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Income in the United States

 

 
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Income in the United States
 
 
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Income in the United States is measured by the United States Department of Commerce
United States Department of Commerce

The United States Department of Commerce is the United States Cabinet department of the United States Federal government of the United States concerned with promoting economic growth....
 either by household
Household income in the United States

Household income is a measure of current private income commonly used by the United States government and private institutions. To measure the income of a household, the pre-tax money receipts of all residents over the age of 15 over a single year are combined....
 or individual
Personal income in the United States

Personal income is a measure utilized by the United States government, particularly the United States Department of Commerce, to determine the income of individuals....
. 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. This difference becomes very apparent when comparing the percentage of households with six figure incomes to that of individuals.






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Income in the United States is measured by the United States Department of Commerce
United States Department of Commerce

The United States Department of Commerce is the United States Cabinet department of the United States Federal government of the United States concerned with promoting economic growth....
 either by household
Household income in the United States

Household income is a measure of current private income commonly used by the United States government and private institutions. To measure the income of a household, the pre-tax money receipts of all residents over the age of 15 over a single year are combined....
 or individual
Personal income in the United States

Personal income is a measure utilized by the United States government, particularly the United States Department of Commerce, to determine the income of individuals....
. 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. 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, compared to slightly less than 6% of individuals. 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.

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. While wages for women have increased greatly, median earnings of male wage earners have remained stagnant since the late 1970s. 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.

Information regarding private income by household or individual can be found on the following articles:
  • Household income in the United States
    Household income in the United States

    Household income is a measure of current private income commonly used by the United States government and private institutions. To measure the income of a household, the pre-tax money receipts of all residents over the age of 15 over a single year are combined....
  • Personal income in the United States
    Personal income in the United States

    Personal income is a measure utilized by the United States government, particularly the United States Department of Commerce, to determine the income of individuals....
Other related articles are:
  • Affluence in the United States
    Affluence in the United States

    Affluence in the United States refers to an individual's or household's state of being in an economically favorable position in contrast to a given reference group....
  • Income inequality in the United States
    Income inequality in the United States

    Income inequality in the United States is the extent to which Income in the United States, most commonly measured by Household income in the United States or Personal income in the United States, is distributed in an uneven manner....


Income at a glance


See also

  • Economy of the United States
    Economy of the United States

    The economy of the United States is the List of countries by GDP in the world. Its gross domestic product was estimated as $14.2 trillion in 2008....
  • Salary
    Salary

    A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis....


External links


  • Historical relationship between the savings rate and the Fed rate - since 1954