In December 2021, the child poverty rate was 12.2%, while in January 2022, it increased to 17%, which was the highest rate since December 2020. The 4.9% increase represents 3.7 million more children in poverty, and the Latino and Black children were the largest percentage-point increases (7.1 % and 5.9 % respectively).
Due to the rollout of the monthly Child Tax Credit, it kept 3 million children from poverty in July, by December, 3.7 million children were kept out of poverty and reduced monthly child poverty by 30 percent. But after the expiration of the monthly Child Tax Credit payments in January 2022, leading to the highest number of children living under the poverty line.
Zachary Parolin, Sophie Collyer, and Megan A. Curran from Bocconi and Columbia University developed a novel method of forecasting poverty to trace poverty monthly and noted the changes above based on the monthly income of the family unit and other estimates with a two-week lag. Read more of their work here.
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