Nearly 8 million Americans have fallen into poverty since the summer
The U.S. poverty rate has surged over the past five months, with 7.8 million Americans falling into poverty, the latest indication of how deeply many are struggling after government aid dwindled. The poverty rate jumped to 11.7 percent in November, up 2.4 percentage points since June, according to new data released Wednesday by researchers at the University of Chicago and the University of Notre Dame.
The U.S. poverty rate has surged over the past five months, with 7.8 million Americans falling into poverty, the latest indication of how deeply many are struggling after government aid dwindled. The poverty rate jumped to 11.7 percent in November, up 2.4 percentage points since June, according to new data released Wednesday by researchers at the University of Chicago and the University of Notre Dame.
The economists say the sharp rise in poverty is occurring for two reasons: Millions of people cannot find jobs, and government aid for the unemployed has declined sharply since the summer. The average unemployment payment was more than $900 a week from late March through the end of July, but it fell to about $300 a week in August, making it harder for the unemployed to pay their bills.
"There are two ways to counteract this upward trend in poverty: One is a dramatic improvement in the labor market. The other is more support from the federal government. Given the state of the virus, I wouldn't bet on significant improvement in the labor market in the short run," James X. Sullivan, a professor at Notre Dame said.
https://www.greenwichtime.com/business/article/Nearly-8-million-Americans-have-fallen-into-15807427.php
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Shit be real out there.
Should take care of that, yes ?
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