Economics
U.S. Suffers Sharpest Rise in Poverty Rate in More Than 50 Years
A man sits under an umbrella outside the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The end of 2020 brought the sharpest rise in the U.S. poverty rate since the 1960s, according to a study released Monday.
Economists Bruce Meyer, from the University of Chicago, and James Sullivan of the University of Notre Dame found that the poverty rate increased by 2.4 percentage points during the latter half of 2020 as the U.S. continued to suffer the economic impacts from Covid-19.