Thursday, July 03, 2014

Household Income Stable in May 2014

Median household income was $53,385 in May 2014, according to Sentier Research, a statistically insignificant $240 more than in April after adjusting for inflation. The May 2014 median was 1.3 percent higher than the May 2013 figure, however, and 3.3 percent higher than the $51,663 of August 2011—the low point in Sentier's household income series. 

"The period since August 2011 has been marked by an uneven, but generally upward trend in the level of real median annual household income," reports Sentier. "Many of the month-to-month changes in median income during this period have not been statistically significant. However, the cumulative effect of the various month-to-month changes since August 2011 resulted in the income improvement." Sentier's median household income estimates are derived from the Census Bureau's monthly Current Population Survey.

Median household income in May 2014 was 3.7 percent below the median of June 2009, the end of the Great Recession. It was 5.4 percent below the median of December 2007, the start of the Great Recession. It was 6.6 percent below the median of January 2000. For more information on household income trends for the nation, states, and metropolitan areas, visit the Sentier Research web site.

Source: Sentier ResearchHousehold Income Trends: May 2014

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