implications for the economic stability of single-income families in these areas.
Pew Research Center found that adults in multi-earner households are more likely to be in the upper-income tier than adults in single-earner households.
Single-earner households are therefore more likely to be in the lower-income tier, and have been sliding down the income ladder the most from 1971 to 2021. This indicates that single-income families are at a greater risk of poverty and financial insecurity.
The median income for families with one employed parent in 2019 was $38,259, while families with two employed parents had a median income of $89,214.
Families headed by a male had the highest median income ($51,703) and those headed by a female had the lowest ($29,890).
28.8% of families with one employed parent had an income below the poverty level, compared to 6.7% of families with two employed parents.
This highlights the disparities in income between single-parent and dual-parent families, as well as the gender pay gap. It also foregrounds the financial struggles faced by single-parent families, as a much higher percentage of them are living in poverty compared to dual-parent families.
In 2019, 55.4% of single parents who were employed worked full-time and 44.6% worked part-time.
The employment rate of single parents with a high school diploma is 45.4%, while the employment rate of those with a bachelor’s degree or higher is 82.6%.
The poverty rate of single mothers with a high school diploma or less and with children under 6 years old is 54.5%, compared to 29.6% of single mothers with a bachelor’s degree or higher and with children under 6 years old.
This brings out the importance of higher education in terms of employment and poverty rates. Those with a higher level of education are more likely to be employed and less likely to live in poverty.
Conclusion
In conclusion, single income families face unique financial challenges that other families may not face. However, with careful budgeting and financial planning, single income families can still achieve financial security.
With the right resources and support, single income families can make the most of their income and provide for their families.
References
1 – https://www.census.gov/newsroom/press-releases/2022/americas-families-and-living-arrangements.html#:~:text=Households%3A,declined%20from%202002%20to%202022.
2 – https://www.thetitlereport.com/Articles/Singleincome-households-on-the-rise-83777.aspx
3 – https://www.census.gov/data/tables/2019/demo/families/cps-2019.html
4 – https://www.pewresearch.org/fact-tank/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/
