"The most interesting aspect of this report is the different directions the two measures of poverty went in 2023. The official poverty measure declined to 11.1% from 11.5%, while the supplemental poverty measure increased to 12.9% from 12.4%."
"The official poverty rate fell because overall household income rose modestly in 2023, even after taking inflation into account. However, many poverty experts, including myself, believe that the supplemental poverty measure is a better indicator of what's going on."
"A key reason for the increase in the supplemental poverty measure is that Social Security benefits and the Supplemental Nutrition Assistance Program pulled fewer people out of poverty in 2023 than in 2022."
"The supplemental poverty measure also increased as the result of out-of-pocket medical expenses being higher in 2023 than in 2022, highlighting the economic hardships more Americans faced."
#poverty-rates #economic-inequality #census-bureau #supplemental-poverty-measure #social-support-programs
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