The Census Bureau noted that the 0.8-point drop from 2015 to 2016 was the second consecutive annual decline in poverty. The decline also reflected the improving economy, which has put more Americans in jobs that offer health coverage.
That number fell by 2.5 million from 2015, driving the poverty rate down from 13.5% to 12.7%.
The study appeared to suggest that median household incomes have finally topped the previous record of about $58,670 set in 1999.
Meanwhile, the percentage of seniors living in poverty rose between 2005 and 2015, when 14.5 per cent of Canadians over 65 were living below the low-income measure, an increase from the 12 per cent recorded in 2005. It's the second consecutive year the USA has seen an increase. Mostly, the economic sky is still blue, with rising household incomes, falling poverty rates, and a swelling number of full-time, year-round jobs.
That's the highest median income ever recorded, though the Census Bureau cautions the changes they've made in their survey make historical comparisons very hard.
"But I think better across-the-board earnings growth would have made this year's income report unambiguously excellent news, much like we saw in 2015", she added. In 2007, before the financial crisis, the median income was $28,978. Those in the 90th percentile of earnings saw their real incomes grow roughly 10.6 percent. Asians, who have the highest median income of $81,500, did not see a statistically significant change in income.
No state-by-state data on median household was available Tuesday, but the Northeast, which includes CT, did have the highest median household income, at $64,390.
Construction, which has a median hourly wage of $26, has been the fastest-growing sector in terms of number of people being hired in Clark County, Bailey said. Income increased 2.6% for the bottom fifth of earners, 4.4% for the next lowest group and 2.8% for middle-income households. In half the country's opposite-sex couples, men earned more than women, compared with 71.3 per cent in 1985.
(3) Earnings among male workers still lag more than a percentage point behind their 2007 level.
In 2016, there was no significant change in America's income inequality, as measured by the Gini coefficient. And at the same time, the poverty rate was down in 2016 and fewer Americans were without health insurance. According to Meyer, income statistics have become increasingly inaccurate over time and consumption more accurately reflects well-being. The Census also calculates the "supplemental" poverty rate, a more comprehensive measure introduced in 2011 that takes into account taxation, how the cost of living varies across geographical areas, and government benefits. Polun is concerned about the effect of the state budget on poverty.
Of those, 1.2 million Canadians are children under 18 - including their 10-month-old daughter, Isabelle. Children represented 23.0 percent of the total population and 32.6 percent of the people in poverty.
The percentage of uninsured people in CT fell from 9.4 percent in 2013 to 4.9 percent in 2016. The number in poverty increased from 4.2 million to 4.6 million between 2015 and 2016.