Economy

A look at the new data on income, poverty, health insurance

A look at the new data on income, poverty, health insuranceā€

While the median income was the highest ever recorded in a Census Bureau chart that dates to 1967, bureau officials said long-term historical comparisons should not be drawn because of changes in 2014 to the income question in the bureau's Current Population Survey.

According to the latest income data released by the U.S. Census, the state's median household income previous year was over $76,000, which is 30 percent higher than the national median.

The official poverty rate decreased by 0.8 percentage points between 2015 and 2016.

One in five Californians lives in poverty, the highest rate in the country, according to new data from the U.S. Census Bureau.

It is also important to focus on the poverty rates in America. In 2007, before the financial crisis, the median income was $28,978.

CT is the second-highest-earning state, with a median household income of $75,923.

- Nova Scotia and New Brunswick reported the highest percentage of children in low-income households at 22.2 per cent; Alberta had the lowest at 12.8 per cent. Tom Hirschl, sociologist and co-author of "Chasing the American Dream: Understanding What Shapes Our Fortunes", says that while the numbers today reflect an incremental improvement, middle-class and working-class Americans still feel insecure about their economic future. Second, most of the gains accrued to people traditionally on the margins as well as those living in urban areas.

More than 40.6 million people in the United States were living in poverty past year, 2.5 million fewer than in 2015 and 6.0 million fewer than in 2014, the Census said. African-American and Hispanic households saw stronger gains than non-Hispanic whites. "The likelihood of significant job growth from here is limited".

Economists, however, have been frustrated by the overall pace of wage growth, which has remained sluggish despite continuous job creation over a seven years.

American families finally earn more than they did in 1999

So far, no such boom can be found.

Poverty rates dropped in 24 states across the country, including MI.

Much of Trump's agenda remains pending, however, either awaiting action by his administration or bogged down in Congress.

"You need a job", McGlothin said. Poverty dwindled and the sufferings of the past decade's Great Recession were finally obliterated.

The more children a household has, the more likely it is to be low-income, according to the census data. It is also below the $51,938 earned in the 2000 Internet boom, or the $52,222 earned in the 2007 property bubble when large-scale legal and illegal immigration provided employers with millions of alternative imported workers. Older millennials (aged 25 to 34 years) also saw respectable growth to their median incomes. In fact, they changed so little the Census Bureau couldn't tell whether it was just statistical noise.

The sudden flatline followed a 31 percent rise in all men's median wages from 1960 to 1972. "There could be differences in the labour market participation of parents", said Heisz.

"It's good to see us heading in the right direction", Flax Wilt said.

Statistics Canada said 32 per cent of couples earned roughly the same amount, a jump from the 20.6 per cent recorded 30 years ago.

West credits Obama with bringing the economy back. By one alternative yardstick, known as the supplemental poverty measure, the percentage of people in poverty rose slightly in the state, from 15.1 percent to 15.3 percent, according to data the census released on Tuesday. "The goal should be to continue this progress".



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