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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

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Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
FinanceDetroit

This is the poorest big city in the U.S.

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September 17, 2015, 6:10 PM ET
Detroit Area Economy Worsens As Big Three Automakers Face Dire Crisis
DETROIT - NOVEMBER 21: The General Motors (GM) world headquarters building stands tallest amidst the Renaissance Center in the skyline of city's downtown on November 21, 2008 in Detroit, Michigan. As car and truck sales have plummeted across the country, large inventories are building at dealerships and factories. The Big Three U.S. automakers, General Motors (GM), Ford Motor Co. and Chrysler LLC, failed after appearing this week in Washington to receive money after asking the government for federal funds to curb the decline of the American auto industry. The city of Detroit, home to the Big Three, would be hardest hit if the government allows these auto makers to fall into bankruptcy. (Photo by Spencer Platt/Getty Images)Spencer Platt—Getty Images
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By Josh Sanburn/TIME

Almost 4 in 10 people in Detroit live in poverty, according to numbers released by the U.S. Census Bureau Wednesday, making it the most impoverished big city in the U.S.

According to the Census, 39.3% of people in Detroit live below the poverty line (defined as $24,250 for a family of four). The city, which has struggled for decades following the loss of manufacturing and auto jobs, is the poorest in America with more than 300,000 people, followed by Cleveland (39.2%), Fresno, Calif., (30.5%), Memphis (29.8%), and Milwaukee (29%). But the city’s rate has actually decreased from 2012, when it was 42.3%.

The poverty rate at a national level, however, declined slightly in 2014. Nationally, 15.5% of Americans live in poverty, down from 15.8% in 2013. Mississippi is the most impoverished state with 21.5% of residents living below the poverty line, followed by New Mexico (21.3%), Louisiana (19.8%), Alabama (19.3%) and Kentucky (19.1%).

And while Detroit is struggling, it’s not the worst-off city in the U.S. If you compare cities with 65,000 or more people, the big loser is Youngstown, Ohio which, with its 40.7% rate of poverty, has never recovered from the loss of the steel industry decades ago.

This article was originally published on Time.com.

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