U.S. Sees Increase in Poverty Despite Rising Incomes, Census Bureau Reports

New data shows a rise in the Supplemental Poverty Measure and child poverty, highlighting the impact of higher living costs and the end of pandemic aid.

• The U.S. Census Bureau reported a rise in the Supplemental Poverty Measure to 12.9% in 2023, up from 12.4% in 2022, despite an increase in median household incomes.
• The official poverty rate, which does not account for living expenses and taxes, fell from 11.5% to 11.1%.
• Child poverty rose significantly, with nearly a million more children in poverty, increasing from 12.4% to 13.7%.
• Experts attribute the increase in poverty to higher living costs and the expiration of pandemic-era assistance programs.
• Both political parties are discussing the reintroduction of child tax credits as a solution to combat rising child poverty.

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