Tuesday, September 13, 2016

The median household income was still lower than it was in 2007. Census Bureau: Poverty Rate Down, Median Incomes Up

NPR reports:
More Americans are making more money.

The U.S. Census Bureau released new numbers on Tuesday showing that, after a brutal economic recession and years of stagnation, real median household incomes rose from $53,718 in 2014 to $56,516 last year. That's a 5.2 percent rise — the first statistically significant increase since 2007.

But, as NPR's Pam Fessler notes, "the median household income was still lower than it was in 2007."
Here we are in 2016: still lower than 2007. The Obama legacy of Keynesian economic failure.