Tuesday, September 12, 2017
U.S. Median Income Hit $59,039 in 2016, The Highest Ever Reported by Census Bureau
Middle-class household income set an all-time record last year, besting the previous high set in 1999, the U.S. Census Bureau reported Tuesday.
Median income is a key measure of the economic health of the U.S. middle class, which struggled during the slow economic growth of the early 2000s and was devastated by the 2008 financial crisis and subsequent recession.
The nation’s poverty rate fell to 12.7 percent in 2016, with 40.6 million people living in poverty, 2.5 million fewer than in 2015, the agency reported. . .