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October 16, 2020

Covid pandemic pushes 8 million into poverty in US

By Paul Dennis

16 October

Latest research has indicated that millions of people have been pushed into poverty due to the impact of the Covid-19 pandemic. As infection cases continue to rise and without additional aid, more people are expected to be impacted.

Justin Wolfers, professor at the University of Michigan, shared an article on the number of people in poverty growing to eight million in the US, according to research conducted by Columbia University.

The $2tn stimulus package announced by the US government initially helped in saving millions of people from poverty.

The aid, however, has now exhausted pushing millions into poverty.

Although the job market has witnessed improvement since May, the rebound in the economy is too slow to offset these benefits.

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The economy is showing further signs of contraction due to increasing layoffs, rising coronavirus cases and lack of progress on stimulus talks.

Minority groups including Black and Latino people are most affected due to the impact on the industries that they mostly employed.

Read more

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