Yahoo News 
US Child Poverty Surges by Most on Record Following Expiration of Benefits
(Bloomberg) -- US child poverty surged by the most on record last year following the expiration of unprecedented pandemic-era benefits.
Most Read from Bloomberg
Luxury Cruise Ship Full of Australians Stuck in Greenland Arctic
iPhone Pro’s Titanium Finish Stands Out in First Look at Device
AT&T, T-Mobile Offer Free iPhone 15 in Lure for New Subscribers
A supplemental measure of child poverty jumped to 12.4% in 2022, according to Census Bureau data out Tuesday. The metric, which is based on after-tax income and includes government-transfer payments like stimulus checks, more than doubled from a record low in 2021 but remained below pre-pandemic levels.
The latest figures illustrate a worrisome trend for families as prices continue to rise, stimulus payments fade and enhanced food and child-care programs expire. That is stripping many Americans out of the advances seen during the pandemic, and is already contributing to an increase in family homelessness.
The report “highlights that poverty in our country isn’t a personal failing, but rather a policy choice,” Melissa Boteach, vice president for income security at the National Women’s Law Center, said in a statement.
The Census report paints a gloomy picture of Americans’ financial situation, and helps explain why for many people it already feels like a recession even as the economy powers ahead.
The overall supplemental measure of poverty also rose to 12.4%, and inflation-adjusted household incomes fell by the most in over a decade. Estimates for the supplemental measure have been released since 2011 with the data going back to 2009.
Most Read from Bloomberg Businessweek
ADHD Drug Shortages Worsen as Makers Say Production Is Maxed Out
James Dolan’s $2.3 Billion Sphere Is Raising Eyebrows—in a Good Way
Huawei’s Surprise Phone Gives Ammo to Biden Doubters on China
©2023 Bloomberg L.P.
