The rate of children living in poverty this year will climb to nearly 22%, the highest rate in two decades. That's according to new data from the Foundation for Child Development, which has released the first comprehensive report on the impact of the Great Recession on American children.

The 2010 Child and Youth Well-Being Index (CWI) offers data on children's well-being from the first year of the recession (2008), and includes projections for years 2009 through 2012. The foundation tracks 28 key statistics about children, such as health insurance coverage, parents' employment, infant mortality and preschool enrollment.

Chief among the findings is that, by 2010, the recession will wipe out virtually all progress made for children in the Family Economic Well-being Domain since 1975. This domain includes the rate of children living in families beneath the poverty line, median family income, secure parental employment and health insurance coverage.

Almost 22 percent of American youth will be living below the poverty line this year, the highest among America's peer nations.

Although a number of economists speculate that the economy is slowly recovering, the CWI shows that a lag time typically occurs between when a recession first hits and its subsequent impact.

"Research shows that children who slip into poverty, even for a short time, suffer long-term setbacks even when their families regain their economic footing," says Ruby Takanishi, president of the Foundation for Child Development. "This is especially true for children during their first decade of life. This means that, even if the recession subsides soon, the effects on these children will not. Unfortunately, we fear the worst is yet to come."

Other key findings from the report include:

* A decrease in community engagement. The Community Engagement Domain – comprised of indicators measuring the connections that children and youth have to their communities – will be dragged down by a decline in Pre-Kindergarten enrollment.

* An increase in the number of detached youth. The decline in community engagement also means a substantial increase in the rate of youth ages 16-19 who are ‘detached' from key mainstream institutions, because they will not be in school nor have a job. This will be particularly true for African American and Latino young men.

* An increase in risky behaviors. The Safe/Risky Behavior Domain will increase as the detached youth created by the economic downturn will be at higher risk for risky behavior, including violent crime (both as victims and perpetrators) and illegal drug use.

* The Health Domain continues to decline as obesity continues to rise. Though obesity has been on the rise for several years, it is likely to climb even higher as the recession drives parents to rely more on cheap food over healthy food.

The Foundation for Child Development is a national private philanthropy dedicated to the principle that all families should have the social and material resources to raise their children to be healthy, educated, and productive members of their communities.

Click here for the full report on the 2010 Child and Youth Well-Being Index.