Americans Income In 2016 Tops 1999 Peak

September 15, 2017

Dreamstime

Good news everyone! The median American household income last year finally topped what it was at its 1999 peak, according to the Census Bureau, which said earlier this week that incomes for a typical U.S. household, adjusted for inflation, rose 3.2% from 2015 to 2016 to $59,039. The previous peak was $58,665 in 1999. It was also the first time since the Great Recession ended in 2009 that the typical household earned more than it did in 2007, when the Recession began. In other good news, the poverty rate also fell last year to 12.7% from 13.5%, bringing it back to pre-Recession levels, and the percentage of Americans without health insurance fell to a record-low 8.8% in 2016 from 9.1 in 2015%. On the negative side, income inequality worsened last year, with average incomes among the wealthiest five percent rising 5.5% and average incomes for the poorest 20% of households increasing only 2.5%.

SOURCE: Business Insider

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