Friday, March 31, 2017

Median Household Income Rises in February 2017

Median household income in February 2017 stood at $58,714, according to Sentier Research, about 1 percent higher than the January 2017 median after adjusting for inflation. While this is good news, the rise only boosts median household income back to where it was a year earlier in February 2016. 

"The monthly pattern for median annual household income has been marked by some sharp increases and decreases over the past several years," reports Sentier. "More broadly, there has been a general upward trend in median household income since the post-recession low point reached in August 2011." The February 2017 median was 10.1. percent higher than the August 2011 median of $53,330, the low point. Sentier's household income figures are derived from the Census Bureau's monthly Current Population Survey.

Median household income in February 2017 was 2.7 percent higher than the median of June 2009, which marked the end of the Great Recession. It was 0.8 percent higher than the median of December 2007, the start of the Great Recession. The February 2017 median was just 0.3 percent below the median of January 2000. The Household Income Index in February 2017 was 99.7 (January 2000 = 100.0).

Source: Sentier ResearchHousehold Income Trends: February 2017

No comments: