Wednesday, May 24, 2017

Median Household Income in April 2017 Finally Surpasses Median in January 2000

Median household income in April 2017 climbed to $59,361, reports Sentier Research—a significant 1.0 percent higher than the March 2017 median, after adjusting for inflation. This gain boosted median household income above the January 2000 level, finally. The last time median household income exceeded the January 2000 level was in December 2008.    

"Median annual household income has displayed a somewhat erratic pattern 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 April 2017 median was 11.4 percent higher than the August 2011 median of $53,265, the low point in Sentier's household income series. Sentier's figures are derived from the Census Bureau's monthly Current Population Survey.

Median household income in April 2017 was 4.0 percent higher than the median of June 2009, which marked the end of the Great Recession. It was 2.1 percent higher than the median of December 2007, the start of the Great Recession. The April 2017 median was 0.9 percent higher than the median of January 2000. The Household Income Index in April 2017 was 100.9 (January 2000 = 100.0).

Source: Sentier ResearchHousehold Income Trends: April 2017

No comments: