RICHMOND, Va., Oct. 24 /PRNewswire-USNewswire/ -- Two communities, one
in North Carolina and one in West Virginia, were among those studied for
the Federal Reserve's report on concentrated poverty. Recently released,
The Enduring Challenge of Concentrated Poverty: Case Studies from
Communities Across the U.S., looks at the factors that give rise to
high-poverty neighborhoods and the challenges they face. The report was the
result of a joint project between the Community Affairs functions of the
Federal Reserve System and the Brookings Metropolitan Policy program.
In the Federal Reserve Bank of Richmond's Fifth District, West
Greenville, N.C. and McDowell County, W.Va. were among those studied due to
extreme poverty levels that have transcended decades. The data for both
communities, provided by state agencies and the U.S. Census Bureau (2000
Census), is striking.
In West Greenville:
-- The neighborhood poverty rate was more than 40 percent, twice as high as
the poverty rate for the Greenville MSA.
-- One in five households was headed by a single parent.
-- Nearly 60 percent of children lived in poor households.
In McDowell County, an Appalachian region that ranks as one of the
poorest small communities in the country:
-- The poverty rate was 38 percent.
-- One in every three residents aged 18 to 64 does not have health
insurance - the lowest rate of coverage in West Virginia.
-- Of the county's working-age population, 40 percent claimed a
disability of some kind.
The report is important because it enhances the Federal Reserve's
understanding of high poverty communities and their needs, and identifies
issues for future research. Locally, the Richmond Reserve Bank plans to
explore community development partnerships in McDowell County and West
Greenville to address the report's observations.
The full report and the two case studies are available at
http://richmondfed.org
The Federal Reserve Bank of Richmond is one of 12 District Reserve
Banks that together with the Board of Governors in Washington, D.C., make
up the Federal Reserve System. The Richmond Fed serves the Fifth Federal
Reserve District, which encompasses the District of Columbia, Maryland,
North Carolina, South Carolina, Virginia, and most of West Virginia.
SOURCE Federal Reserve Bank of Richmond
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Related links:
http://www.richmondfed.org
CONTACT:
Laura Fortunato, Media Relations of Federal
Reserve Bank of Richmond, +1-804-697-8196
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