Poverty in New York City is rising at a startling rate and it’s affecting the city’s most vulnerable residents — children, according to a newly released report .
More than half of New York City residents, including a quarter of all children, live in poverty or are low-income, according to the Poverty Tracker Annual Report from Columbia University and the philanthropic organization Robin Hood.
Researchers surveyed a sample of 3,000 New York households for three months to track data on employment, assets, debts and health.
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Overall, the city’s poverty rate increased from 18% to 23% and the number of New Yorkers living in poverty grew from 1.5 million to 2 million between 2021 and 2022, marking the largest single-year jump in poverty rates in a decade, according to the report.
The child poverty rate increased 66% from the previous year, according to the report.
Factors that influenced the poverty rate were the end of pandemic-era policies such as the Child Tax Credit and federal stimulus payments, the report noted.