US sees biggest jump in median income in almost 50 years

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According to the U.S. Census Bureau, median household income for Americans rose by 5.2 percent in 2015, the largest annual increase since the statistic was created back in 1967.

The increase was spread demographically as well, reaching all sectors of the American people.

“The real median income of Hispanic households increased by 6.1 percent between 2014 and 2015,” the Census reported. “Non-Hispanic white and black households also saw increases of 4.4 percent and 4.1 percent, respectively.”

The lowest increase in median household income occurred here in the South, with a still notable rise of 2.9 percent.

As the Wall Street Journal reported:

The largest increases in incomes were for households in the bottom fifth of all earners, while incomes declined slightly for households in the top fifth. The ratio between incomes for households at the 90th percentile and 10th percentile declined last year.

Among all full-time, year-round workers, women saw substantially larger earnings gains than men, posting an annual increase of 2.7%, compared with 1.5% for men. The increases narrowed the pay gap between women and men to the lowest level on record.”

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The official poverty rate — calculated before payment of any government benefits — fell by 1.2 percent, the biggest annual decline since 1999. Among black Americans, it fell by 2.1 percent. Thanks largely to ObamaCare, the percentage of Americans without health insurance fell to 9.1 percent, down from 10.3 percent.

Meanwhile, Donald Trump is complaining that “we have a very false economy” and that the jobless rate is much higher than the reported 4.9 percent, as if you’re not really seeing all those “Help Wanted” in storefronts. He’s been saying at least since January that the stock market was about to collapse, yet since then the Dow has jumped from 16,300 to over 18,000.

As recently as May, Trump was lauding Federal Reserve Chair Janet Yellen for keeping interest rates law, arguing to the Wall Street Journal that raising rates would be a disaster economically. Now he’s arguing that Yellen is a political hack who “should be ashamed” for keeping rates artificially low just to boost the Obama administration and Hillary Clinton.

Oh, and Oxford Analytics, the private economic forecasting firm, has issued a report warning that if Trump becomes president, his policies will cost the U.S. economy an estimated $1 trillion in lost growth by 2021.

 

Reader Comments 0

1102 comments
Kat Brag
Kat Brag

Comments show a denial of Obama's economic accomplishments again. Not everyone is doing well, you say? True. End Trickle Down Economics. Raise the minimum wage! Free public college for 80% of Americans. Raise taxes on the top 5%! Clinton supports all these policies!

Robert Tyler
Robert Tyler

If it wasn't for them Wall St bankers that makes tens of millions of dollars the average would be down 20% with cost of living adjustments

Ryan Mclean
Ryan Mclean

and the cost of living has jumped higher too

Matt Woodard
Matt Woodard

Interesting / coincidental timing since the median income fell and remained stagnant through seven years under Obama. Now, six weeks before a National election (with Hillary trailing in the polls), abracadabra the number jumps! Shocking. I'm shocked. Utterly shocked.

Kevin Shields
Kevin Shields

Here is the problem with that, and not saying from a political statement, just math. Yes, the median income has risen, but the average amount of workers has been cut dramatically.

Daniel McDowell
Daniel McDowell

i like how people are claiming it isnt true, simply because they dont want to believe it

Kellance Young
Kellance Young

this is not true, most blacc, white, & hispanics i know are working, 2 pay bills, & die, thats living in America and in many major cities the unemployment rate 4 blacc males is hovering around 30-50 percent, ask the residents of inner city Chicago

Kellance Young
Kellance Young

thats my alternate spelling bcuz no one is the color black, thats what u get in a crayola box

Johnny Knight
Johnny Knight

I bet you also think the TRUE Unemployment rate is around 5% too.

Caius
Caius

The latest from Trump:

"The "Child Care Affordability Plan" would allow parents to deduct child care expenses from their income taxes, guarantee six weeks of paid maternity leave,..."

Typical Democratic plan from a typical lifelong Democrat.

Latest Trump solution of the illegal alien "problem" turns out to be the same one practiced by Bush and Obama for the last 16 years. Bottom line, there is no illegal alien problem per Mr. Trump.


So, which Democrat are you going to vote for, Trump or Clinton?


breckenridge
breckenridge

America is getting less white a lot faster than the Republican Party. That trend threatens to be a problem over the long term for the GOP.

 

Since 1992, Pew estimates that the density of nonwhite voters in the Republican Party has doubled from 7 to 14 percent. In the Democratic Party, the increase has been a bit less than double — but it's substantially larger as a percentage of the party. The density of nonwhite voters in the Republican Party in 2016 is still only a little more than half what it was for the Democrats 24 years ago.

 

What's happened to the GOP is that it has increasingly become the domain of older white men without college degrees. (In 1992, 38 percent of Republicans were 50 or older; in 2016, the figure is 58 percent.)

The challenge is that younger white voters — the people who will be 65 by 2060 — are more likely to identify as Democrats than older whites.

https://www.washingtonpost.com/news/the-fix/wp/2016/09/13/the-republican-party-is-less-diverse-than-democrats-were-in-1992/

_GodlessHeathen_
_GodlessHeathen_

So if you need a gender adjustment, join the Army and the taxpayers will pick up the tab.

Suweet.

TetoLeo
TetoLeo

Sounds like a plan. Recruitment offices should pose this to recruits.

Maybe a 4-6 year enlistment, then surgery.

