U.S. poverty rate falls, median income rises in 2016 -Census

US reports rising income falling poverty in 2016

Meanwhile, incomes and health insurance coverage improved previous year, the bureau said in releasing results of its annual Current Population Survey.

The poverty rate fell previous year to 12.7 percent from 13.5 percent, Census said.

During that same period, the USA poverty rate decreased from 13.5 percent to 12.7 percent, meaning that 2.5 million fewer people were living in poverty in 2016 as compared to 2015.

The bureau said the 2016 poverty rate was not significantly higher than the 12.5 percent poverty rate in 2007, the year before the most recent USA recession.

The number of Americans who did not have health insurance for the entire year was 28.1 million, or about 8.8 percent, a decline of 0.3 point from 2015. P&S take even longer than the Census Bureau to make their calculations, so we'll have to wait and see.

For poverty, bureau said the rates were comparable.

The U.S. poverty rate varies depending on household. For the second year in a row, median income rose for households headed by Hispanics, non-Hispanic whites and blacks.

The findings come from two reports entitled, "Income and Poverty in the United States: 2016", and "Health Insurance Coverage in the United States: 2016". According to Piketty and Saez, their income peaked in 2000 and is down 4 percent through 2015 (with some spikes in between).

For the latest income and poverty data by state, the Census Bureau deferred to a more detailed survey being released later this week.

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