Report finds decline in household income, rise in poverty rate | Monday Morning Coffee
Good Monday Morning, Fellow Seekers.
Welcome to the last Monday of Summer!
Data from the U.S. Census Bureau released last week is shedding new light on economic and social changes in American households.
According to the 2021 Current Population Survey Annual Social and Economic Supplement, the median household income decreased 2.9 percent from 2019 to 2020.
The median household income was $67,521 in 2020, according to the Bureau, down from the 2019 median of $69,560.
The decrease, the Bureau said, is the first statistically significant decline in median household income since 2011.
“Pennsylvanians are not out of the dark yet. Families here continue to face difficult choices about how to put food on the table, pay rent, and hold down jobs given the risks and complexities created by the delta variant,” Marc Stier, Director of the Pennsylvania Budget and Policy Center said. “Our federal and state policymakers cannot turn a blind eye to this continued hardship, especially in Black, Latino, Indigenous, and immigrant communities.”
(U.S. Census Bureau graphic).
The decline in income wasn’t the only noteworthy finding.
The official poverty rate increased by a percentage point over the year from 33.9 million in 2019 to 37.2 million in 2020.
According to the Bureau, the increase is the first following five years of decline.
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(Image via Instagram).
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Originally published at www.penncapital-star.com,by Cassie Miller