Median household income is $59039, new US Census Bureau report says

Median US Household Income Up for 2nd Straight Year; Tops '07 Level

Median US Household Income Up for 2nd Straight Year; Tops '07 Level

Experts at the Census Bureau published the data Tuesday, and it shows the median household income rose 3.2 percent between 2015 and 2016, hitting $59,039. The figures for 2016 mark the second consecutive annual increase in the median household income - a closely watched metric for how the American middle class is doing from year to year, adjusted for inflation.

WASHINGTON | In a stark reminder of the damage done by the Great Recession and of the modest recovery that followed, the median American household previous year finally earned more than it did in 1999. Incomes rose a bit for non-Hispanic white ($65,041), Hispanic ($47,675), and black families ($39,490), but were lower than their Asian neighbors.

The median USA income has now posted solid gains for two straight years. It is also the first time since the recession ended in 2009 that the typical household earned more than it did in 2007, when the recession began.

Real income grew drastically more for the top 10 percent of Americans than for the bottom 90 percent. The Census attributes the gains in 2016 to a lot of Americans finding full-time or better-paying jobs.

As a result, 40.6 million people now live below the poverty line, 2.5 million fewer than the year before, in the second consecutive decrease in poverty.

Median US Household Income Up for 2nd Straight Year; Tops '07 Level
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While the median income was the highest ever recorded in a Census Bureau chart that dates to 1967, bureau officials said long-term historical comparisons should not be drawn because of changes in 2014 to the income question in the bureau's Current Population Survey.

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

The share of people without health insurance dropped to 8.8 percent from 9.1 percent in 2015, though 28.1 million people remained uninsured in 2016.

The poverty rate in 2016 ticked down by 0.8 percentage point to 12.7 percent.

US men continue to earn more than women, the report shows.

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