Thursday, September 05, 2013

Household Income Unchanged in July 2013

Median annual household income was stable in July 2013, according to the latest monthly update from Sentier Research. The July median of $52,113 was not statistically different from the June median, after adjusting for inflation. 

Real median annual household income has recovered somewhat from the low of $50,803 in August 2011, but has not changed significantly since December 2011. "The failure of an improved labor market to translate into higher levels of household income raises troubling questions about the types of jobs created over the past year and a half," comments Sentier's Gordon Green.

In July 2013, median household income was 4.5 percent below the median of June 2009, the end of the Great Recession. It was 6.2 percent lower than the median in December 2007, the start of the Great Recession. It was 7.3 percent lower than the median in January 2000. 

The Household Income Index for July 2013 was 92.7, the same as in December 2011. The index compares median annual household income in a given month as a percent of its value in January 2000, after adjusting for inflation (January 2000 = 100.0)An Excel spreadsheet of the entire household income time series is available from Sentier's web site for $25.00.

Source: Sentier Research, Household Income Trends: July 2013

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