Washington, D.C. – American households saw their best economic gains in half a century last year under President Trump, according to a report this week from the U.S. Census Bureau.
And with President Donald Trump’s pro-growth, pro-worker policies in action, this standard can be achieved again as America safely reopens from the COVID-19 Coronavirus pandemic.
Median household income grew by a stunning $4,400 in 2019, resulting in an all-time record of $68,700. This 6.8 percent one-year increase is the largest gain on record for median income growth.
The poverty rate plunged to an all-time low of 10.5 percent, as well. Between 2018 and 2019 alone, over 4 million Americans were lifted out of poverty, and the child poverty rate fell to a nearly 50-year low in 2019.
Minority groups including African Americans, Hispanic Americans, and Asian Americans saw the largest gains in income, while poverty rates fell to a record low for every race and ethnic group in 2019.
Black Americans, for example, saw a 7.9 percent median income increase and a poverty rate that fell below 20 percent for the first time in history.
The COVID-19 Coronavirus pandemic disrupted this historic progress in 2020. Nevertheless, America today is witnessing the fastest recovery from any economic crisis in history. Thanks to the strong fundamentals of the Trump Economy, the monthly jobs report has met or exceeded economist expectations for four months in a row.
The new Census report confirms what we know to be true: With the right agenda for blue-collar and middle-class workers, there’s no limit to America’s economic greatness!
Incomes Hit Record High and Poverty Reached Record Low in 2019