U.S. Poverty Rate Falls for First Time Since Last Spring
(Bloomberg) -- For the first time in seven months, the trend of rising poverty in America reversed, according to a measure created by the University of Notre Dame’s Wilson Sheehan Lab for Economic Opportunities and the University of Chicago’s Harris School of Public Policy. The overall poverty rate fell to 11.3% last month from 11.8% in December, thanks to both stimulus payments and supplemental unemployment benefits. Despite the progress, 21.5% of Blacks live in poverty, more than double the rate for Whites, while over one in five people with a high-school diploma or less are also impoverished -- a rate more than three times that for those with more education.
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