Connect with us

During President Donald Trump’s first year in office, the median household income — a measure of the economic health of middle-class families — rose to its highest point ever.

The poverty rate also moved in the right direction, falling during 2017, according to data released Tuesday.

According to the Census Bureau, the median income — that point in the middle of all household incomes — reached $61,372, according to CNBC. The median income was $60,309 in 2016. America’s poverty rate fell to 12.3 percent, down from 12.7 percent in 2016. For 2017, that rate was $30,750 for a family of four.

The numbers, along with low unemployment figures, are part of the reason Trump has emphasized that the American economy is back.

“The Economy is soooo good, perhaps the best in our country’s history (remember, it’s the economy stupid!), that the Democrats are flailing & lying like CRAZY! Phony books, articles and T.V. ‘hits’ like no other pol has had to endure-and they are losing big. Very dishonest people!” Trump tweeted Monday.

In its reporting on the numbers, ABC News noted that the 2017 figure brings the median income roughly back to where it was in 2007, before the recession.

The Census Bureau suggested that the numbers mean more Americans are working, and of those who are working, more are working full-time.

“We’re continuing to see that shift from part-time, part-year work to year-round, full-time work,” said Trudi Renwick, an assistant division chief at the Census Bureau.

Income levels differed among different races.

The median income figure rose 2.6 percent for white households to $68,145, and 3.7 percent for Hispanic households to $50,486. For Asian households, with a median income of $81,331, and black households, with a median figure $40,258, there was no change from 2016 to 2017, USA Today reported.

The figures emerged as St. Louis Federal Reserve President James Bullard said there is no question in his mind that Trump has helped the economy grow.

“I definitely think that the political change had an influence. I think that this is a pro-business administration that wanted to pursue strategies that were focused on economic growth,” he said, according to Reuters.

Bullard said he expects another year of “quite strong growth by the standards of the post-crisis era” and growth could hit 3 percent. He later said he thought 2 percent growth was a sustainable rate.

“As a policymaker I have to assess how much of that is coming through productivity increases that could be sustained going forward, and if I think that’s what’s happening, then I would revise up my potential growth rate,” he said.

Advertisement
4 Comments

4 Comments

  1. mike Dar

    September 13, 2018 at 1:10 pm

    The biggest subtracted in Inflation adjusting actually was in Healthcare in 2017. What the media is completely fearful of and not saying a word about is the 2018 costs have suddenly changed direction for yearly… but won’t show till October, November when Healthcare plans are paid for/committed to for 2019.
    When Trump made the Individual mandate go away, so went the assured profits, prices are/will drop this fall to where the annual increased cost of the Obamacare plans show a very small increase, perhaps only 1%!
    This is going to make dramatic, any wage increases and net incomes and poverty dropping and the implications are dramatic as to effective policy from escaping government enforced commerce.
    This is the true fear the left has, this is why the left believes this 2018 cycle election matters so much… people will need the left ever less and see policy, not handouts are what citizens want.

  2. Carl J Bujan Jr

    September 13, 2018 at 3:56 pm

    We only have one person to thank and that is Preident Trump. You won’t here this on the lying media.

  3. N

    September 13, 2018 at 7:30 pm

    Keep up the great work President Trump! The best President ever! Not to mention the first lady she’s the best too!

  4. N

    September 13, 2018 at 7:34 pm

    ‪Under President Trump, best economy in decades, lowest unemployment numbers for Blacks and Hispanics EVER (women in 18years) Best president ever, President Trump!‬ Under Obama/Demoncrats the country was going to hell in hand basket!‬ Vote for President Trump’s team America! If you want the country to continue to prosper! Or cease to exists under demoncrat rule!

Leave a Reply

Your email address will not be published. Required fields are marked *

CF