Summary
According to the Census Bureau, the official poverty rate in 2021 was 11.6 percent, with 37.9 million people in poverty, while the SPM rate was 7.8 percent, a decrease of 1.4 percentage points from 2020.
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The Monthly Financial Insecurity Estimates using the Household Pulse Survey and Modeling the 2021 Child Tax Credit in the CPS ASEC provide guidance on how to choose the right data source for one's needs.
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In February 2022, the poverty rate for the total US population was 14.4 percent, a slight decrease from 14.7 percent in January 2022, but a continuation of the spike from the December 2021 monthly poverty rate of 12.5 percent.
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Social Security was the most important antipoverty program in 2021, moving 26.3 million people out of SPM poverty, while refundable tax credits and stimulus payments moved 9.6 million and 8.9 million people out of SPM poverty.
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