Personal Finance

US median household income climbs to new high of $61,372

Key Points
  • Median household income rose 1.8 percent in 2017, according to the U.S. Census Bureau.
  • At the same time, the poverty rate fell for the third consecutive year.
  • The latest data boosts an already positive outlook for the U.S. middle class, with the number of job openings reaching a record high of almost 7 million in July.
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If you're a member of the middle class, chances are things are looking up.

Median household income reached a record $61,372 in 2017, up 1.8 percent from $60,309 in 2016.

This marks the third year in a row that median household income has gone up, according to the U.S. Census Bureau, which compiled the data.

Personal income and spending up 0.4% in June

The poverty rate also fell for the third consecutive year. In 2017, the official poverty rate was 12.3 percent, down from 12.7 percent in 2016.

The number of people who did not have health insurance – 28.5 million, or 8.8 percent, in 2017 – did not change significantly from 2016, according to the Census Bureau.

The numbers come as job openings hit a record high in July with almost 7 million openings.

If you are not sure if you are middle class or not, the Pew Research Center recently updated its interactive calculator to help you find out.

Measuring the Nation's Social and Economic Well-Being[Source: U.S. Census Bureau]