Permanent musical accompaniment to this post: Party Like It’s 1999.
The median income for U.S. households is now slightly higher than what the median income was for households . . . in 1999. Americans are finally making more money than we were in 1999:
Adjusted for inflation, median household income rose to $59,039, which is up 3.2 percent from 2015 to 2016, according to Census Bureau statistics. The previous highest median income, the Associated Press reported, was $58,665, which was recorded in 1999.
It took 18 years, but the American median income is finally back to where it was before the 2001 recession.
The report covers the final year of the Obama administration, in which poverty rates also decreased from 13.5 percent to 12.7 percent. In real numbers, that’s a drop of 2.5 million people, according to USA Today. The number represent the first time since the recession that the rate wasn’t higher than levels prior to the recession.
In a year filled with debate on health care, the amount of Americans who have health insurance increased by 900,000 to 28.1 million, and the percentage of Americans not covered by insurance dropped from 9.1 percent to 8.8 percent.