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

Census Bureau

Median household income for the nation rose 3.2 percent in 2016 over the prior year, the second consecutive year an increase has occurred, the U.S. Census Bureau reported Tuesday. In 2015, median household income jumped 5.2 percent, reaching $56,500, which was the first annual increase in median household incomes since 2007, or before the recession began. In the two years following the end of the Great Recession, median household income fell almost $2,000 to $50,054 in 2011. However, the Census Bureau warned against making direct comparisons because of changes in its methodology, made in 2014. That puts income just 1.6 percent below what households earned before the recession started in late 2007, according to the Economic Policy Institute, a left-leaning think tank.

The bureau said changes in incomes in households in the Northeast were "not statistically significant", while the poverty rate in the Northeast decreased from 12.4 percent in 2015 to 10.8 percent in 2016.

American families are finally getting a break nearly 10 years after the Great Recession decimated household income and eroded personal wealth.

The Census report covers 2016, the past year of the Obama administration, and underline the strength of the economic recovery he oversaw after the worst recession in living memory.

New data from U.S. Census Bureau was released today on income, poverty, and health insurance coverage.




Still, the Census data is closely watched because of its comprehensive nature.

The poverty threshold for a two-person household under the age of 65 was $16,072 a year ago.

The number of Americans who did not have health insurance for the entire year was 28.1 million, or about 8.8 percent, a decline of 0.3 point from 2015.

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.

Regionally, the Northeastern United States has the highest median household income at $64,390. Basically, the good news from last year's income report, which was the first really positive sign in almost a decade, may be turning into a trend. Women earned 80.5 percent of men's earnings, up from 79.6 percent in 2015.

Related news:

Hot News

isis-killer-beheading-video-story-top Bob Jones University Ranked in US News & World Report Rankings
Sep 13, 2017 - 00:42
News deemed 50 institutions as "Best Colleges for Veterans", with Misericordia getting highest local honors at 23rd. The technological schools in India's leading metropolitans have been ranked in the 191-200 category globally.

isis-killer-beheading-video-story-top West Ham up and running with victory over Huddersfield
Sep 13, 2017 - 00:40
Times were tough, but we needed to stick together and work hard as a team to make it happen. We totally deserved it. "If we have learned that lesson then I accept this".

isis-killer-beheading-video-story-top Liverpool to appeal against length of Sadio Mané ban
Sep 12, 2017 - 00:48
However, after a major revamp with hassle-free spending, his boys now look hungrier than ever. "You can talk about the rest". He does lots of help. "In the second half they changed system and we wasted some minutes to adjust our high pressing.

isis-killer-beheading-video-story-top All Blacks expect huge test from resurgent Boks
Sep 12, 2017 - 00:48
Matches between the two sides are usually something to savour but the rivalry lost some of its edge previous year after the All Blacks won 41-13 at home and 57-15 in Durban.

isis-killer-beheading-video-story-top Pence: Flight 93 passengers might have save his life on 9/11
Sep 12, 2017 - 00:47
Secretary of the Interior Ryan Zinke are scheduled to deliver remarks at the Flight 93 National Memorial near Shanksville. Winslow was the first community to receive a piece of the World Trade Center, which stands at a memorial on Third Street.

isis-killer-beheading-video-story-top Two stranded manatees rescued after as Irma sucks water from Sarasota Bay
Sep 12, 2017 - 00:45
Several people posted photos Sunday of the mammals on Facebook , hoping rescue workers or wildlife officials would respond.

isis-killer-beheading-video-story-top UFC 215: Nobody Wins in Nunes vs. Shevchenko
Sep 12, 2017 - 00:45
The rematch was originally scheduled for UFC 213 on July 8, but was postponed when Nunes withdrew from the bout due to sinusitis. And when UFC commentator Joe Rogan mentioned the possibility of a third fight between the pair, Shevchenko was adamant.

isis-killer-beheading-video-story-top China cracks down on illegal crypto exchanges, Bitcoin drops by $500
Sep 12, 2017 - 00:43
At one point, exchanges in the country accounted for more than 90 per cent of the world's bitcoin transactions. BTC China, the second-largest exchange, has responded to the crackdown with its own statement.

isis-killer-beheading-video-story-top Trump offers to personally mediate dispute between Qatar, other Arab countries
Sep 12, 2017 - 00:40
Even Trump himself pointed this out in a tweet during the conflict's early days. He emphasized, "what is important is that we have stopped any military action".

isis-killer-beheading-video-story-top Huge construction cranes loom over Miami as Irma threatens
Sep 11, 2017 - 00:51
The city and surrounding areas were under a tornado watch Sunday. "AVOID THE AREA!" the city's tweet said. Hurricane Irma's powerful winds forced one crane in downtown Miami to snap in half Sunday morning.

Takeaways from the Steelers 21-18 win over the Browns
Sep 11, 2017 - 00:44
The Cleveland Browns are building for the future - and it's a good thing, too, because the present looks very grim indeed. The offseason saw the departure of long-time defensive stalwart Lawrence Timmons , the addition of first-round pick T.J.

isis-killer-beheading-video-story-top About 200 Gap, Banana Republic stores to close over next 3 years
Sep 10, 2017 - 15:39
Gap announced plans on Wednesday to close roughly 200 "underperforming" Gap and Banana Republic stores. The retailer also intends to open about 270 Old Navy and Athleta stores during the same period.

isis-killer-beheading-video-story-top Mexico braces itself for impact of Hurricane Katia
Sep 10, 2017 - 15:39
It is one of three active hurricanes in the Atlantic Ocean alongside Category Five Irma and Category One Jose . Forecasters said Hurricane Katia could have "major" strength when it makes landfall in Mexico.

isis-killer-beheading-video-story-top Fenerbahce sign Tottenham's Vincent Janssen
Sep 10, 2017 - 15:38
We only have 17 places [with eight home-grown players required in the selection]. "But he has a future like other players here". In his presser before Saturday's match away at Everton, Pochettino said that Janssen remains in his plans.

isis-killer-beheading-video-story-top Delta Flight Takes Off from Puerto Rico Airport During Hurricane Irma
Sep 10, 2017 - 15:37
Meanwhile, Flightradar24 also tweeted about the flight: "Where others have turned back, Delta #DL431 presses on". With Hurricane Irma hovering ominously off the coast of Puerto Rico, most flights were turning around.