Census Bureau: Median Incomes Climbing for First Time Since 2007

Census Bureau: Median Incomes Climbing for First Time Since 2007

Census Bureau: Median Incomes Climbing for First Time Since 2007

American incomes rose significantly for a second year in a row in 2016, bouncing back after the lost decade that followed the last recession.

Experts at the Census Bureau published the data Tuesday, and it shows the median household income rose 3.2 percent between 2015 and 2016, hitting $59,039. 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.

Non-Hispanic, white households have a real median income of $65,041, while black households have a median of $39,490. Apparently it pays to be married, because married-couple households saw a 1.6% rise in the median household income to $87,057 in 2016.

It is also important to focus on the poverty rates in America.

The bureau reported 40.6 million people in the United States are considered living in poverty, or 2.5 million fewer than in 2015.

For poverty, bureau said the rates were comparable.

Most Californians have to pay at least $1,500 for a two-bedroom apartment
Most Californians have to pay at least $1,500 for a two-bedroom apartment. California Budget & Policy Center

The gap between the earnings of women and men narrowed slightly in 2016, with women now earning just more than 80 cents for every dollar men earn.

Among racial groups, Asian households had the highest median income in 2016, at $81,431. There are just seven states that now have 12% or more of their population uninsured, down from 31 states in 2013, ahead of the introduction of Barack Obama's Affordable Care Act. They earned just 3.1 percent of all income previous year, unchanged since 2013. Men who work full time earned $51,640 past year, or about 0.4 percent less than in 2015, the Census said.

Another measurement was on health insurance.

The percentage of Americans with health insurance also dropped in 2016, to 8.8% from 9.1% in 2015. The number of people without health insurance declined to 28.1 million from 29.0 million over the period.

On the other hand, this is better than the top.01 percent has done.

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