Median Household Income Has Finally Topped Pre-Recession Levels

Violet Tucker
September 13, 2017

Information released by the U.S. Census Bureau today shows a more than 3 percent increase in the median household income.

Median household income, meanwhile, rose to $59,039 in 2016, a 3.2 percent increase from 2015 and the second consecutive annual increase in the category, the Census Bureau said.

The Census data said it changed its income questions in 2014, which makes it hard to make comparisons before that year. Hispanic households have a real median income of $47,675.

The U.S. poverty rate varies depending on household. The South and the Western regions of the US saw the biggest income increases, while the Northeast and Midwest saw no statistically significant change at all.

American families are finally getting a break nearly 10 years after the Great Recession decimated household income and eroded personal wealth. That is the second gain in two years.

The Census report covers 2016, the a year ago of the Obama administration, and underline the strength of the economic recovery he oversaw after the worst recession in living memory.

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At the same time, the agency said last year's official USA poverty rate was about where it was before the recent US recession.

Still, the Census data is closely watched because of its comprehensive nature.

The number of poor decreased for most demographic groups with the exception of adults over 65 years old, the only population group that posted an increase in the number living in poverty, it added.

The number of those without health care coverage is also down.

And the proportion of Americans without health insurance declined to 8.8 percent, the report showed, down from 9.1 percent. Some 40.6 million Americans were living in poverty in 2016, down from from 43.1 million in 2015. Still, almost 41 million Americans remained in poverty in 2016.

The report found that the gender gap in wages narrowed previous year for the first time since 2007. According to EPI's estimates, which compensates for the difference in income measurement before 2014, the median household earned about $59,992 in 2007, slightly more than the $59,039 reported in 2016. Women now make 80.5 cents to every $1 earned by men, or an increase of 1.1 percent from 2015.

Other reports by Guamnewswatch

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