Economic Report: Household Incomes Rise; Fewer Families Live in Poverty
The White House released a report from the U.S. Census Bureau this week on the economic progress of American families. In this week’s “Economic Report,” Dr. Rick Harper, who leads the University of West Florida Center for Research and Economic Opportunity, spoke with WUWF 88.1-FM’s Sandra Averhart about the report and the growth in household income and how more families are coming out of the poverty level.
“For that (real median household income) to grow from 2014 to 2015 by 5.2 percent is just great news,” Harper said. “Of course, these data lag the real economy by a bit because the data are collected through the U.S. Census through its American Community Survey and like the federal statistical agencies, such as the Bureau of Economic Analysis or the Bureau of Labor Statistics, you can count on the reliability and validity of the U.S. Census figures. We have very reliable estimates that show that incomes for U.S. households rose at the fastest rate since we began tracking those data since 1967.”
To read or listen to the complete report, click here.