US household income finally matches 1999 peak; poverty drops

WASHINGTON (AP) — Income for the median U.S. household last year finally matched its previous peak set in 1999 after growing at the slowest annual pace since 2014.

Government figures show that after more than a decade of economic growth — the longest expansion on record — Americans are earning no more than they did two decades ago once inflation is taken into account.

The Census Bureau says that median household income rose 0.9% in 2018 to an inflation-adjusted $63,179 from $62,626 in 2017.

The poverty rate fell to 11.8%, the lowest annual level since 2001. That improvement reflects increased income over the past several years for many workers in low-wage jobs.

At the same time, the proportion of Americans with health insurance fell to 91.5% from 92.15 in 2017.

Categories: National News