American household income finally topped 1999 peak previous year

American household income finally topped 1999 peak previous year

Median household income rose 3.2 percent to $59,039 last year, marking the second consecutive year of income gains since the economic crisis, the U.S. Census Bureau said Tuesday.

The income growth, however, likely stems from more people returning to work and more moving up to full-time jobs, as opposed to workers getting significant raises, said Jared Bernstein, senior fellow at the left-leaning Center on Budget and Policy Priorities.

Asian-Americans reported the highest household incomes, at $81,431, which was little changed from 2015.

The Census data said it changed its income questions in 2014, which makes it hard to make comparisons before that year.

Real income grew drastically more for the top 10 percent of Americans than for the bottom 90 percent.

The median household income took a serious hit during and after the Great Recession.

Median household income rose 3.2% when adjusted for inflation to $59,039, the second straight rise and a new all-time high, finally surpassing the previous record set in 1999.

New Apple TV Gets 4K Support, Releases Later This Month
CEO Tim Cook announced that next-gen has arrived with 4K playback support, so the streaming box is aptly named, Apple TV 4K. The iPhone accounts for nearly two-thirds of total sales, and it's a hub for most of Apple's other products and services.

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 US recession.

Sheldon Danziger, head of the Russell Sage Foundation poverty research group, said "expanding the earned income tax credit. and more spending on badly needed infrastructure and early childhood education" would lift employment and productivity. The median income for white households in 2016 was about $65,000; it was $39,500 for black households.

The poverty rate has returned to pre-recession levels. That's $22 per year.

There was a big difference in the uninsured rate between the 31 states (plus the District of Columbia) that expanded Medicaid under Obamacare and those that did not.

America's poverty rate also fell to 12.7%, its lowest rate since 2007.

The percentage of people without health insurance was 8.8%, a decline of 0.3%.

Income inequality and wage stagnation have plagued most American households in the post-recession years, crimping family budgets at a time when the cost of essentials such as health care have risen sharply. While that is an improvement, it still leaves 40.6 million Americans in poverty.

Related News:

  • Rian Johnson Says He's Not Thinking About Directing Star Wars: Episode IX

    Rian Johnson Says He's Not Thinking About Directing Star Wars: Episode IX

    As well as directing, Abrams will co-write the film with Chris Terrio , the man behind the scripts for Argo and Justice League . The companies see Abrams as the flawless fit for " Episode IX ", given his proven track record in the " Star Wars " universe.
    Mooy suffers first EPL loss with Huddersfield

    Mooy suffers first EPL loss with Huddersfield

    The silver lining is that the Yorkshire club are still yet to concede a goal. "I am pleased with the way we played". Scroll through the gallery above to check out talkSPORT's West Ham player ratings.
    Disney World Reopening After Hurricane Irma

    Disney World Reopening After Hurricane Irma

    Magic Kingdom, Epcot , Animal Kingdom and Hollywood Studios will reopen at 9 a.m., but Disney Springs opens at 10 a.m. Kennedy, and the September 11 terrorist attacks-though all still only saw the park shut down for a day.
  • Benchmark Holdings PLC's (BMK)

    Benchmark Holdings PLC's (BMK) "Under Review" Rating Reiterated at Numis Securities Ltd

    The stock of Standard Life Aberdeen PLC (LON:SLA) has "Outperform" rating given on Monday, September 11 by RBC Capital Markets. The Company provides execution only, advisory services and third-party investments for individuals and corporates.
    Times Kangana Ranaut Was The Embodiment Of Empowerment

    Times Kangana Ranaut Was The Embodiment Of Empowerment

    Above is the tweet which Rangoli only just shared, which suggests that Pancholi had admitted that Kangana had filed a complaint. In a recent video uploaded by AIB , Kangana Ranaut took digs at misogyny and nepotism in the industry through a comical song.
    75 in US News Rankings

    75 in US News Rankings

    Officials at the University of ME at Presque Isle have announced that the institution earned three top rankings on U.S. UB is rated among the "top 50" public universities in the nation for the fourth straight year.
  • Celebs Slam Vile Homophobia and Hypocrisy of James Woods

    Celebs Slam Vile Homophobia and Hypocrisy of James Woods

    Actress Amber Tamblyn chimed in claiming that Wood attempted to hit on her and a friend when she was just 16 years old. Woods criticized the movie in a tweet Sunday, writing , "As they quietly chip away the last barriers of decency.
    Arsenal shouldn't get carried away despite emphatic win at Bournemouth

    Arsenal shouldn't get carried away despite emphatic win at Bournemouth

    That's a pretty damning verdict so I have to do better to solve the issues we have and make sure we put on better displays.
    Cellular-packin' Apple Watch Series 3 doesn't need an iPhone

