Tuesday, September 21, 2021

U.S. median income dropped in 2020 and poverty rose, Census data shows

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(Reuters) – The median U.S. household income decreased in 2020 and the poverty rate rose, according to a government survey released on Tuesday that helps to quantify how much Americans’ finances were affected after the coronavirus pandemic severely disrupted the U.S. economy

The U.S. Census Bureau said real median household income decreased to $67,500 in 2020, down 2.9% from 2019. The report also showed that the nation’s poverty rate rose to 11.4% from 10.5% in 2019, the first increase after five years of declines.

(Reporting by Jonnelle Marte and Lindsay Dunsmuir; Editing by Andrea Ricci)

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