Median Household Income Was $51,017 in 2012
Earlier this week, the United States Census Bureau released their "Income, Poverty, and Health Insurance Coverage in the United States" report for 2012.
The 77 page report from the Census Bureau covers a wide range of different topics, but we'll be focusing on the median household income numbers in this article. The entire report can be viewed by clicking the link below.
According to the Census Bureau, median household income in the United States dropped for the fifth straight year in 2012. In total, 122,459,000 US household posted a median household income of $51,017 in inflation adjusted dollars.
Let's look at the median household income numbers since 2007:
2012 - $51,017
2011 - $51,100
2010 - $51,892
2009 - $53,285
2008 - $53,644
2007 - $55,627
The "Great Recession" started in December of 2007, and median household income has dropped in the country each year since.
The yearly drops are getting smaller (less than $100 from 2011 to 2012), but they are still drops. The "Great Recession" ended in mid-2009, but median household income in the United States still hasn't had a positive year since.
Given how many Americans are still out of work (or being forced to work part-time jobs when they want full-time work), it shouldn't surprise anyone to hear that median household income continues to sink in the country.
On an inflation-adjusted basis, median household income in the United States is down a little over $5,000 from its all-time high (1999). The all-time high was very nearly eclipsed in 2007 ($55,627), but it has been downhill ever since.
Source: Census.gov - Income, Poverty, and Health Insurance Coverage in the United States: 2012 (*.pdf)
Filed under: General Knowledge