New data shows decline of poverty in 2020 as a result of COVID stimulus funds
Despite the COVID-19 pandemic and ensuing spike in unemployment, poverty in the U.S. declined by roughly 2.6% from 2019 to 2020 as a result of the federal government’s expansion of the social safety net, new data released on September 14 showed. For the first time since 2011, median household income decreased last year, and the official poverty rate rose, from 10.5% in 2019 to 11.4% in 2020. But according to the U.S. Census Bureau’s supplemental poverty measure (SPM), which takes into account additional expenses plus the value of government aid, the poverty rate fell to 9.1% last year, compared...
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