Economy

8 Million Americans Slipped Into Poverty Amid Coronavirus Pandemic, New Study Says

Researchers looked at the devastating financial effect the pandemic has had on Americans, with Blacks, Latinos and children faring the worst

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The number of Americans living in poverty grew by 8 million since May, according to a Columbia University study, which found an increase in poverty rates after early coronavirus relief ended without more to follow.

Although the federal Cares Act, which gave Americans a one-time stimulus check of $1,200 and unemployed workers an extra $600 each week, was successful at offsetting growing poverty rates in the spring, the effects were short-lived, researchers found in the study published Thursday.

After aid diminished toward the end of summer, poverty rates, especially those among minorities and children, rebounded, they said.

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