Friday, November 08, 2013

Household Income Stable in September 2013

Median annual household income was stable in September 2013, according to the latest monthly update from Sentier Research. The September median of $52,529 was not statistically different from the August median, after adjusting for inflation.  

Sentier has detected "an uneven but upward trend" in income since August 2011, when median household income fell to its low point of $50,940 (in 2013 dollars). The September median was 3.1 percent higher than the August 2011 median, after adjusting for inflation. "We still have a significant amount of ground to make up to get back to where we were before," cautions Sentier's Gordon Green, "but at least we now appear to be heading in the right direction." 

Median household income in September 2013 was 4.0 percent below the median of June 2009, the end of the Great Recession. It was 5.7 percent lower than the median in December 2007, the start of the Great Recession. It was 6.8 percent lower than the median in January 2000. The Household Income Index for September 2013 was 93.2 (January 2000 = 100.0). The index compares median annual household income in a given month as a percent of its value in January 2000, after adjusting for inflation. 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 Series: September 2013

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