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Estimates released today from the Current Population Survey Annual Social and Economic Supplement (CPS ASEC) show real median household income in 2015 was $56,516, a 5.2 percent increase from the 2014 median in real terms. This is the largest year-to-year increase since 1997 to 1998, when median household income increased 3.7 percent — making this the largest increase over the past 17 years.
Median household income in 2015 increased for many different demographic groups, including for Hispanic (6.1 percent), non-Hispanic white (4.4 percent) and black (4.1 percent) households. Although median income is highest in Asian households, their median was not statistically different between 2014 and 2015. Note that the increases (6.1 percent, 4.4 percent and 4.1 percent) are not statistically different from each other.
Households across the country experienced growth in median household income, with an increase of 6.4 percent in the West, 5.1 percent in the Midwest, 4.9 percent in the Northeast and 2.9 percent in the South. Note that when comparing these increases across regions, only the median income growth in the West is greater than in the South. The differences between the increases of the remaining regions were not statistically different.
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