The median household income in the United States fell and the poverty rate rose in 2020, according to a government survey released on Tuesday. The survey helps quantify the impact on Americans' finances after the COVID-19 epidemic severely disrupted the U. S. economy.

The median real household income in the US fell to $67500 in 2020, down 2.9 per cent from 2019, according to the Census Bureau. The report also shows that the poverty rate in the United States rose to 11.4 percent from 10.5 percent in 2019, the first increase after five consecutive years of decline.