The percentage of Americans living in poverty rose from a record low last year, with 3.3 million additional people being impoverished as Covid-19 restrictions wiped out more than a decade’s worth of economic gains.
An estimated 11.4% of Americans, or around 37.2 million people, lived below the poverty line in 2020, up from 10.5% the previous year, the US Census Bureau said on Tuesday. Median household income dropped 2.9% to $67,521 a year, marking the first statistically significant decline since 2011.
US poverty had been trending downward for five straight years, including the first three years of President Donald Trump’s administration, and reached the lowest level in six decades of record-keeping in 2019. But those gains fell by the wayside as states shut down businesses in an attempt to slow the spread of Covid-19….