Poverty increased in 2022 as wages fell and inflation rose: Census

A measure of poverty tracked by the Census Bureau rose in 2022, as COVID era benefits expired and average income fell, according to a Tuesday report.

Why it matters: Child poverty saw a sharp increase in 2022 following a record low the year prior.

Driving the news: While the official poverty rate (considered an outdated measure) didn't see a significant change from 2021 to 2022, the supplemental poverty measure (SPM), which takes government aid into account, saw a sharp increase.

The SPM was 12.4% in 2022, an increase of 4.6 percentage points from 2021. It had not increased since 2010, per the Census Bureau.

State of play: The poverty rate went up because most pandemic-era support systems went away.