Approximately eight million Americans have fallen into poverty since early May, according to a new study conducted by Columbia University, .
Researchers found that the poverty rate in September is worse than those in both April and May. The reasons behind the drastic increase in the poverty rate may be linked to the expired CARES Act that provided stimulus checks to American families.
As explained in the study, the “pre-crisis levels” of poverty are due to “the expiration of the CARES Act’s stimulus checks and $600 per week supplement to unemployment benefits.”
In similar research studies conducted by Notre Dame and the University of Chicago, the findings appeared to be even more concerning.
The Columbia model shows an improvement in September, the Chicago and Notre Dame analysts showed that poverty grew at an alarming level.
