Monday, December 09, 2013

Household Income Stable in October 2013

Median annual household income was stable in October 2013, according to the latest monthly update from Sentier Research. The October median of $52,299 was not statistically different from the September 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 $50,910 (in 2013 dollars). The October median was 2.7 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 have shown some improvement since the low point." 

Median household income in October 2013 was 4.4 percent below the median of June 2009, the end of the Great Recession. It was 6.1 percent lower than the median in December 2007, the start of the Great Recession. It was 7.2 percent lower than the January 2000 median.

Source: Sentier Research, Household Income Trends Series: October 2013

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