Median Household Income Rose 1.8% in 2017, Census Bureau Figures Show

Median Household Income Rose 1.8% in 2017, Census Bureau Figures Show

Middle-class income hit an all-time high of $61400 last year, U.S. Census says

The nation's median income - the midpoint where half makes more and half less - didn't start rising again until 2014.

Median household income increased to $61,372 a year ago, up 1.8% when adjusted for inflation.

Middle class income smashed expectations and reached an "all-time high" across the United States in 2017, according to new statistics released by the United States Census Bureau. The median household income also rose for the third year in a row, although the growth rate increased 3.2 percent in 2016 and 5.2 percent in 2015.

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FILE PHOTO: A sign advertises open jobs at an Embassy Suites hotel in Waltham, Massachusetts, U.S., December 13, 2017. "All the income figures have been adjusted for inflation and are reported in 2017 dollars", writes the Washington Post.

The increase in household income over the past year comes as the poverty rate in America has declined and more Americans are participating in the workforce.

"The equity markets and overall industry sentiment have picked up during President Trump's tenure, but he did inherit a relatively downward trend on the unemployment and income rates, among other metrics like poverty", said Chris Christopher, executive director of consumer economics at IHS Markit in St. Louis, Missouri. The U.S. economy has added jobs each month since October 2010, and the unemployment rate dropped below 4 percent in April.

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