U.S. reports rising income, falling poverty in 2016

U.S. reports rising income, falling poverty in 2016

U.S. reports rising income, falling poverty in 2016

However, according to Renwick, the Census Bureau cautions against making comparisons to income figures from before 2014 due to a change in how the data were collected.

There remains a gap between income for men and woman.

However, the census report indicates to the references of deeper apprehension among American workers and highlights warnings to continue economic advancement.

YDSTIE: Well, as you said, the median household income - that's the yearly income of households right in the middle of the income ladder - it rose significantly to $59,039 in 2016.

As a growing US economy continues to generate higher incomes for millions of American households, not everyone is benefiting from the ongoing recovery.

In seven of Canada's biggest cities, one in every five children was living in a low-income household in 2015.

Other measures of Americans' economic health improved. The nation's official poverty rate of 12.6% in 2016 generated 40.6 million people in poverty.

That number fell by 2.5 million from 2015, driving the poverty rate down from 13.5% to 12.7%. MA again claimed the lowest uninsured rate in the country.

The supplemental poverty measure factors in the government programs for low-income families and individuals, as well as housing costs, which are not included in the official poverty measure. And at the same time, the poverty rate was down in 2016 and fewer Americans were without health insurance. It is the lowest proportion on record.

The Census Bureau data paint a picture of widespread improvement in the final years of the Obama administration.

Robert Greenstein, president of the CBPP, argued that the agenda being pursued by President Donald Trump and congressional Republican leaders would reverse those gains.

Women's earnings also rose relative to men's for the first time in 10 years.

The chart shows the income of year-round, full-time workers, excluding part-workers or seasonal workers, or those who work on-and-off under contracts.

Meanwhile, incomes and health insurance coverage improved a year ago, the bureau said in releasing results of its annual Current Population Survey.

Growth in incomes isn't always tied to more people, Statistics Canada is quick to note.

And by race, Asian households had the highest median income, but black households had the largest percentage gain. For whites, the gain was 2 percent to $65,041.

The 2016 median was $59,039 in 2016, up from the 2015 median of $57,230 - a development showing continued recovery from the recession that occurred in the late 2000s, one local economist said.

"The solid economy is helping to close the racial gap", Bernstein says. Those who call themselves middle-class - even if they aren't - had more near and long term optimism about the U.S. economy, the markets, and obtaining the American Dream, according to the report from Northwestern Mutual. And the bottom 20% of earners took in just 3.1% of the total earnings in 2016, the same 3.1% as in 2015.

• Households with the highest median household incomes were in the Northeast ($64,390) and the West ($64,275), followed by the Midwest ($58,305) and the South ($53,861).

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