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Economy

Median income hit record high in 2018 while poverty declined

By Nihal Krishan
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Median income hit record high in 2018 while poverty declined

Median U.S. household income reached $63,200 in 2018, the highest figure on record, new data released Tuesday by the Census Bureau revealed.

The official poverty rate also reached its lowest level since at least 2001, dropping to 11.8% of Americans, or 38.1 million people who are in poverty, according to the Census Bureau measurements. The number of people in poverty in 2018 decreased by 1.4 million people from 2017 levels.

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Census Bureau Poverty