Median household incomes just surged in the largest increase on record

Essex County Data Source U.S. Census Bureau

The data released Tuesday was widely anticipated because evidence from other sources suggested it was likely to show a strong increase in household incomes a year ago.

“The ratio of earnings for women working full-time, full-year to earnings for men working full-time, full-year increased to 80 per cent in 2015, the highest on record”, Mr Furman said.

Asian: $77,166, up from $74,382.

Sen. Charles SchumerCharles SchumerCornyn: Spending bill will include foreign investor visa program EU’s bite into Apple makes USA tax reform more appetizing Right seeks to kill the lame-duck MORE (D-N.Y.) called the income increase “excellent news” that should keep Democrats and Republicans focused on policies that raise middle-class wages.

Hispanic of any race: $45,148, up from $42,540.

The figures could have implications for this November’s presidential elections, given that median household income is now higher than in 2009 when President Obama took office, but MPR points out that the failure to reach that level until now gave rise to “insurgent” presidential hopefuls like GOP candidate Donald Trump and Bernie Sanders.

Going back to 1988, it’s clear that the increase from 2014 to 2015 was a substantial one, across racial and ethnic groups. That’s still 1.6 percent lower than in 2007, and while most US regions and racial groups saw a boost, there was a distinct divide between urban and rural areas.

Also notably, the number of households living in poverty dropped by 1.2 percentage points from 2014 to 2015 to 3.5 million.

A family of four is considered in poverty if annual income is below $24,036. The bureau also reported that the official poverty rate dipped just over 1% in the past year. Its traditional measurement pegs California’s poverty rate at 15 percent – roughly in the middle of the pack.

Jan Vink, a researcher with Cornell University’s Program on Applied Demographics, which is a coordinating agency with the State Data Center, speculated that a sampling error could explain Suffolk’s poverty rate increase. Those in the 10th percentile – poorer Americans – saw an increase of almost 8 percent from 2014 to 2015.

This story uses the definitions that are part of the U.S. Census Bureau’s report, “Income and Poverty in the United States: 2015”, by Bernadette D. Proctor, Jessica L. Semega, and Melissa A. Kollar. The number of people without health insurance declined to 29 million from 33 million over that period.

The largest increases in insurance coverage came from those buying private insurance as opposed to government plans.

The total is more than 100 percent because some people have more than one type of insurance.