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Middle-class Americans made more money last year than ever before





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America’s middle class is booming.

Between 2015 and 2016, US median household income rose 3.2% from $57,230 to $59,039, according to a new report released by the U.S. Census Bureau on Tuesday.

It’s now the highest income year on record, beating the previous high of $58,655 in 1999 (all numbers are adjusted for inflation).

The US poverty rate simultaneously declined about 1% to 12.7%, returning to nearly the same level as in 2007, prior to the recession. In total, 2.5 million fewer people were in poverty in 2016 than in 2015.

Plus, almost every demographic group experienced a rise in incomes last year, read more >>>

Source:: BusinessInsider.Com

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