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Wednesday, September 11, 2019

Survey Redesigns Make Comparisons to Years Before 2017 Difficult

The U.S. median household income was $63,179 in 2018, not statistically different than the previous year, according to U.S. Census Bureau statistics released today.

At first glance, it would appear that median income was higher than every year prior to 2017, surpassing the median income for 2007 ($60,985 in 2018 dollars) and 1999 ($61,526 in 2018 dollars).

In 2017, the median income was $62,626, not statistically different from 2018. So, making comparisons prior to 2017 requires caution, since recent estimates reflect changes implemented to the survey.

The 2018 income, poverty and health insurance statistics released today come from the Current Population Survey Annual Social and Economic Supplement, known as CPS ASEC.



Anonymous said...

That's all economic stats. If they don't like the numbers they change the formula.

Anonymous said...

All this time I thought the median income was $54000. My pension seems to have fallen behind by $8000.

Anonymous said...

Your pension will fall back because of cost of living increases. However, the way I see it - as you get older you need less material things. Unless of course you have an illness that requires more income. Let's face it - unless you win the lottery or cheat like Clinton's we have to adjust.