Household income in the United States rose sharply last year while poverty declined — fruits of a record-long period of economic growth that ended abruptly when the coronavirus pandemic struck. An annual report from the Census Bureau shows median household income jumped 6.8% in 2019, to $68,700. That's the highest since the government started keeping track in 1967. The poverty rate declined to 10.5% — the lowest since records began in 1959. Analysts caution that both income and poverty measures may have been skewed by the challenges of conducting interviews during the pandemic. Fewer people completed the survey than in years past, which likely resulted in artificially boosting the income measure while depressing the poverty rate. Were it not for...
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American Incomes Were Rising, Until The Pandemic Hit