No switchbacks though, no room for schizophrenia treatment in the budget

RantNRave
RantNRave

 "You also have reports from Religious leaders that Trump was saved this summer and is a new Christian now.  When will the stupidity end??????"


@EyeWonder


As Breckenridge so eloquently stated:


"The fundy churches need to stop telling people that getting dunked in the river is a free ticket to paradise. That's called cheap grace,and it's not worth a diddly damn"

heeheeheeheeheehee

ByteMe
ByteMe

@RantNRave "Religious leaders" would be the ones that are doing what Christ was specifically against all those years ago.  "Salvation" for trinkets without having to do any of the real work.

Cupofjoe
Cupofjoe

@breckenridge @~moonbat_betty~


Interesting that someone would want the gov't or another group or person to "correct income inequality"  When I make more of the almight $ I look at what I did right, when I lose $ I look at what I did wrong.  I then try to do more of what works well and less of what doesn't work well.  I also do the same with my fully employed and benefited employees.  Anyways  have a great day changing the world one blog at a time!

breckenridge
breckenridge

TD I have to drive up to Canton this afternoon.  When I return I'll have a progress report for you on the new William Tecumseh Sherman Expressway, let you know how that's coming along.

Eye wonder
Eye wonder

 You also have reports from Religious leaders that Trump was saved this summer and is a new Christian now. 

When will the stupidity end??????

ByteMe
ByteMe

@Eye wonder November 9.  Mark it on your calendar.  The current stupidity ends and they'll embark on their newest stupidity.  Because a stupid's gotta stupid.

Cupofjoe
Cupofjoe

It was actually a coordinated move through Russia-  if you look at the "Trump national disgrace" you will note the extra letter in Powell's name which means in fact it wasn't Powell. The Trump campaign contrived the email knowing Russians would hack the server and that Powell has a negative view by the public- brillian- Later today you will read that Miley Cyrus also hates Trump-  


Anyway a little tired as I read both "It Takes a Village" and "Art of the Deal" backwards noting both had satanic references and HC provides clues on how the Clinton's had 32 people killed.  Trump provides clues on his/her gender change in the late 70's.


Amazing stuff!

TetoLeo
TetoLeo

Breckenridge,

If he does hate politics, someone in his cap should have got him to hate politics earlier if they wanted to win.

The new Trump 5.0 is doing much better lately than Trump 3.0 and 4.0

breckenridge
breckenridge

@TetoLeo 

My impression is that Trump now hates politics too.

It seemed like such a good idea at the time...

TetoLeo
TetoLeo

My impression is the man has grown to hate politics and all it entails.

He's became too honest, both too his own cakes and to the public to win an election.

breckenridge
breckenridge

@TetoLeo 

He is doing better. I think Roger Ailes, who is now advising Trump, has gotten him to focus.  At least for the time being.

TetoLeo
TetoLeo

Hell, if he would have"acted" this way from the beginning he may have "sold" me people on voting for him.

He would have still had enough outside the box thinking to have won the primary

JeffreyEav
JeffreyEav

Hope Hicks is not a good spokesperson. Don't know how she got hired.

ByteMe
ByteMe

@JeffreyEav She's willing to lie on camera at a moment's notice.  That's a good trait for her job.

td1234
td1234

Colin Powell questions Hillary's health months ago. I guess he was one of those right wing conspiracy theorist. 

DownInAlbany
DownInAlbany

@td1234 Based on the most recent leaked emails, he's not about to let Hillary throw him under the bus, either.

td1234
td1234

@DaltonbywayofBickley OK. No one would expect any different remarks about Trump since Powell was all in for Obama and is a globalist. 


The big news is about Hillary. 

DownInAlbany
DownInAlbany

@Eye wonder @td1234 It's rather difficult to answer a question containing so much hyperbole.  You're looking for the answer that you want us to give.  I'm not interested.

td1234
td1234

@Eye wonder She already would have been indicted if not for crooked Obama and the vast majority of the American public knows it as they have shown in the polls on the issue. 

Eye wonder
Eye wonder

@td1234 @Eye wonder

Thanks for proving your Faux Christian bona fides. Trump believes in a woman's right to choose and a gay's right to be gay. The gruber is strong with you, td.

td1234
td1234

@Eye wonder A non Christian calling another person a false Christian.


Priceless. 

td1234
td1234

@Eye wonder No Trump does not believe in abortion personally any longer and has said such in a few interviews. 


You also have reports from Religious leaders that Trump was saved this summer and is a new Christian now. 


You too can be saved right now by confessing that Jesus Christ is your personal Lord and Savior. 


Will you deny Christ this morning? 

ByteMe
ByteMe

@td1234 We continue to deny the Fake One-Note Christ you try to push out there.


FAKE.

FAKE.

FAKE.

ByteMe
ByteMe

@td1234Sure.  Heads you win, tails you win, right?  In your mind, she can't possibly be innocent, so you gotta find a way to wrap your mind around that by deceiving yourself.

Eye wonder
Eye wonder

@td1234

How do you, as an alleged conservative Christian and believer in the teachings of Jesus Christ, reconcile your supposed beliefs with your support for a guy who pi$$es on everything Mr. Christ stood and stands for?

Here's_to_Blue
Here's_to_Blue

@td1234 @Eye wonder Egad, TD. You do far, far more to innoculate unbelievers against Christianity than you are providing what you think is a witness for Christ.