    Cellular-packin' Apple Watch Series 3 doesn't need an iPhone

    The Apple Watch Series 3 will be available in an LTE model and a standard model without LTE, like the company's iPad models. Apple revealed its latest wearable device: the Apple Watch Series 3 , which will be available for pre-order this week.
  • Mnuchin: The President is 'Absolutely a Republican'

    Mnuchin: The President is 'Absolutely a Republican'

    The Treasury secretary did hesitate about cutting the tax rate to 15 percent, which President Trump has said would be his goal. Academics who have studied the issue say the figure could be much higher, $180 billion.
    Lara & Eric Trump Welcome Baby Boy

    Lara & Eric Trump Welcome Baby Boy

    He now serves as a trustee of Trump organisation alongside his older brother Donald Trump Jr, and they both run the organisation while their father oversees the affairs of the country.
    Booker Co-Sponsoring Single-Payer Healthcare Bill with Bernie Sanders

    Booker Co-Sponsoring Single-Payer Healthcare Bill with Bernie Sanders

    Sanders frequently talked during his campaign about extending government-paid health care for seniors to all age groups. It would replace private health insurance markets and have the federal government foot all medical bills.


Most liked

Local volunteers deployed to Texas to help Hurricane Harvey victims
But he says perhaps the most important skill they bring in the initial aftermath of a disaster is the ability to comfort and listen.

Tommy Wiseau Wanted Johnny Depp to Play Him in 'The Disaster Artist'
The film is out in the United Kingdom in December and should arrive in the United Kingdom not long afterwards. Rather than exist as the butt of the joke, he decided to make the joke his own.

Japan PM arrives Wednesday for talks with Modi, bullet train project
According to sources, the Railways has planned to run two types of bullet trains on the basis of their speed. He said the previous joint statements by the two countries clearly articulated the views of both.

In Setback for Murdoch, UK Regulators to Review Sky Takeover
Fox News had innacurately claimed that Rich was the source of hacked emails published by WikiLeaks and retracted the story. Bradley still has ten days before her decision is finalised and the deal could still be given the go-ahead.

David Johnson to undergo wrist surgery, be placed on IR
If that is the case, NFL Network's Ian Rapoport reported Monday morning that it is possible Johnson could miss no time at all. It was the loss of the key that was set to drive the Cardinals offense into the playoffs in 2017.

Over 1.4M in Florida lose power from Irma, utility says
As a result, ratings may be delayed for a few days, depending on how soon the data center can reopen and staff can return to work. In a worst-case scenario, the spent fuel could release radiation if exposed to the air, but Scott Burnell of the U.S.

Zidane told me apart from Messi, I'm the best left footer - Asensio
In addition, he is very happy to play again because it is what he likes, what makes him happy. We are all happy that he is with us.

Police Investigate Viral Video That Amplified Kenneka Jenkins' Death
About 20 hours after Jenkins' mother received that frantic phone call from her friends, Jenkins was found dead in the freezer. The video - which has gotten more than 3 million views - features a woman in mirrored sunglasses talking to the camera.

Warriors sign lucrative patch advertising deal with Rakuten
The Rakuten badge will be featured on all of Golden State's practice, regular, post-season and Summer League uniforms. The Warriors won the 2017 NBA Championship, the fifth title in franchise history and second in the last three years.

Volkswagen's Entire Car Range Is Going Electric By 2030
CROZZ is a crossover of an SUV and a four-door coupé, which has been further improved towards a production implementation. The French auto maker PSA is considering moving the production of electric vehicle components back to within the company.

Irma, Harvey combined damage total in United States could near $300B
The last Category 4 hurricane to occur in the USA was Hurricane Charley in 2004, which also hit Florida . Irma has now been downgraded to a tropical storm and will soon be a tropical depression.

GAME PREVIEW: Broncos look to start season with a win
The Broncos were on the Chargers' 13-yard line with less than six minutes left, and had a chance to take another commanding lead. Joseph succeeded Gary Kubiak, who resigned one season after leading the Broncos to a Super Bowl title because of health issues.

Champions League: Antonio Conte to rotate Chelsea squad
It had been thought that Hazard could start his first game of the season for Chelsea against Qarabag on Tuesday night. They have not managed to sign any new players this summer due to their transfer ban but the team is still intact.

Juventus star Paulo Dybala discusses difficulties of playing alongside Lionel Messi
Remember those two ties were, respectively, the Berlin Champions League Final of 2015 and then last season's quarter-final clash. He added: "It's the first game of the Champions League after last year's run and the disappointment of defeat".

India August YoY consumer price inflation up 3.36%
It stated that Consumer Food Price Index (CFPI) stood at 1.52% in August 2017 as against 5.91% in the same month of a year ago . Today's numbers are up from the 2.6% level of inflation , which was recorded in the previous figures for both July and June.