Monday, 22 October, 2018

Median U.S. Household Income Rose in 2017, Considered Highest on Record

Household incomes rise to new high but rate of health coverage flattens Americans' incomes rise, but annual gains are slowing
Ginger Lawrence | 13 September, 2018, 22:24

Last year, it reached $61,400.

Middle-class income rose to a record level in 2017 as the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday.

"Crossing the $61,000 mark was important as it signals the American middle-class is earning a little more than it did in 1999, although the Census Bureau cautions median income is still not "statistically significant" from the late 1990s".

The nation's median income - the midpoint where half makes more and half less - didn't start rising again until 2014.

But by other measures, the US economy is still not working for everyone.

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But the Chinese government has long anxious about the potential for extremists or separatist groups to carry out similar attacks. Occasionally, the attacks are attributed to militant separatists, though such attacks have become less common in recent years.

Real median earnings of all male workers increased 3.0 percent in 2017 while the earnings of female counterparts stayed stagnant.

"The equity markets and overall industry sentiment have picked up during President Trump's tenure, but he did inherit a relatively downward trend on the unemployment and income rates, among other metrics like poverty", said Chris Christopher, executive director of consumer economics at IHS Markit in St. Louis, Missouri.

Much of these gains in household income and workforce participation come as the economy's strength continues to climb in 2018.

The report showed that the poverty rate - the percentage of people living in poverty - fell to 12.3 percent a year ago from 12.7 percent in 2016. The U.S. economy has added jobs each month since October 2010, and the unemployment rate dropped below 4 percent in April.