Real median household income in the United States hit $61,372 in 2017, equaling the nation’s all-time, according to the U.S. Census Bureau.
“Median household income was $61,372 in 2017, an increase in real terms of 1.8 percent from the 2016 median of $60,309,” the Census Bureau said. “This is the third consecutive annual increase in median household income.”
Table A-1 in the annual income and poverty tables released today by the Census Bureau showed median household income going back to 1967 in constant 2017 dollars. In this table, the $61,372 median household income for 2017 was the highest in any year.
The second highest median household income was $60,062 in 1999 (in constant 2017 dollars) and the third highest was $59,534 in 2007 (in constant 2017 dollars).
However, in a telephone press conference this morning the Census Bureau cautioned that the $61,372 median household income in 2017 was not a stand-alone all-time high for median household income in the United States. The bureau said, by contrast, that it was “statistically tied” for the highest median household income with the $60,062 income in 1999 and the $59,534 income in 2007.
The bureau explained that this was because the question that the Census Bureau asked people about their income was changed in 2014 and because of the margin of error in the data.
Median household income was $61,372 in 2017, an increase in real terms of 1.8 percent from the 2016 median of $60,309. This is the third consecutive annual increase in median household income.
The 2017 real median income of family households increased 1.4 percent from 2016 to $77,713. Real median income for married-couple households increased 1.6 percent between 2016 and 2017.
The real median income of households maintained by non-Hispanic Whites ($68,145) and Hispanics ($50,486) increased 2.6 percent and 3.7 percent, respectively, between 2016 and 2017. This is the third annual increase in median household income for these two groups. Among the race groups, households maintained by Asians had the highest median income in 2017, $81,331.
The real median income of households maintained by a native-born person increased 1.5 percent between 2016 and 2017, while the 2017 real median income of households maintained by a foreign-born person was not statistically different from 2016
The 2017 real median earnings of all male workers increased 3.0 percent from 2016 to $44,408, while real median earnings for their female counterparts ($31,610) saw no statistically significant change between 2016 and 2017.
In 2017, the real median earnings of men ($52,146) and women ($41,977) working full-time, year-round each decreased from their respective 2016 medians by 1.1 percent. The 2017 female-to-male earnings ratio was 0.805, not statistically different from the 2016 ratio.
The number of men and women working full-time, year-round increased by 1.4 million and 1.0 million, respectively, between 2016 and 2017.
The money income Gini index was 0.482 in 2017, not statistically different from 2016. Changes in money income inequality between 2016 and 2017 were not statistically significant as measured by the other indicators: the Theil index, the MLD, or the Atkinson measure.
The official poverty rate in 2017 was 12.3 percent, down 0.4 percentage points from 12.7 percent in 2016. This is the third consecutive annual decline in poverty. Since 2014, the poverty rate has fallen 2.5 percentage points, from 14.8 percent to 12.3 percent.
From 2016 to 2017 the number of people in poverty decreased for people in families; people living in the West; people living outside metropolitan statistical areas; all workers; workers who worked less than full-time, year-round; people with a disability; people with a high school diploma but no college degree; and people with some college but no degree.
In 2017, there were 39.7 million people in poverty, not statistically different from the number in poverty in 2016.
Between 2016 and 2017, the poverty rate for adults aged 18 to 64 declined 0.4 percentage points, from 11.6 percent to 11.2 percent, while poverty rates for individuals under age 18 and for people aged 65 and older were not statistically different from 2016.
Between 2016 and 2017, people with at least a bachelor’s degree were the only group to have an increase in the poverty rate or the number of people in poverty. Among this group, the poverty rate increased 0.3 percentage points and the number in poverty increased by 363,000 individuals between 2016 and 2017. Even with this increase, among educational attainment groups, people with at least a bachelor’s degree had the lowest poverty rates in 2017.
James E Windsor, Overpasses News Desk
September 12th, 2018