Census Bureau: Optimistic Outlook for Economy

Census Bureau: Optimistic Outlook for Economy

Median household income rose to $59,039 in 2016, a 3.2 percent increase from the previous year and the second consecutive year of healthy gains, the Census Bureau reported Tuesday.

The Atlantic provinces and Quebec had the lowest median incomes in the country in 2015, just as in 2005, although there were wide variations in Quebec. Last year, the U.S. Department of Health and Human Services defined poverty as a single person living off $11,880 or less annually; for a family of four, poverty would be $24,300 or less.

The signs of an improving New Jersey economy are evident in the rising incomes of some residents a year ago, but that good news is tempered by a continuing large wage disparity, according to the U.S. Census Bureau. The "median" means half the population earns more, half earns less. Without more wage gains, momentum could slow.

The increase can largely be attributed to lowered unemployment rates, an increase in job creation as the economy grows and a tightening of the labor market, McBride says.

The chart only shows income, but not the quality of goods in the stores, such as Starbucks coffee, cheap products imported from China, high-tech music players, improved autos or better health-care. "If we keep walking away and turning the other cheek and ignoring it, things will never change".

Income inequality, or the measure by which those are the top of the wealth scale are wealthier than those at the bottom, is still large in the United States. It found that Massachusetts' uninsured rate dropped in 2016, from 2.8 percent in 2015 to 2.5 percent a year ago.

On average, Canadians saw a steady rise in their income between 2005 and 2015, when the median national household income weighed in at $70,336, up 10.8 per cent from $63,457 a decade earlier, once adjusted for inflation.

Poverty rates declined past year in 24 states including NY, where the percentage of people living below the federal poverty line fell from 15.4 percent to 14.7 percent. That's 2.5 million fewer than in 2015.

On Thursday, the U.S. Census Bureau released its 2016 American Community Survey, an annual survey that measures various economic, social, and housing data among United States residents.

The percentage of uninsured people in CT fell from 9.4 percent in 2013 to 4.9 percent in 2016.

County Commissioner Melanie Flax Wilt has seen an influx of help wanted signs and more economic activity here over the last 12 months, she said.

"We also put it at the end of the questionnaire and people get exhausted", said Olson. When the new open enrollment period starts November 1, "we're going to have to spend a lot of time clarifying things and educating people". The job pays $16 an hour with ample opportunity for overtime pay, he said. "Oftentimes, you're going to have to outbid your rival in order to bring that qualified candidate on board".

Again, marginalized demographic categories experienced larger improvements than those who tend to be more economically secure. McGlothin hopes more young people will consider performing training for skilled jobs at the Springfield-Clark Career Technical Center and Clark State Community College.