Median household income rises despite falling full-time earnings

13 September, 2018, 18:38 | Author: Eric Barnett
  • Americans' incomes rise, but annual gains are slowing

The stunning report says the median USA household income reached $61,372 a year ago, meaning half of Americans are earning more than they did during the previous high reached in 1999.

On an inflation-adjusted basis, that was up 1.8% from 2016, a much slower increase than in the previous two years but still the highest point on record.

"Without adjusting for the change in the income questions, 2017 has the highest median household income on record since 1967", said Jonathan Rothbaum, chief of income statistics at the Census Bureau.

Household incomes have steadily risen as more American rejoin the workforce after losing jobs during the 2008 recession.

While the report showed rising household incomes and lower share of the population in poverty, it also highlighted the limits of the strengthening economy.

The median US household income rose for a third straight year in 2017 to the highest on record since 1967 by one measure, but the gap between white- and non-white households widened, government data showed on Wednesday.

The poverty rate dropped to 12.3 percent, marking a decrease in the poverty rate for the third year in a row, while the number of Americans working full-time jobs went up by 2.4 million in 2017.



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