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US-PERSONAL-INCOME-CENSUS-POVERTY
US household income hit new high in 2017, poverty rate almost static
NEW YORK, Sept 13, 2018 (BSS/AFP) – US median household income rose 1.8
percent in 2017 to $61,372, according to census data released Wednesday,
though the poverty rate fell only marginally.
The report followed earlier positive data on employment and consumer
confidence that point to an improving American economy near the 10th
anniversary of the 2008 Financial Crisis.
At the same time, the biggest year-over-year jumps came at the highest
income levels, the data show.
The official poverty rate decreased 0.4 percent from the prior year to
12.3 percent, representing 39.7 million people — though officials cautioned
this was not statistically different from the 2016 level.
Philip Alston, the UN Special Rapporteur on extreme poverty and human
rights said in a statement: “The current US administration should be ashamed
of the latest Census Bureau statistics on poverty which show almost no
improvement from last year.
“At a time of record employment, record stock market valuations, and huge
increases in wealth for the top earners, there are still… 28.5 million
people without health insurance in the United States.
“If this is the best one of the world’s richest countries can do at a time
of great prosperity, it is a disgrace.”
“These numbers are haunting us” added Reverend William Barber II, co-chair
of the Poor People’s Campaign. “We declare that the war on poverty is far
from over.”
The biggest year-over-year gains in household income came at the highest
levels, with the 95th percentile income at $237,034, up 3.0 percent from
2016.
By contrast, income rose just 1.1 percent at the 40th percentile to
$47,110 and 2.2 percent in the 10th percentile of $14,219, according to
Census data.
BSS/AFP/HR/0940