Key Points: The Census Bureau released data showing 2019 was a record year for declining poverty. The U.S. poverty rate in 2019 was 10.5%, down 1.3% from 11.8% in 2018. This represents 4.2 million Americans lifted out of poverty in 2019. The 10.5% poverty rate is the lowest rate on record, dating back to 1959.Read More
The Data that Drives Policy Lives Here.
KEY POINTS: The U.S. Census Bureau released data on income inequality and poverty in 2019. One metric that economists use to measure income inequality is the Gini Coefficient where a higher value indicates more inequality. The chart above compares the change in the Gini Coefficient between 2008 and 2016 against the change from 2016 to […]Read More
KEY POINTS: Real median income rose by 6.8%, or $4,400, to $68,700 in 2019. This was the largest increase in real median household income on record. Median household income grew by 5.9% for White Americans, 7.1% for Hispanic Americans, 7.9% for African Americans, and 10.6% for Asian Americans. Since 2019, median household income has risen […]Read More
Key Points: The U.S. Census Bureau released data showing 2019 was a record year for income gains and declining poverty. Median household income increased by 6.8% in 2019 to an all time record high. Percentage of people in poverty declined by 1.3% points which was the largest reduction in poverty in over 50 years.Read More
Analysis: The Gini index, a measure of income inequality, fell 0.7 percent in 2018. This indicates that the level of wealth inequality has declined. Economist Corner: The Gini index is a statistical measure of income inequality where 0 indicates all households having the same share of income and 1 indicates one household has all the […]Read More
The amount of money generated by the economy in 2018 is being distributed more among low and middle-income Americans. $34.71 billion has moved from the top quintile to the bottom two quintiles, measured using money income. Since December 2016, $69.4 billion of income has shifted from the top income quintile to the bottom, when adjusted […]Read More
The growing economic pie accrued more to low and moderate income Americans in 2018 compared to 2017. In fact, the lowest quintile of earners saw the largest income increases as a share of total income. The largest income increases as a share of total income were experienced among low and moderate income households even when […]Read More