US Poverty - 10 cities with the biggest increases in suburban poverty.

The number of poor people in U.S. suburbs rose by 63.6% between 2000 and 2011, from 10 million to well over 16 million people. For the first time, there are now more people living in poverty in the suburbs than in cities. In some metro areas, the number of poor people living outside the city proper has jumped even more rapidly. In the Atlanta, Ga., suburbs there are roughly 480,000 more people living below the poverty line than there were in 2000, an extraordinary 158% increase in the number of the suburban poor. Based on data collected by the Brookings Institution as part of a comprehensive study on suburban poverty, 24/7 Wall St. reviewed the 10 cities with the biggest increases in suburban poverty between 2000 and 2011. 

Cities Where Suburban Poverty Is Skyrocketing

Posted: May 28, 2013 at 6:47 am 

The number of poor people in U.S. suburbs rose by 63.6% between 2000 and 2011, from 10 million to well over 16 million people. For the first time, there are now more people living in poverty in the suburbs than in cities.

 10. Detroit-Warren-Livonia, Mich.

> Pct. growth, suburban poor population: 114.7%
> Suburban poverty rate: 13.3% (35th highest)
> Suburban share of metro poor population: 59.4% (41st highest)
> 10-yr. population change: -3.5% (3rd lowest)

 9. Minneapolis-St. Paul-Bloomington, Minn.-Wis.

> Pct. growth, suburban poor population: 127.9%
> Suburban poverty rate: 7.8% (8th lowest)
> Suburban share of metro poor population: 56.8% (44th highest)
> 10-yr. population change: 10.5% (91st lowest)

8. Provo-Orem, Utah
> Pct. growth, suburban poor population: 128.6%
> Suburban poverty rate: 9.4% (20th lowest)
> Suburban share of metro poor population: 53.1% (43rd lowest)
> 10 yr. population change: 39.8% (4th highest)

7. Boise City-Nampa, Idaho
> Pct. growth, suburban poor population: 129.7%
> Suburban poverty rate: 15.3% (16th highest)
> Suburban share of metro poor population: 62.8% (34th highest)
> 10-yr. population change: 32.6% (11th highest)
 

6. Phoenix-Mesa-Glendale, Ariz.
> Pct. growth, suburban poor population: 134.2%
> Suburban poverty rate: 13.3% (34th highest)
> Suburban share of metro poor population: 37.9% (18th lowest)
> 10-yr. population change: 28.9% (18th highest)

5. Denver-Aurora-Broomfield, Colo.
> Pct. growth, suburban poor population: 138.2%
> Suburban poverty rate: 10.0% (26th lowest)
> Suburban share of metro poor population: 49.8% (35th lowest)
> 10-yr. population change: 16.7% (53rd highest)
 

4. Las Vegas-Paradise, Nev.
> Pct. growth, suburban poor population: 139.3%
> Suburban poverty rate: 15.8% (13th highest)
> Suburban share of metro poor population: 65.5% (31st highest)
> 10-yr. population change: 41.8% (the highest)

Between 2000 and 2010, the Las Vegas area’s population rose by 41.8%. This made the area for the nation’s fastest growing metro area of the past decade. The increases in the area’s population also have contributed to a jump in the number of people living in poverty in the Las Vegas suburbs. Between 2000 and 2011, the number of suburban residents living below the poverty line jumped by nearly 140%. However, not all of this may be due to population growth. During the recession, the area’s unemployment rate skyrocketed and was among the worst in the nation in 2011 — at 13.5% of all workers. This was largely due to the collapse in the area’s home prices, which as of the first quarter of 2013 were still worth about half what they were five years earlier. This was the largest decline in the nation over that time, according to the FHFA.

3. Salt Lake City, Utah
> Pct. growth, suburban poor population: 141.7%
> Suburban poverty rate: 12.2% (43rd highest)
> Suburban share of metro poor population: 73.1% (17th highest)
> 10-yr. population change: 16.0% (58th highest)

More than 157,000 people in the Salt Lake City metropolitan area lived below the poverty line as of 2011. Of these, more than 115,000 people, or more than 73%, lived in the suburbs. The number of poor in the suburbs has increased by more than 140% from the year 2000. In addition to this increase in suburban poverty, the number of city residents living below the poverty line rose 55% from 2000 to 2011 — well in excess of the 28.7% increase in cities nationwide. Between 2000 and 2010, the area’s population rose from less than 970,000 people to more than 1.1 million, an increase of 16%. However, the population of the Salt Lake City suburbs likely accounted for most of this increase, rising 19.1% in that time, while the city’s population rose 3%.

