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Census Bureau: Median Incomes Climbing for First Time Since 2007

12 September, 2017, 22:21 | Author: Jeff Stephens
  • Median US Household Income Up for 2nd Straight Year; Tops '07 Level

The new official poverty rate in the country is 12.7 percent.

The Census Bureau has finally gotten around to calculating household income for 2016, and the news is good: adjusted for inflation, income was up 3.2 percent previous year.

The bureau said the 2016 poverty rate was not significantly higher than the 12.5 percent poverty rate in 2007, the year before the most recent USA recession.

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The Census Bureau reportedly changed its methodology in 2014, which could mean the numbers are not definitive.

In the United States, family incomes are up, the poverty rate is down, and the number of people covered by health insurance has improved. Meanwhile, Asian households had a median income of $81,400 and Hispanic households of $47,700. "We can't tease out" whether the increase in income stems from changes in the economy or changes in the questions posed, Renwick said.

The median United States household income for the year was $59,039, up 3.2 percent in inflation-adjusted terms from the prior year and the second consecutive increase. There are various accounts from public opinion polls and from the popular press indicating that middle class and working-class Americans still feel economically insecure. 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.

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That percentage-point increase in 2015 was the largest since 1998, when real median income increased 3.7 percent from 1997, Jonathan Rothbaum, chief of the bureau's statistics branch, said in an online analysis at the time.

The agency released data on income, poverty, and health insurance for 2016.

In Ohio, one of the states which expanded Medicaid coverage under the Affordable Care Act, the uninsured rate fell from 11 percent in 2013, to 8.4 percent in 2014, to 6.4 percent in 2015 and a low of 5.6 percent past year.

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