Friday, January 03, 2020

Median Household Income Falls in November 2019

Median household income fell between October and November 2019, after adjusting for inflation. The $66,043 November median was 0.9 percent below the October 2019 median, according to Sentier Research. "The relatively large increase in inflation last month (0.3 percent), following a comparable increase the month before, had a negative effect on real median annual household income," reports Sentier. The Sentier estimates are derived from the Census Bureau's Current Population Survey and track the economic wellbeing of households on a monthly basis.

Despite the recent dip, "real median household income has continued to display an upward trend over the past 12 months (up 1.9 percent)," says Sentier's Gordon Green, "and especially since the low point reached in June 2011 (up 17.5 percent)." At the June 2011 low point—two years after the official end of the Great Recession— median household income was just $56,185.  

Sentier's Household Income Index for November 2019 was 106.2 (January 2000 = 100.0). In other words, the November 2019 median, after adjusting for inflation, was just 6.2 percent higher than the median of January 2000—almost two decades ago. To stay on top of these trends, look for the next monthly update from Sentier.

Source: Sentier ResearchHousehold Income Trends: November 2019

No comments: