U.S. household income hits 1999 peak; poverty rate lowest since 2001

Keywords Economy / Wages

Income for the median U.S. household last year finally matched its previous peak set in 1999 after growing at the slowest annual pace since 2014.

Government figures show that after more than a decade of economic growth—the longest expansion on record—Americans are earning no more than they did two decades ago once inflation is taken into account.

The Census Bureau said median household income rose 0.9% in 2018, to an inflation-adjusted $63,179, from $62,626 in 2017.

The poverty rate fell to 11.8%, the lowest annual level since 2001. That improvement reflects increased income over the past several years for many workers in low-wage jobs.

At the same time, the proportion of Americans with health insurance fell slightly, to 91.5%, from 92.15% in 2017.

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