2. Austin-Round Rock-San Marcos, Tex.
> Pct. growth, suburban poor population: 142.5%
> Suburban poverty rate: 10.9% (35th lowest)
> Suburban share of metro poor population: 38.9% (19th lowest)
> 10-yr. population change: 37.3% (6th highest)

More than 100,000 Austin area residents lived below the poverty line as of 2011. As with many cities where the number of suburban poor is exploding, the Austin area’s population has grown rapidly in recent years. Between 2000 and 2010, the number of Austin residents rose by 37%, from roughly 1,250,000 to over 1,716,000. This was among the country’s most rapid expansions. The area’s strong economy has lured in many new residents in recent years, likely contributing substantially to the rising population — and the rising number of impoverished residents — in the Austin suburbs. According to the Milken Institute, the area has had some of the nation’s strongest job growth, wage growth and high-tech output growth in recent years.

1. Atlanta-Sandy Springs-Marietta, Ga.
> Pct. growth, suburban poor population: 158.9%
> Suburban poverty rate: 16.0% (12th highest)
> Suburban share of metro poor population: 88% (the highest)
> 10-yr. population change: 24.0% (26th highest)

More than 780,000 people lived below the poverty line in the Atlanta suburbs in 2011 — a nearly 159% increase from the year 2000. The Atlanta area has been one of the fastest-growing in the nation, with the metro population rising 24% between 2000 and 2010. This was concentrated almost entirely in the suburbs, where the population grew by 26%, versus just 0.2% for the city itself. At the end of 2011, 88% of all the area’s residents living below the poverty lived in the suburbs — the largest proportion of any large metro area in the nation. According to the Brookings Institution’s Kneebone, “as people came to the region, the region continued to grow, and then the housing market collapsed.” As a result many people now living in the suburbs were hit particularly hard by the housing crisis. As of the first quarter of 2013, home prices in Atlanta were down by more than 23% from five years before.

Read more: Cities Where Suburban Poverty Is Skyrocketing - 24/7 Wall St. http://247wallst.com/2013/05/28/cities-where-suburban-poverty-is-skyrocketing/#ixzz2UbUnOijZ 

$100,000 to drop out of College.

Finalists for the 2013 Thiel Fellowship stand together. Twenty of these students were selected to be fellows, the foundation announced on May 9, 2013. 

 

Thiel Foundation Gives 20 More Students Money To Drop Out Of College

Peter Thiel has lured yet another group of young kids out of college into the startup world.
On Thursday the billionaire venture capitalist's Thiel Foundation announced its third class of fellows.

These 20 college students will receive $100,000 each to start a business. As part of the program, the students cannot work or be enrolled in school, but instead will receive mentoring with other young entrepreneurs, scientists and experts to help them develop their ideas over a two-year period.

This year's group of fellows includes a former fashion blogger, several video game designers, a Harvard dropout and a researcher in virology. Fellows also come from a number of countries around the world, including the United States, China, Germany, India and Canada.

Facebook's first investor and the co-founder and former CEO at PayPal, Thiel has been criticized for taking students out of school with the promise of startup riches. But students are already forgoing college to launch companies: Earlier this year, Stanford's computer science program saw an unprecedented number of students leave to build a stealth startup called Clinkle.

Thiel has countered that a college education doesn't mean success either. “You increasingly have people who are graduating from college, not being able to get good jobs, moving back home with their parents,” Thiel told the New York Times in an interview last year. “I think there’s a surprising openness to the idea that something’s gone badly wrong and needs to be fixed.”
While the Thiel Fellowship has launched some success stories since it was launched -- fellows have created 30 companies, and raised more than $34 million from outside investors -- not all attendees have made it, at least financially.

Last year, Inc. Magazine reported that only one in five of the fellows earned an income during program while several have bounced around from project to project.