Friday, January 03, 2014

Household Income Stable in November 2013

Another month of income stability: median annual household income was unchanged in November 2013, according to the latest monthly update from Sentier Research. The November median of $52,163 was not statistically different from the October 2013 median, after adjusting for inflation. Sentier's median household income estimates come from its analysis of the Census Bureau's monthly Current Population Survey. They provide a preview of the official annual figure that will be released by the bureau next summer. 

Median household income has not changed significantly in the past year, reports Sentier. But the November 2013 median was 2.4 percent higher than than the $50,927 of August 2011—the low point in Sentier's household income series. "We still have a significant amount of ground to make up to get back to where we were before," says Sentier's Gordon Green, "but at least we have shown some improvement since the low point." 

Median household income in November 2013 was 4.6 percent below the median of June 2009, the end of the Great Recession. It was 6.4 percent lower than the median in December 2007, the start of the Great Recession. It was 7.5 percent lower than the January 2000 median.

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

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