Household Income of Americans Fell in 2020 for First Time Since 2011: Census Bureau

The Epoch Times Logo

The household income of Americans fell last year as COVID-19-related lockdowns wrought havoc on the economy, according to new figures from the Census Bureau.

The median household income was $67,521 in 2020, a decrease of 2.9 percent from the 2019 median of $69,560 and the first significant decline since 2011, the Census said in its findings published Sept. 14 (pdf).

Household income includes money from wages or salaries, Social Security, public assistance or welfare payments, interest from savings or bonds, dividend from investments, veterans’ payments, or unemployment and workmen’s compensation, as well as among other sources.

Between 2019 and 2020, the real median earnings of all workers decreased by 1.2 percent from $42,065 to $41,535, while the real median earnings of full-time, year-round workers increased 6.9 percent from their 2019 estimate.

However, the total number of those who worked full-time, year-round, declined by 13.7 million between 2019 and 2020, signifying the largest year-to-year decline in the number of full-time, year-round workers since 1967.

The total number of people with earnings decreased by about 3 million.

Meanwhile, the official poverty rate rose from a 60-year low, to 11.4 percent from 10.5 percent in 2019, the first increase in poverty after five consecutive annual declines.

While the thresholds for meeting the official definition of poverty vary in size and composition, the weighted average poverty threshold for a family of four in 2020 was $26,496.

There were 37.2 million people in poverty last year, 3.3 million more than in 2019, signalling the massive economic strains the lockdowns placed on tens of millions of people who were left without work, particularly in marginalized communities.

However, government programs designed to help assist low-income families, such as stimulus checks and $600 weekly unemployment benefits, appear to have somewhat softened the blow.

The Supplemental Poverty Measure (SPM), which includes many government assistance programs such as the Supplemental Nutrition Assistance Program (SNAP), school lunches, housing assistance, stimulus payments, and refundable tax credits, declined by 2.6 percent to a rate of 9.1 percent, the lowest level since it began being measured in 2009.

By Katabella Roberts

Read Full Article on TheEpochTimes.com

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

Columns

Can Ramaphosa and Trump Come to Terms?

Whether South Africa can quell the hostility emanating from Washington, without compromising on its national priorities, is a formidable test for a country

Maddened Europe

Viable prospects for peaceful settlement of conflict between Moscow and Kyiv exist, but Europe obsesses over threat of incursion onto European territory.

BOMBSHELL: DOGE Proves Democrats Guilty of Election Fraud!

As the old expression goes, “That didn’t take long!” Over...

Tariffs Will Make America Rich Again

The US won World War II because we could outproduce our enemies, Peter Navarro explained, and the American “arsenal of democracy” permitted the Allies to triumph.

America’s sport export

The popularity of baseball in Japan and Korea contrasts to a shrinking American audience where the average age of your MLB fan is a 57-year-old Caucasian man. 

News

FTC Chairman Raises Concerns Over Sale of 23andMe DNA Data

FTC said it was worried about the safety of the personal data of Americans who were previously customers of genetic testing company 23andMe.

Judge Dismisses COVID Lawsuit Against Former New York Gov. Cuomo

Judge dismissed class-action lawsuit against former Gov. Andrew Cuomo that blamed his admin for COVID-19 deaths in nursing homes across NY.

Tesla Firebombing Suspect Hit With Federal Charges

The U.S. Dept of Justice has filed federal charges against a suspect in connection with a firebombing attack on a Tesla dealership in Loveland, Colorado.

What to Expect From Trump’s Global Tariffs

Trump has dubbed April 2 “Liberation Day,” when he will unveil reciprocal tariffs to level the trading field between the United States and its 200 partners.

Voters Head to Polls in 3 Key Elections in Florida, Wisconsin: What to Watch For

On April 1, voters head to the polls for three races in Florida and Wisconsin, with substantial implications for the future beyond the current contests.

DNC, Schumer Sue Trump Over Order Targeting Illegal Immigrant Voting

DNC and two top U.S. lawmakers sued President Trump over a recent EO that aims to enforce the law against illegal immigrant voting and election dates.

Court Halts Trump Admin’s Move to Revoke Protected Status of Venezuelans

Federal judge in CA put a pause on the Trump admin’s plan to terminate TPS of 350,000 Venezuelan immigrants, whose legal status was set to expire on April 7.
spot_img

Related Articles

Popular Categories

MAGA Business Central