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Driving the news: While the official poverty rate (considered an outdated measure) didn't see a significant change from 2021 to 2022, the supplemental poverty measure (SPM), which takes government aid into account, saw a sharp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