Income in the United States


Income in the United States

Income in the United States is measured by the United States Department of Commerce either by household or individual. The differences between household and personal income is considerable since 42% of households, the majority of those in the top two quintiles with incomes exceeding $57,658, now have two income earners.cite web|url=http://pubdb3.census.gov/macro/032006/hhinc/new05_000.htm|title=US Census Bureau, number of income earners per quintile, 2006|accessdate=2006-12-23] This difference becomes very apparent when comparing the percentage of households with six figure incomes to that of individuals. In 2006, 17.3% of households had incomes exceeding $100,000,cite web|url=http://pubdb3.census.gov/macro/032005/hhinc/new06_000.htm|title=US Census 2005 Economic Survey, income data|accessdate=2006-12-09] compared to slightly less than 6% of individuals.cite web|url=http://pubdb3.census.gov/macro/032006/perinc/new01_001.htm|title=US Census Bureau, personal income distribution|accessdate=2006-12-09] Overall the median household income was $46,326 in 2006 while the median personal income (including only those above the age of 25) was $32,140.cite web|url=http://pubdb3.census.gov/macro/032006/perinc/new03_001.htm|title=US Census Bureau, median income of persons, age 25 or older|accessdate=2006-12-09]

Income inequality has increased considerably, with the mean after-tax income of the top percentile increasing 167%, versus 69% for the top quintile overall, 29% for the fourth quintile, 21% for the middle quintile, 17% for the second quintile and 6% for the bottom quintile.cite web|url=http://www.cbpp.org/1-23-07inc.htm|title=Aron-Dine, A. & Sherman, A. (January 23, 2007). New CBO Data Show Income Inequality Continues to Widen: After-tax-income for Top 1 Percent Rose by $146,000 in 2004.|accessdate=2007-11-24] While wages for women have increased greatly, median earnings of male wage earners have remained stagnant since the late 1970s.cite web|url=http://www.census.gov/hhes/www/income/histinc/p17.html|title=U.S. Census Bureau. (1991). Table P-17. Years of School Completed--People 25 Years Old and Over by Median Income and Sex: 1958 to 1990.|accessdate=2007-11-24] cite web|url=http://www.census.gov/hhes/www/income/histinc/p16.html|title=U.S. Census Bureau. (2006). Table P-16. Educational Attainment--People 25 Years Old and Over by Median Income and Sex: 1991 to 2005.|accessdate=2007-11-24] Household income, however, has risen due the increasing number of household with more than one income earners and women's increased presence in the labor force.cite web|url=http://www.census.gov/hhes/www/income/histinc/h17.html|title=U.S. Census Bureau. (2005). Table H-17. Households by Total Money Income, Race, and Hispanic Origin of Householder: 1967 to 2004.|accessdate=2007-11-24]

"Information regarding private income by household or individual can be found on the following articles:"
*Household income in the United States
*Personal income in the United States"Other related articles are:"
*Affluence in the United States
*Income inequality in the United States

Income at a glance

ee also

*Economy of the United States
*Salary

References

External links

* [http://www.intelligentguess.com/blog/2007/04/09/usa-relationship-between-fed-rate-and-savings-rate-data-from-1954/ Savings rate viz Fed rate from 1954] Historical relationship between the savings rate and the Fed rate - since 1954


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