New figures released by the Census Bureau Tuesday show median household income in 2016 was $59,039 -- more than 3 percent higher than in 2015. And because last year also saw income growth, "these are two consecutive years of strong income gains," the Census Bureau's Trudi Renwick told reporters. In fact, "that's the highest median income ever recorded, but the Census Bureau cautions that a big change in its survey in 2014 makes historic comparisons very difficult," NPR's John Ydstie reports.
US median household income rose 3.2% last year and poverty declined
The Census Bureau reported a gain of 3.2 percent in 2016 as the recovery delivered growing prosperity. Health coverage broadened and poverty declined.
The number of people covered by health insurance also ticked up. The Bureau says the income growth is driven by more people finding jobs, rather than increases in salaries.
The median U.S. household's income finally topped pre-recession levels last year and has reached an all-time high after years of sluggish growth. The Census Bureau said Tuesday that the median annual income, adjusted for inflation, ...