Median US Household Income Up for 2nd Straight Year; Tops '07 Level

However, the census report indicates to the references of deeper apprehension among American workers and highlights warnings to continue economic advancement. The U.S. economy added a total of 2 million jobs past year, ending with a 4.7% unemployment rate, down from 5% at the close of 2015. Most of the city's highest earning incomes radiated from this region in central Toronto. At that time, there was a jump of 3.2 percent in median income for those answering the new questions.

Meyer and Sullivan analyzed more than 50 years of data from the Bureau of Labor Statistics' Consumer Expenditure Survey for their report. That's the highest median income ever recorded, though the Census Bureau cautions the changes they've made in their survey make historical comparisons very hard. So, for example, the Economic Policy Institute, which examined Tuesday's national data, calculated that the USA median household income, adjusted for inflation, is still below levels in the 2000s.

Still, a wide swath of Americans have benefited from the strengthening economy.

The second straight annual increase raised the median household income to $59,039, from $57,230 in 2015.

Hunterdon remained the state's wealthiest county, with a median income that rose to $113,684.

The changes are not statistically significant, however, as the margins of error for the estimates overlap. The official poverty measure dropped to 12.7 percent, down from 13.5 percent last year, and 14.8 percent the year before that. That means more than 65,000 MA residents left poverty over the year.

However, poverty on a national level has still not recovered to pre-recession levels.

"It's good to see us heading in the right direction", Flax Wilt said. The lowest it has been in recent decades was 11.3% in 2000. The median income in the Toronto Census Metropolitan Area (CMA) largely stagnated, but the number of families earning six figures saw huge growth.

"So this is somewhat troubling news, and on top of being so many years of stagnant wage growth for men", she said.

The percentage of Americans without health insurance fell three tenths of a percent to 8.8 percent.

As a result, the share of all income going to middle-class Americans sank to the lowest on record, widening the wealth gap, notes Jared Bernstein, who was Vice President Biden's economic adviser and is a senior fellow for the Center on Budget and Policy Priorities. In particular, a number of programs that effectively make people less poor - like Medicaid, food stamps, and disability insurance - would likely drive up the poverty rate.

The percentage of Americans with health insurance also dropped in 2016, to 8.8% from 9.1% in 2015. According to Census data, the median earnings for full-time, year-round male workers was $52,000 - about the same as they made in 1972. The rest had Medicare, Medicaid or military coverage. However, the poverty rate declined by 1.5 percentage points for foreign-born persons, which was double the 0.7 percentage point decline for native-born persons.

Vanessa Coleman

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