A Decade of Poverty Statistics in Troy

Troy has seen a steep decline in poverty over the past decade, however some demographic groups aren't fairing as well as others.

According to data from the United States Census Bureau, the city’s poverty rate has been cut by nearly one-third. In 2012, nearly 15% of our town’s residents were at or below the poverty level; today that number is just under 10%. And while this is good news to celebrate, a different story emerges when we look at how poverty rates impact different genders and age groups in our community. The two charts below show how povery rates are changing in the community over time.

In 2012, the shadow of the Great Recession still loomed, and the pyramid reveals a broader base of young boys in poverty, particularly in the 'under 5' and '6 to 11' years categories, suggesting a generation of children born into post-recession struggles. Female poverty, on the other hand, was more pronounced in the '25 to 34' and '35 to 44' years age groups, indicating significant economic pressures on women in their prime working years.

Fast forward to 2022, and the shape of the pyramid has transformed in notable ways. The base has narrowed for both genders, with a decrease in poverty among the youngest males, reflecting perhaps improved economic conditions or the outcomes of targeted social policies. One of the policies have been increased child tax credits that even came in the form of checks during the Covid-19 Pandemic. However, the increase in poverty rates among the youngest females in 2022 raises concerns and questions about new challenges that have emerged over the decade that are disproportionately affecting young girls.

As we look across the working-age spectrum, a trend of declining poverty is evident among males, while for females, the rates have risen, particularly in the '18 to 24' and '25 to 34' years brackets. This could be indicative of economic and social barriers that are more acutely impacting women, such as childcare responsibilities, transportation struggles. wage disparities, or employment in sectors that have been more vulnerable to economic shifts.

In the senior age groups, there is an interesting upward trend in poverty among both genders, with a significant increase for women aged '65 to 74'. This could reflect issues such as inadequate retirement savings, the rising cost of healthcare, or the longevity of women leading to longer periods in retirement with fixed incomes.

Looking to the future, we can make a few educated predictions about the trajectory of poverty in Troy by considering several factors: demographic trends, economic policies, technological advancements, and social services. If current interventions continue to be effective, we might expect to see a continued decrease in poverty rates among children and young adults. However, the increase in poverty among senior women suggests that unless there is a significant policy response, this trend may persist or worsen.

Furthermore, the future of poverty in Troy will likely be influenced by broader economic trends such as job automation, which could disrupt employment in traditional industries. This could lead to an increase in poverty unless there is a concerted effort to retrain workers and create new job opportunities in emerging sectors.

On the other hand, if Troy can capitalize on economic development initiatives, such as attracting new industries or promoting entrepreneurship, it could counteract some of these negative forces. Additionally, if social support systems such as education, healthcare, and affordable housing are strengthened, they could buffer vulnerable populations against economic downturns. The increase in senior povery is specifically troubling; it may harbor the need for a specific senior services tax levy to provide additional supports to our oldest residents.

In summary, the future of poverty in Troy, Ohio, is not predestined but will be shaped by the interplay of policy decisions, economic trends, and social supports; hopefully we can continue the trend and find ways to lower our poverty rate community-wide. And as we collectively think about the future, the data from the past decade serves as both a map of where we've been and a compass pointing to where we might go.

Thanks for reading today’s Civic Capacity Newsletter. It is the mission of this publication to better connect you to the decisions being made in the community. Please feel free to share this with your friends and neighbors, if you have found this information helpful. Also, feel free to share your ideas and insights in the comment thread.