Home » Economy » Poverty rate fell in April, May because of coronavirus relief payments, researchers say
Poverty rate fell in April, May because of coronavirus relief payments, researchers say
White House, Congress working on fourth round of stimulus that may total $1.5T: Gasparino
Sources tell FOX Business’ Charlie Gasparino the next round of stimulus is expected to include aid to states, municipalities, infrastructure and a rural buildout.
Even in the middle of the coronavirus pandemic, the U.S. poverty rate fell by 2.3 percentage points in April and May, researchers from the University of Chicago and University of Notre Dame estimated.
Continue Reading Below
The poverty rate fell from 10.9 percent in January and February to 8.6 percent in April and May, according to the researchers' analysis of data from the Census Bureau's monthly household survey.
WHAT COMPANY IS THE LARGEST EMPLOYER IN THE U.S?
"You can ask, 'How could that be?'" researcher Dr. Bruce Meyer, who teaches public policy at the University of Chicago, told FOX Business. "The answer is the stimulus checks, the supplements to unemployment insurance and the expansion of unemployment insurance to people who have not been covered in the past."