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You are here News Economy U.S. Household Incomes Rose to Record in 2016 as Poverty Fell

U.S. Household Incomes Rose to Record in 2016 as Poverty Fell

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US middle class income highest ever in 2016The U.S. median household income rose to a record last year and the poverty rate fell, as steady economic growth helped improve the lot of more Americans, according to annual data from the U.S. Census Bureau released Tuesday.

The results show improving incomes helped to make a further dent in poverty in 2016, which was President Barack Obama’s final year in office.

Strength in the labor market likely played a role. The economy added 2.2 million jobs last year and the unemployment rate had declined to 4.7 percent by year end. It’s fallen further in recent months to a 16-year low.

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