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Stimulus checks and unemployment benefits lowered poverty in 2020, Census says

Stimulus checks and unemployment benefits lowered poverty in 2020, Census reports. - @CNBC

4 hours ago

Stimulus checks and unemployment benefits lowered poverty in 2020, Census reports. - CNBC

The supplemental poverty measure, which includes government assistance to low-income individuals, declined to 9.1% in 2020 from 11.8% in 2019.

Share Article via EmailPeople wait in line at a food distribution site in the South Bronx on March 10, 2021 in New York.Spencer Platt | Getty Images News | Getty ImagesPoverty declined in 2020 by one measure following large amounts of federal aid enacted due to the coronavirus pandemic, including stimulus checks and enhanced unemployment benefits.

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The so-called supplemental poverty rate, which adds in government assistance to low-income individuals, declined to 9.1% in 2020 from 11.8% in the previous year, according to aTuesday report from the U.S. Census Bureau.It's the lowest since this particular statistic was first published in 2009. The poverty threshold for a family of four in 2020 was income below $26,496.

To be sure, the official poverty rate, which does not include any government aid, increased slightly to 11.4% in 2020 from a record low of 10.5% in 2019,according to the CensusBureau.Still, the fall in the supplemental rate means that government aid put in place during the coronavirus pandemic and ensuing economic recession – the worst since the Great Depression – lifted millions of Americans out of poverty last year.

Read more: NBC News »

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CNBC Oh, the magic of government numbers and MSN CNBC But now they’re going to raise it 2x with inflation. Good going guys👍🏻 CNBC For now. Wait till the end of this year when nobody is working and people are homeless. We will be wishing for 2020 again...

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Poverty rose to 11.4% in 2020 amid pandemicSome 11.4% of Americans were in poverty last year, as the coronavirus pandemic raged across the nation, according to Census Bureau data released Tuesday. That compares to 10.5% in 2019, the lowest since records started in 1959. Thanks Joe. This doesn't matter because more people became billionaires and billionaires got more billions. That’s all that matters. Lockdowns worked!

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