Thanks to the continuous improvement of the job market, American family income has increased significantly, and Asian families still have the highest income among all ethnic groups in the United States.
The U.S. Census Bureau's annual "Income, Poverty and Health Insurance Coverage and Supplemental Poverty Measure" report released on Tuesday showed that the median household income in the United States increased by 5.2% last year from the previous year to $56,500, exceeding the $53,700 in 2014. This is the first significant increase in U.S. median household income since 2007 and the largest increase since the U.S. Census Bureau began publishing such data in 1967.
But the median household income in 2015 was still below the all-time high of $57,909 in 1999 and 1.6% below the pre-financial crisis level in 2007.
As the U.S. economy slowly recovers after the financial crisis, the U.S. poverty rate has also declined. The report shows that the U.S. poverty rate dropped from 14.8% in 2014 to 13.5%, achieving the largest annual decline since 1999. The number of poor people decreased to 43.1 million.
The Office of Management and Budget's inflation-adjusted threshold for poverty in 2015 was an annual income of less than $24,257 for a family of four.
The strong growth of the job market in the past few years has enabled American families, especially low-income families, to bid farewell to the situation of flat or even continued decline in income. Household incomes in the bottom fifth of households increased the most, while those in the top fifth fell slightly.
This is a real across-the-board increase in median household income, said Trudi Renwick, assistant director of the Census Bureau.
When U.S. President Obama talked about this data at a campaign rally in support of Hillary Clinton on Tuesday, he said that this is remarkable. The income of Americans of all ages and all ethnic groups has increased and the poverty rate has decreased. In fact, the typical American household's annual income increased by $2,800, the largest annual gain ever.
However, the Reuters article said that analysts warn that poverty rates should be used with caution to measure long-term trends, because the poverty rate does not take into account non-cash benefits, such as food stamps and tax rebates.
Census Bureau data also shows that among all ethnic groups in the United States, Asian families still had the highest median family income in 2015, at $77,166. For 30 years, Asian families have been the ethnic group with the highest family income in the United States; followed by non-Hispanic white families, at $62,950; Hispanic family incomes at $45,148; and last among African Americans, with a median family income of $36,898.
However, among these ethnic groups, Hispanic family income increased the most, with an increase of 6.1% in 2015 compared with the previous year; followed by non-Hispanic whites at 4.4%; African-American family income also increased by 4.1%. On the contrary, the income growth of Asian families has basically remained unchanged.





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