Under President Barack Obama, American saw the largest percentage increase in their incomes since records began in 1967 according to the Guardian. Across a whole host of indicators, Americans saw their economic prospects improve drastically under the Obama administration.
1.The Census Bureau reported on Tuesday that the median household income was $59,000 in 2016, a rise of 3.2% from 2015’s $56,500. In 2015, household incomes rose 5.2%, the largest increase since records began in 1967.
- The latest household income figure is the highest ever reported by the Census Bureau – eclipsing the peak of $58,665 reached in 1999. However, the Census Bureau warned against making direct comparisons because of changes in its methodology made in 2014.
3.The US poverty rate also fell to 12.7%, its lowest rate since 2007. Some 40.6 million Americans were living in poverty in 2016, down from 43.1 million in 2015.
4.The percentage of Americans without health insurance also dropped in 2016, to 8.8% from 9.1% in 2015.