The official poverty rate rose to 11.4% in 2020.
Coronavirus relief payments are not only helping to stimulate the economy, they’re pulling people out of poverty. Stimulus checks pulled almost 12 million people out of poverty last year. Thanks to pandemic unemployment benefits, 5.5 million people were prevented from falling into poverty.
People of all ages, races, ethnic and educational backgrounds saw a drop in poverty last year thanks to federal aid.
However, Black people had the smallest decrease as nearly 20% of the Black community remains in poverty. They have the highest poverty rate of any racial group.
All this and more on “Prime.”
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