Posted on 09/15/2020 1:11:09 PM PDT by yesthatjallen
The official U.S. poverty rate fell in 2019 for the fifth consecutive year, according to a report from the Census Bureau and Bureau of Labor Statistics (BLS) released Tuesday.
The U.S. poverty rate fell to 10.5 percent last year, according to the 2020 Current Population Survey Annual Social and Economic Supplement, dropping 1.3 percentage points from 2018’s poverty rate of 11.8 percent. The 2019 poverty rate is the lowest recorded since government estimates began in 1959.
The number of Americans in poverty also fell by 4.2 million in 2019 to a total of 34 million, according to the survey, and median household income rose by 6.8 percent from 2018 to $68,703 in 2019. The number of Americans working full time in 2019 increased by 1.2 million.
The report is the latest window into the record-breaking economic expansion that preceded the coronavirus pandemic and subsequent recession. The U.S. gained roughly 22 million jobs in more than a decade of recovery from the 2008 recession and saw the unemployment rate drop to a 50-year low of 3.5 percent in December 2019.
SNIP
(Excerpt) Read more at thehill.com ...
And who was President during this fifth straight annual decline in poverty?
Imagine what the economy would be like right now had it not been for Covid.
It's obvious why Democrats used Covid to crash the economy before the election.
That just means you’re not adjusting the poverty line properly.
It’s not hard to know what a lefty will think.
Income levels have nothing to do with your arbitrary delineations. Taking other people’s wealth is about social perceptions of power.
TRUMP-ECONOMY BUMP
The five year decline includes Obama’s last 2 years in office, so the Dems could use this stat to argue Trump just inherited Obama’s strong economy.
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