America's middle class had its highest-earning year ever in 2016, the U.S. Census Bureau reported yesterday. Median household income in America was $59,039 last year. That surpassed the previous record of $58,655 set in 1999.
We're even doing a little better here in the Northeast: Median household incomes here are the highest in the nation, at $64,390. That's followed by the West ($64,275), the Midwest ($58,305) and the South ($53,861).
The Census Bureau also reported Tuesday that the poverty rate fell 12.7 percent in 2016 — meaning 2.5 million people escaped poverty. This is the first time since the recession that the poverty rate has returned to the basic 2007 level of 12.5 percent, a sign of how the U.S. economy has recovered from the Great Recession.
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