Income in the United States
This article appears to contradict the article Household income in the United States. (February 2016) |
Income in the United States is measured by the United States Department of Commerce either by household or individual. The differences between household and personal income is considerable since 42% of households, the majority of those in the top two quintiles with incomes exceeding $57,658, now have two income earners.[3]
This difference becomes very apparent when comparing the percentage of households with six figure incomes to that of individuals. In 2006, 17.3% of households had incomes exceeding $100,000,[1] compared to slightly less than 6% of individuals.[2] Overall the median household income was $46,326 in 2006 while the median personal income (including only those above the age of 25) was $32,140.[4]
Income inequality in the United States has increased considerably. Between 1979 and 2004, the mean after-tax income of the top percentile increased 167%, versus 69% for the top quintile overall, 29% for the fourth quintile, 21% for the middle quintile, 17% for the second quintile and 6% for the bottom quintile.[5] While wages for women have increased greatly, median earnings of male wage earners have remained stagnant since the late 1970s.[6][7] Household income, however, has risen due the increasing number of households with more than one income earner and women's increased presence in the labor force.[8] Half of the U.S. population lives in poverty or is low-income, according to U.S. Census data.[9] On the other hand, some members of the U. S. population have earned a considerable income: the top earner in 2011, hedge fund manager John Paulson, earned $4.9 billion, according to Business Insider.[10]
Income at a glance
Type of household | Race and Hispanic origin | Region | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
All households | Family households |
Nonfamily households |
Asian | Non-Hispanic White | Hispanic (of any race) |
Black | Northeast | Midwest | South | West |
$70,784 | $91,162 | $41,797 | $101,418 | $77,999 | $57,981 | $48,297 | $77,422 | $71,129 | $63,368 | $79,430 |
Age of Householder | Nativity of Householder | Metropolitan Statistical Area (MSA) Status | Educational Attainment of Householder* | ||||||
---|---|---|---|---|---|---|---|---|---|
Under 65 years | 65 years and older | Native-born | Foreign-born | Inside MSA | Outside MSA | No high school diploma | High school, no college | Some college | Bachelor's degree or higher |
$80,734 | $47,620 | $71,522 | $66,043 | $73,823 | $53,750 | $30,378 | $50,401 | $64,378 | $115,456 |
*Householders aged 25 and older. In 2021, the median household income for this group was $72,046. |
Total workers | Full-Time, year-round workers | ||||
---|---|---|---|---|---|
Both sexes | Male | Female | Both sexes | Male | Female |
$45,470 | $50,983 | $39,201 | $56,473 | $61,180 | $51,226 |
Measure | Overall | Less than 9th grade | Some High School | High school graduate | Some college | Associate's degree | Bachelor's degree or higher | Bachelor's degree | Master's degree | Professional degree | Doctorate degree |
---|---|---|---|---|---|---|---|---|---|---|---|
Persons, age 25+ w/ earnings* | $46,985 | $25,162 | $26,092 | $34,540 | $39,362 | $42,391 | $66,423 | $60,705 | $71,851 | $102,741 | $101,526 |
Male, age 25+ w/ earnings* | $52,298 | $30,089 | $31,097 | $40,852 | $47,706 | $52,450 | $80,192 | $71,666 | $91,141 | $126,584 | $121,956 |
Female, age 25+ w/ earnings* | $40,392 | $18,588 | $19,504 | $27,320 | $31,837 | $36,298 | $57,355 | $51,154 | $62,522 | $92,780 | $85,551 |
Persons, age 25+, employed full-time | $59,371 | $33,945 | $34,897 | $42,417 | $50,640 | $52,285 | $77,105 | $71,283 | $82,183 | $130,466 | $119,552 |
Household | $69,228 | $29,609 | $29,520 | $47,405 | $60,392 | $68,769 | $106,936 | $100,128 | $114,900 | $151,560 | $142,493 |
*Total work experience |
10th percentile | 20th percentile | 30th percentile | 40th percentile | 50th percentile | 60th percentile | 70th percentile | 80th percentile | 90th percentile | 95th percentile |
---|---|---|---|---|---|---|---|---|---|
≤ $15,700 | ≤ $28,000 | ≤ $40,500 | ≤ $55,000 | $70,800 | ≤ $89,700 | ≤ $113,200 | ≤ $149,100 | ≤ $212,100 | ≤ $286,300 |
Source: US Census Bureau, 2021; income statistics for the year 2021 |
See also
This article is part of a series on |
Income in the United States of America |
---|
United States portal |
- Compensation in the United States
- Economy of the United States
- Income inequality in the United States
- Socio-economic mobility in the United States
- Unemployment in the United States
- United States counties by per capita income
References
- ^ a b "US Census 2005 Economic Survey, income data". Archived from the original on 2006-06-30. Retrieved 2006-12-09.
{{cite web}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ a b "US Census Bureau, personal income distribution". Archived from the original on 2006-12-23. Retrieved 2006-12-09.
{{cite web}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ "US Census Bureau, number of income earners per quintile, 2006". Archived from the original on 2007-01-04. Retrieved 2006-12-23.
{{cite web}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ "US Census Bureau, median income of persons, age 25 or older". Archived from the original on 2007-03-19. Retrieved 2006-12-09.
{{cite web}}
: Unknown parameter|deadurl=
ignored (|url-status=
suggested) (help) - ^ "Aron-Dine, A. & Sherman, A. (January 23, 2007). New CBO Data Show Income Inequality Continues to Widen: After-tax-income for Top 1 Percent Rose by $146,000 in 2004". Retrieved 2007-11-24.
- ^ "U.S. Census Bureau. (1991). Table P-17. Years of School Completed--People 25 Years Old and Over by Median Income and Sex: 1958 to 1990". Archived from the original on 2007-11-02. Retrieved 2007-11-24.
- ^ "U.S. Census Bureau. (2006). Table P-16. Educational Attainment--People 25 Years Old and Over by Median Income and Sex: 1991 to 2005". Archived from the original on 2007-11-02. Retrieved 2007-11-24.
- ^ "U.S. Census Bureau. (2005). Table H-17. Households by Total Money Income, Race, and Hispanic Origin of Householder: 1967 to 2004". Archived from the original on 2007-11-15. Retrieved 2007-11-24.
- ^ Yen, Hope (December 15, 2011). "U.S. Poverty: Census Finds Nearly Half Of Americans Are Poor Or Low-Income". The Huffington Post. Retrieved August 28, 2014.
- ^ Wachtel, Katya (April 4, 2011). "The Top 25 Hedge Fund Earners In 2010". Business Insider. Retrieved August 28, 2014.
- ^ Semega, Jessica; Chen, Frances; Kollar, Melissa; Shrider, Emily A. "Income and Poverty in the United States: 2021" (PDF). US CENSUS BUREAU. Retrieved 19 September 2022.
- ^ "Personal Income: PINC-03". US CENSUS BUREAU. Retrieved 29 June 2022.
- ^ "Historical Income Tables: Households". US CENSUS BUREAU. Retrieved 29 June 2022.
External links
- Savings rate vs Fed rate from 1954 Historical relationship between the savings rate and the Fed rate - since 1954