Middle-Class Income Rose Above $61,000 for the First Time in 2017
Wednesday, September 12, 2018 3:37 PM
Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday, according to a story in the Washington Post
The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less.
Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999, although the Census Bureau cautions that median income last year was not statistically different from 1999 or 2007. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars.
Middle-class household income has been rising steadily in recent years as the economy has rebounded from the deep recession
and millions of Americans have found jobs again. The extra pay from having another person in the home working again or working additional hours is the largest factor contributing to rising income.
to read the full story from the Washington Post