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American household income finally topped 1999 peak last year

Submitted by Phil Heimerl on September 13, 2017 – 12:02 amNo Comment
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In a stark reminder of the damage done by the Great Recession and of the modest recovery that followed, the median American household only last year finally earned more than it did in 1999.

Incomes for a typical U.S. household, adjusted for inflation, rose 3.2 percent from 2015 to 2016 to $59,039, the Census Bureau said.

The median is the point at which half the households fall below and half are above.

Last year’s figure is slightly above the previous peak of $58,665, reached in 1999.  It is also the first time since the recession ended in 2009 that the typical household earned more than it did in 2007, when the recession began.

Trudi Renwick, the bureau’s assistant division chief, cautioned that the census in 2013 changed how it asks households about income, making historical comparisons less than precise.

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