Poverty rate rises from 60-year low as incomes fall amid pandemic
Poverty rate rises from 60-year low as incomes fall amid pandemic
By Jill R. Shah and Alex Tanzi | Bloomberg
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…