Census Figures Show Americans’ Incomes Fell in 2020
Americans last year saw their first significant decline in household income in nearly a decade, government data showed, with economic pain from the Covid-19 pandemic prompting government aid that helped keep millions from falling into poverty.
An annual assessment of the nation’s financial well-being, released Tuesday by the Census Bureau, offered insight into how households fared during the pandemic’s first year.It arrives as Washington debates how much more to spend to bolster the economy during the worst public-health crisis in a century.