Higher minimum wages in many states and tougher competition among businesses to fill jobs have pushed up pay.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
In a long-awaited sign that middle-class Americans are finally seeing real economic gains, U.S. households got a raise last year after seven years of stagnant incomes.The median U.S. household's income rose 5.2 percent in 2015 to an inflation-adjusted level of $56,516, the Census Bureau said Tuesday. It is up 7.3 percent from 2012, when incomes fell to a 17-year low.The unemployment rate fell from 6.2 percent to 5.3 percent last year, and 2.4 million Americans found full-time, year-round jobs.Income for the poorest 10 percent of households jumped 7.9 percent last year, while for the wealthiest 10 percent, incomes rose just 2.9 percent.The proportion of Americans in poverty also fell sharply last year, to 13.5 percent from nearly 14.8 percent. Latino households recorded the biggest increase, up 6.1 percent, followed by a 4.4 percent gain for whites and 4.1 percent for blacks. Asians, who have the highest median income at $77,166, saw the smallest increase, at 3.7 percent.Americans are also likely benefiting from an increase in middle-income jobs.
FOLLOW THIS ARTICLE