US Poverty Rate Hit Record Low In 2019, Says Census Bureau

US Poverty Rate Hit Record Low In 2019, Says Census Bureau


Poverty levels in the United States hit a record low in 2019, the U.S. Census Bureau announced Tuesday.

The 2019 poverty rate was 10.5%, the lowest ever recorded since the national poverty rate was first published in 1959. The poverty rate decreased by 1.3% from 2018, marking the fifth straight year of decline, according to the U.S. Census Bureau.

Between 2018 and 2019, 4.2 million people were lifted out of poverty. (RELATED: Report: Trump To Announce 2nd Task Force Focused On Economic Recovery)

Trending: Chris Wallace Gets Backlash from Fox News Colleagues over Debate Moderator Performance

Median household income increased by 6.8% from 2018 and was up to $68,703 last year, data showed. Black, white, Asian and Hispanic households all saw an increase in median household income.

Poverty levels also declined for all races between 2018 and 2019, with minority groups seeing the largest decreases in poverty. The poverty rate decreased by 2% for black Americans, 2.8% for Asian Americans, 1.8% for Hispanic Americans, and 1% for white Americans.

The report of record economic gains comes after the coronavirus pandemic stifled the economy and increased the unemployment rate to nearly 15%. The president has repeatedly touted the economic gains made under his administration before the pandemic.

BEST

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!