28-September-2020
Economy News
 
US median income hit record high before Covid-19 hit: Report
16-Sep-2020

US median household income hit a record high in 2019 and the poverty rate fell, according to a government survey released on Tuesday that offered a snapshot of the economy before millions of American jobs were destroyed by the coronavirus pandemic. The US Census Bureau said real median household income jumped 6.8% from $64,324 in 2018 to $68,703 last year - the highest since the agency began tracking the data in 1967. It also said the nation’s poverty rate fell last year to 10.5%, a 1.3-percentage-point drop. Another measure of poverty that adjusts for government aid programs for low-income Americans showed a drop to 11.7% last year from 12.8% in 2018.

News Source:- https://www.hindustantimes.com/business-news/us-median-income-hit-record-high-before-covid-19-hit-report/story-CBUJtfhNZ0CnvK570qLo9H.html