Income, Poverty, and Health Insurance Coverage: 2016 September 2017 - PowerPoint PPT Presentation

Income, Poverty, and Health Insurance Coverage: 2016 September 2017 URL: http://www.census.gov/newsroom/press- kits/2017/income_poverty.html

Presenters Host Michael C. Cook, Sr. Chief, Public Information Office Presenter David G. Waddington Chief, Social, Economic, and Housing Statistics Division

Resources for Today’s Webinar Go to www.census.gov and click on the slider at the top to access – • Today’s Webinar Presentation • News Release and Supporting Tables • Links to the Reports and Other Reference Pages • Links to Fact Sheets 3

Highlights • Median household income for the nation was $59,000 in 2016, an increase in real terms of 3.2 percent from the 2015 median of $57,200. • The official poverty rate in 2016 was 12.7 percent, down 0.8 percentage points from 2015. In 2016, there were 40.6 million people in poverty, 2.5 million fewer than in 2015. • The Supplemental Poverty Measure (SPM) rate in 2016 was 14.0 percent, 0.5 percentage points lower than the SPM estimate for 2015. • The percentage of people without health insurance coverage for the entire calendar year was 8.8 percent, or 28.1 million people. This was a decrease of 0.3 percentage points from 2015. Erratum Note: The U.S. Census Bureau identified an error in the input of Supplemental Poverty Measure thresholds for renters used in the 2016 Supplemental Poverty Measure data products. The base threshold should have been $26,104 and was erroneously entered as $26,014. This error affected the Supplemental Poverty Measure poverty status for 109 unweighted observations. As a result, the overall Supplemental Poverty Measure poverty rate was understated by 0.06 percentage points—13.91 in published tables compared to 13.97 percent. Corrected tables, research files, and a revised report will be available on our website. Income rounded to nearest $100. Source: U.S. Census Bureau, Current Population Survey, 2016 and 2017 Annual Social and Economic Supplements. 4

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Real Median Household Income: 1967 to 2016 Income in thousands (2016 dollars) Recession 100 90 80 70 60 $59,000 $44,900 50 40 30 20 10 0 1967 1975 1980 1985 1990 1995 2000 2005 2010 2016 Note: The data for 2013 and beyond reflect the implementation of the redesigned income questions. Income rounded to nearest $100. 6 Source: U.S. Census Bureau, Current Population Survey, 1968 to 2017 Annual Social and Economic Supplements.

Real Median Household Income: 1967 to 2016 Recessions (Income in 2016 CPI-U-RS adjusted dollars) Peak month Year Trough month Year Year Median Income Year Median Income November 1948 October 1949 July 1953 May 1954 1967 44,895 1993 51,116 August 1957 April 1958 1968 46,830 1994 51,710 April 1960 February 1961 1969 48,571 1995 53,330 December 1969 November 1970 1970 48,194 1996 54,105 November 1973 March 1975 1971 47,725 1997 55,218 January 1980 July 1980 1972 49,769 1998 57,248 July 1981 November 1982 1973 50,774 1999 58,665 July 1990 March 1991 1974 49,166 2000 58,544 March 2001 November 2001 1975 47,879 2001 57,246 December 2007 June 2009 1976 48,673 2002 56,599 Source: National Bureau of Economic Research 1977 48,981 2003 56,528 Cambridge, MA 02138 2004 1 1978 50,877 56,332 www.nber.org 1979 50,780 2005 56,935 1980 49,131 2006 57,379 1981 48,350 2007 58,149 1982 48,219 2008 56,076 1983 47,881 2009 55,683 1984 49,335 2010 54,245 1985 50,258 2011 53,401 1986 52,068 2012 53,311 2013 2 1987 52,690 53,518 2013 3 1988 53,124 55,214 1989 54,042 2014 54,398 1990 53,350 2015 57,230 1991 51,791 2016 59,039 1992 51,390 1 The 2004 data have been revised to reflect a correction to the weights in the 2005 ASEC. 2 The 2014 CPS ASEC included redesigned questions for income and health insurance coverage. All of the approximately 98,000 addresses were eligible to receive the redesigned set of health insurance coverage questions. The redesigned income questions were implemented to a subsample of these 98,000 addresses using a probability split panel design. Approximately 68,000 addresses were eligible to receive a set of income questions similar to those used in the 2013 CPS ASEC and the remaining 30,000 addresses were eligible to receive the redesigned income questions. The source of these 2013 estimates is the portion of the CPS ASEC sample which received the income questions consistent with the 2013 CPS ASEC, approximately 68,000 addresses. 3 The source of these 2013 estimates is the portion of the CPS ASEC sample which received the redesigned income questions, approximately 30,000 addresses. Note: For changes in survey and data processing methodology, see footnotes in Appendix Table A-1 of the report, Income and Poverty in the United States: 2016, U.S. Census Bureau, Current Population Reports, P60-259. Source: U.S. Census Bureau, Current Population Survey, 1968 to 2017 Annual Social and Economic Supplements. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www2.census.gov/programs-surveys/cps/techdocs/cpsmar17.pdf>.

Real Median Household Income by Age of Householder: 2015 and 2016 Income in thousands (2016 dollars) 2015 2016 100 90 +3.2% 80 +3.0% No significant 70 difference +4.9% 60 50 No significant +13.9% difference 40 30 20 10 0 15 to 24 years 25 to 34 years 35 to 44 years 45 to 54 years 55 to 64 years 65 years and older Source: U.S. Census Bureau, Current Population Survey, 2016 and 2017 Annual Social and Economic 7 Supplements.

Real Median Household Income by Age of Householder: 2015 and 2016 (Income in 2016 CPI-U-RS adjusted dollars) Percentage Characteristic 2015 2016 change* (2016 less 2015) 15 to 24 years 36,564 41,655 *13.9 25 to 34 years 58,091 60,932 *4.9 35 to 44 years 72,319 74,481 *3.0 45 to 54 years 74,790 77,213 *3.2 55 to 64 years 63,596 65,239 2.6 65 years and older 39,001 39,823 2.1 *An asterisk preceding an estimate indicates change is statistically different from zero at the 90 percent confidence level. Source: U.S. Census Bureau, Current Population Survey, 2016 and 2017 Annual Social and Economic Supplements. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see <www2.census.gov/programs-surveys/cps/techdocs/cpsmar17.pdf>.

Real Median Household Income by Race and Hispanic Origin of Householder: 1967 to 2016 Income in thousands (2016 dollars) Recession 100 90 $81,400 80 Asian $65,200 70 $65,000 60 $53,000 Non ‐ Hispanic White 50 $47,700 Hispanic (any race) $39,400 40 $39,500 30 $27,200 Black 20 10 0 1967 1975 1980 1985 1990 1995 2000 2005 2010 2016 Note: The data for 2013 and beyond reflect the implementation of the redesigned income questions. Income rounded to nearest $100. 8 Source: U.S. Census Bureau, Current Population Survey, 1968 to 2017 Annual Social and Economic Supplements.