Median Household Income Increased in 2015

The U.S Census Bureau has announced on Tuesday that the median household income on the country has increased by 5.2% in 2015, and official poverty rate decreased 1.2% points. 
 
Median household income in the United States in 2015 was $56,516, an increase of 5.2% from the 2014 median income of $53,718. This is the first annual increase in median household income since 2007, the year before the financial recession. 
 
According to the Bureau, the official poverty rate in 2015 was 13.5 percent, with 43.1 million people in poverty, 3.5 million fewer than in 2014. 
 
The percentage of citizens in the U.S without health insurance coverage was 9.1% in 2015, down from 10.4% in 2014. The number of people without health insurance declined to 29 million from 33 million over the period.
 
Changes in income inequality between 2014 and 2015 were not statistically significant as measured by the shares of aggregate household income by quintiles. In other words, the slight improvement in household income is not affecting the state of income inequality.

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