Retail News

Poverty in America grows at fastest rate in more than 50 years

Bloomberg/Th Columbian 01/27/2021

The poverty rate in the U.S. has grown 2.4 percent in the last six months. That’s nearly twice the previous largest increase the country has seen going back to the 1960s, according to a study authored by economists Bruce Meyer of the University of Chicago and James Sullivan at Notre Dame. Black Americans were more than twice as likely to have fallen into poverty than whites, according to the report.

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