Middle class income in the US tops $59000, a 3.2 percent jump
Middle class income in the US tops $59000, a 3.2 percent jump
Median US Household Income Up for 2nd Straight Year; Tops '07 Level
13 September, 2017, 00:37
The median USA household's income finally topped pre-recession levels last year and has reached an all-time high after years of sluggish growth.
The median household income was $59,000, up 3.2 percent from 2015.
There was no significant change in income inequality for the year, with the top five percent of households bringing in $225,252 or more a year while the bottom quintile earned $24,003 or less.
The Census data said it changed its income questions in 2014, which makes it hard to make comparisons before that year. In 2015, household incomes rose 5.2%, the largest increase since records began in 1967. The U.S. economy added a total of 2 million jobs previous year, ending with a 4.7% unemployment rate, down from 5% at the close of 2015.
"Over the past several decades Census Bureau reports have found that the average one year risk of poverty tends to vary between 11 and 15 percent".
The median household income took a serious hit during and after the Great Recession. This is the first time since the recession that the poverty rate isn't statistically different from the 2007 level of 12.5%, a sign of how the USA economy has recovered from the Great Recession. Nevertheless, the Census data indicates that the most recent income gains have pushed household income close to where it stood in 2007. In addition, the number of people without health insurance went from 29 million to 28 million between 2015 and 2016.
"This has been two consecutive years of very strong income growth", said Trudy Renwick, assistant division chief at Census. About 1.2 million more Americans earned income in 2016 than in 2015, and 2.2 million more had full-time year-round jobs.
And the proportion of Americans without health insurance declined to 8.8 percent, the report showed, down from 9.1 percent. While that is an improvement, it still leaves 40.6 million Americans in poverty.
"Real median household income has finally completed its nine-year slog of digging out of the ditch", said Chris Christopher, executive director of IHS Markit.
The gap between the earnings of women and men narrowed slightly in 2016, with women now earning just more than 80 cents for every dollar men earn.
I don't think football-wise or tactical-wise there will be many changes, I think it is about mentally being where we are now. Spurs begin their European campaign on Wednesday night with a home match against Borussia Dortmund .
The world will witness how the DPRK tames the USA gangsters by taking series of action tougher than they have ever envisaged. The United States and its allies had pushed for new sanctions to increase pressure on North Korea to agree to negotiations.
She said the sanctions could eventually starve North Korea of an additional $500 million or more in annual revenue. More than 90 percent of North Korea's reported exports are now fully banned by sanctions, Haley said.
Clarke also said Australia needs to decide on their style of play. "I think this Australian team has huge potential". Laxman heaped praise on India all-rounder Hardik Pandya but reckoned he should be consistent with his bowling.
Bihar CM Nitish Kumar called up the boy's father on Monday and also got Haryana CM Manohar Lal Khattar to have a word with him. Since its inception the show is redefining India's super prime time and is numerically far ahead of its contemporaries.
Woods later dropped the suit after receiving a letter signed by the user acknowledging that he didn't know if Woods used cocaine. Again, the actor did not respond directly to the allegations, but did respond to a question by someone on Twitter .
One example shown featured using an Major League Baseball app to see play stats over the field while you're at the ballpark. The new version, called Apple Watch Series 3 , will use an existing iPhone phone number when making calls, Apple said.
The video - which has gotten more than 3 million views - features a woman in mirrored sunglasses talking to the camera. They said, 'Only you and your daughter can see her and you can't take pictures because this is a crime scene'.
Australia starts voting on same-sex marriages
But several politicians have said they would vote against same-sex couples being able to Wednesday regardless of public opinion. Turnbull added that the Marriage Act could be amended by the end of the year if support for a change is seen in the survey.
Pres. Trump to Meet With PM of Malaysia
He said this at a gathering with Malaysian students and Malaysians living in the United States, at the Malaysian Embassy here. The White House says the meeting will focus primarily on security issues and North Korea, and not the corruption scandal .
Irma leaves two thirds of Florida without power
Search and rescue teams in Florida are swinging into action as daylight reveals the extent of damage wreaked by Hurricane Irma. Across the Caribbean , more than 30 people were killed by Irma, including 10 in Cuba , state authorities announced on Monday.
Air Berlin cancels dozens of flights
A decision on the fate of Air Berlin could come as quickly as September 21, three days before the German national election. Chief executive Thomas Winkelmann said the pilots in question were "playing with fire".
Destiny 2 Removing Item That Resembles Hate Group Symbol
This does NOT represent our values, and we are working quickly to correct this. - Bungie (@Bungie)2/2 Our deepest apologies. Fans of Destiny 2 will have to try not to panic this afternoon as servers go down for a spell of maintenance .
How will Liverpool line-up against Sevilla?
Alongside Sevilla , Liverpool have also been grouped with Spartak Moscow and Maribor for their Champions League campaign. Despite playing twice for Brazil, the forward was left out of Saturday's 5-0 defeat by Manchester City .
Eric and Lara Trump Announce Birth of First Child
Donald Trump Jr. and his wife, Vanessa, have five children , and Ivanka Trump has three children with her husband, Jared Kushner. He wrote on Twitter that he and Lara "are excited to announce the birth of our son, Eric "Luke" Trump at 8:50 this morning".