Median household income rises despite falling full-time earnings

Median household income rises despite falling full-time earnings

A year ago marked the first time ever that middle-class incomes were above $60,000.

The Census data showed that median household income increased in 2017 to $61,372, an increase of 1.8 percent after taking inflation into account, and is considered to be the highest on record. Households can vary in size from a single person to multiple adults and children residing under the same roof, but the average USA household has 2.6 people. "When you adjust for the change, median household income in previous years was just as high". The percentage of people without health-insurance coverage for the entire 2017 calendar year was 8.8%, or 28.5 million, not statistically different from 2016.

Middle-class income rose to a record level in 2017 as the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday. While that marks the third consecutive year of income gains, the rate of increase was considerably slower than in the last two years of the Obama administration.


"The equity markets and overall industry sentiment have picked up during President Trump's tenure, but he did inherit a relatively downward trend on the unemployment and income rates, among other metrics like poverty", said Chris Christopher, executive director of consumer economics at IHS Markit in St. Louis, Missouri.

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

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