The median U.S. household income was over $68,700 in 2019, an increase of 6.8% from 2018 and the highest on record, the Census Bureau reported Tuesday.
The number of people in poverty in 2019 was 34.0 million, which is 4.2 million fewer people than in 2018.
Household income includes employment bonuses, payments from public assistance, interest and dividends from investment, and Social Security, among other sources.
The official poverty rate in 2019 was 10.5%, a decrease from 11.8% in 2018. This is the fifth consecutive annual decline in the national poverty rate. Since 2014, the poverty rate has