New poverty measure confirms coronavirus-driven federal stimulus measures were effective

The coronavirus pandemic has already taken a significant toll on the U.S. labor market. In the 12 weeks since the start of the pandemic, more than 40 million people filed for unemployment insurance, and the employment rate fell by 14 percent in April—the largest one-month decline on record. At the same time, the federal government initiated an unprecedented response that committed more than $3 trillion to countering the effects of the pandemic. Was this response enough to stave off a rise in poverty, and if so, for how long?

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