The poverty rate in the United States rose to 11.4 percent in 2020 after reaching a 60-year low in 2019.
By Jill R. Shah and Alex TanziBloomberg
14 Sep 2021
U.S. household income fell in 2020 while the national poverty rate rose from a 60-year low as the Covid-19 pandemic upended the U.S. economy and threw millions out of work.
Median, inflation-adjusted household income decreased 2.9% last year to $67,521 according to annual data released Tuesday by the U.S. Census Bureau.
The poverty rate rose one percentage point to 11.4% after having dropped for five straight years and reaching the lowest since 1959 in 2019.
The data help flesh out the picture of American families’ economic health in 2020 amid a pandemic that caused the first annual economic contraction