Analysis:
- The percent of people in poverty in the U.S. fell 0.5 percentage points in 2018, meaning 1.4 million fewer people are in poverty than in 2017.
- Poverty in principal cities has fallen 1.2 percent over the same period.
- The poverty rates for children under 18 decreased by 1.2 percentage points in 2018.
Economist Corner:
Led by a growing economy and strong labor market, the U.S. poverty rate has fallen 0.9 percent over the past two years. In particular, the tight job market has increased labor force participation and wage growth.