Customer counts his cash

A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, New York on March 27, 2010.

(Reuters) — The median U.S. household income decreased in 2020 and the poverty rate rose, according to a government survey released on Tuesday that helps to quantify how much Americans' finances were affected after the coronavirus pandemic severely disrupted the U.S. economy.

The U.S. Census Bureau said real median household income decreased to $67,500 in 2020, down 2.9% from 2019. The report also showed that the nation’s poverty rate rose to 11.4% from 10.5% in 2019, the first increase after five years of declines.

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