US sees stronger median household income, less poverty

Before you go, we thought you'd like these...
Before you go close icon



WASHINGTON, Sept 13 (Reuters) - The median U.S. household income rose last year, its first significant annual increase since 2007, and helped push down the number of people living in poverty to 53.1 million, federal government data released on Tuesday showed.

About 29 million people did not have health insurance in 2015, down from 33 million in the previous year, the Census Bureau said in its annual Income, Poverty and Health Insurance Coverage and Supplemental Poverty Measure report.

2016 issues: Health, Obamacare, Medicare, abortion

10 PHOTOS
2016 issues: Health, Obamacare opinions, Medicare, Abortion
See Gallery
2016 issues: Health, Obamacare opinions, Medicare, Abortion
MANHATTAN, NEW YORK CITY, UNITED STATES - 2015/08/22: Assembly of some 150 anti-abortion protesters behind barricade in front of Planned Parenthood. A coalition of anti-abortion protesters protested on Mott Street in Manhattan in front of Planned Parenthood. (Photo by Andy Katz/Pacific Press/LightRocket via Getty Images)
MANHATTAN, NEW YORK CITY, UNITED STATES - 2015/08/22: Protester with Baby Doe sign in front of Planned Parenthood. A coalition of anti-abortion protesters protested on Mott Street in Manhattan in front of Planned Parenthood. (Photo by Andy Katz/Pacific Press/LightRocket via Getty Images)
WASHINGTON, DC - JULY 28: Republican presidential candidate Dr. Ben Carson speaks at a anti-abortion rally opposing federal funding for Planned Parenthood in front of the U.S. Capitol July 28, 2015 in Washington, DC. Planned Parenthood faces mounting criticism amid the release of videos by a pro-life group and demands to vote in the Senate to stop funding. (Photo by Olivier Douliery/Getty Images)
WASHINGTON, DC - JULY 28: Republican presidential candidate, U.S. Sen. Ted Cruz (R-TX) speaks during a Anti-abortion rally opposing federal funding for Planned Parenthood in front of the U.S. Capitol July 28, 2015 in Washington, DC. Planned Parenthood faces mounting criticism amid the release of videos by a pro-life group and demands to vote in the Senate to stop funding. (Photo by Olivier Douliery/Getty Images)
UNITED STATES - JANUARY 22: Pro-choice protesters chant in front of the Supreme Court on Thursday, Jan. 22, 2015, the anniversary of the Roe v Wade abortion decision. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - FEBRUARY 5: Sen. Marco Rubio, R-Fla., testifies during the House Oversight and Government Reform Committee hearing on 'ObamaCare: Why the Need for an Insurance Company Bailout?' on Wednesday, Feb. 5, 2014. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - JUNE 25: Affordable Care Act supporters hold up signs outside the Supreme Court as they wait for the court's decision on Obamacare on Thursday, June 25, 2015. (Photo By Bill Clark/CQ Roll Call)
UNITED STATES - JUNE 25 - Supporters of the Affordable Care Act celebrate as the opinion for health care is reported outside of the Supreme Court in Washington,Thursday June 25, 2015. The Supreme Court on Thursday upheld the nationwide tax subsidies under President Barack Obama's health care overhaul, in a ruling that preserves health insurance for millions of Americans. (Photo By Al Drago/CQ Roll Call)
RICHMOND, CA - MARCH 31: Posters about Obamacare are posted on a window during a healthcare enrollment fair at the Bay Area Rescue Mission on March 31, 2014 in Richmond, California. SEIU-United Healthcare Workers West (SEIU-UHW) held the fair to help people sign up for free and low-cost health coverage through Medi-Cal or Covered California on the final day before the sign-up deadline. (Photo by Justin Sullivan/Getty Images)
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

The poverty rate fell to 13.5 percent from 14.8 percent in 2014, the report said.

Median income rose 5.2 percent to $56,500 from $53,700 in 2014, in large part due to increases in employment, Census officials told reporters on a conference call.

The poverty rate has continued to edge down in the wake of the 2007-2009 recession amid a tepid recovery. The latest drop is the largest annual percentage point decline since 1999, Censusofficials said.

Analysts, however, caution against using the poverty rate to assess the long-term trend because it does not account for non-cash benefits, including food stamps and refundable tax credits.

According to the Center on Budget and Policy Priorities, these non-cash benefits and tax credits provide far more assistance than they did when the official poverty rate was established in the 1960s, and have led to a substantial reduction in economic hardship.

Taking such programs into account, the Census Bureau put the 2015 so-called supplemental U.S. poverty rate at 14.3 percent, one percentage point lower than in 2014.

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big Man Finds 5 Abandoned 'Puppies' In His Garden - Then Quickly Realizes He Made A Big
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery A Holocaust Survivor Found These Old Photographs - And Solved A Decades-Old Mystery