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September 18, 2020

Census Data: US Household Income Hit All-Time High in 2019

And it would have hit a new record in 2020, if not for the Chinese Virus.

Karen Townsend at HotAir:

Median household income reached an all-time high, coming in at $68,700 in 2019. That is a 6.8% increase, from $64,324 in 2018, the largest one-year increase on record. The poverty rate fell to the lowest in recorded history, at 10.5%, a decline of 1.3%. The poverty level fell for the fifth consecutive year.

The specifics that Trump often refers to - the categories of specific demographics tell the tale, too. Real median incomes grew for black Americans (7.9%), Hispanic Americans (7.1%), and Asian Americans (10.6%). Remember when then-candidate Trump asked minority voters, "What the hell do you have to lose?" Any minority voter that took that challenge to heart has been vindicated, certainly economically speaking. Income levels for minorities reached record levels.

There were 2.2 million more people working at some point in 2019 compared with 2018 and 1.2 million more people working full-time year-round. Women workers drove the increase in full-time year-round workers.

More at the link.

Unexpectedly, first-time jobless claims fell again, a signal of a growing economy.

Furthermore, continuing jobless claims also fell by 900,000, as more people went back to work.

Even as the media continues poor-mouthing the recovery.

First-time claims for unemployment insurance totaled 860,000 last week.

That was down from the 893,000 a week earlier and better than Dow Jones estimates of 875,000.

Continuing claims fell by more than 900,000 to 12.63 million.

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posted by Ace at 12:04 PM

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