Incomes Up, Poverty Down Across The Country, New Census Data Says

The median household income for U.S. families grew last year to the highest levels since the 2008 recession, while the poverty rate and number of people without health insurance decreased, according to U.S. Census Bureau data released Tuesday.

Adjusted for inflation, the median household income in America increased by 5.2 percent from $53,718 in 2014 to $56,516 in 2015, the largest rate of growth since the Census Bureau started tracking that number in 1967 and the first significant increase in income since the economic downturn in 2008.

It is still lower than the $57,423 that the typical U.S. household made in 2007. The median household income is the number at which half of households make more and half of households make less per year.

The gains in income were distributed equally across income levels, too, and the rates were greatest in the lowest percentile. People in the 10th percentile of income — the lowest-earning group — saw a 7.9 percent increase in income, compared to 3.7 percent for the 95th percentile.

The uptick in income lifted more Americans out of poverty. According to the data, the poverty rate in America decreased to 10.4 percent in 2015 from 11.6 percent in 2014. The Census Bureau sets the poverty line each year based on age, family size and income.

The Census Bureau also reported Tuesday that the number of people without health insurance coverage dropped to 9.1 percent, down from 10.4 percent in 2014.

Image via Shutterstock