Tuesday, September 11, 2012

Household Income Stable in July

Median household income held steady between June and July 2012 after adjusting for inflation, according to the latest monthly update from Sentier Research. The July median of $50,938 was $57 greater than the June median, but the gain was not statistically significant. 

"The relatively flat trend in real median annual household income since the beginning of the year is indicative of a struggling economy," says Gordon Green of Sentier Research. "As we have noted in our previous reports, we are watching this household income series closely for signs of any sustained directional movement." 

Tomorrow, the Census Bureau's will release official 2011 income, poverty, and health insurance statistics from the Current Population Survey--the same dataset used by Sentier to produce its monthly estimates. Sentier's findings are a good six months ahead of what the Census Bureau will release, but the Census Bureau's data will include demographic detail, as well as 2011 estimates of the earnings of men and women, health insurance coverage, and poverty rates.  

Sentier notes that median household income in July 2012 was 4.6 percent lower than median household income in June 2009--the end of the Great Recession. It was 7.1 percent lower than the median in December 2007, the start of the Great Recession. It was 8.0 percent lower than the median in January 2000.

The Household Income Index for July 2012 was 92.0 (January 2000 = 100.0).

Source: Sentier Research, Household Income Statistically Unchanged between June 2012 and July 2012

No comments: