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U.S. income growth stalled in 2018- Census

Credit: Reuters Studio
Published on September 10, 2019 - Duration: 01:19s

U.S. income growth stalled in 2018- Census

U.S. household income barely rose according to a government report that laid bare issues that could become central to the U.S. presidential election next year.

Freddie Joyner reports.

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U.S. income growth stalled in 2018- Census

(NATPOP)(ENGLISH) U.S. PRESIDENT DONALD TRUMP, SAYING: β€œWe're doing tremendously well.

Our consumers are rich, I gave a tremendous tax cut, and they're loaded up with money.” While U.S. President Donald Trump likes to say that the economy's success is reaching everyday Americans, a recent study from the the U.S. Census bureau tells a different story.

After increasing for three straight years, U.S. household income growth hit a wall in 2018.

The Census Bureau reported Tuesday that the median household earned $63,179 last year.

The Bureau said that figure was "not statistically different" from that of the previous year.

By race, real median incomes grew for Asian households, but were flat for white, black and Hispanic households.

Though Fewer people were classified as poor.

The poverty rate fell by half a percentage point to 11.8%.

That's the fourth consecutive year of decline.

(SOUNDBITE)(ENGLISH) U.S. PRESIDENT DONALD TRUMP, SAYING: "Let me tell you something... number one is we are doing very well as an economy." The data reflects a year in which U.S. economic growth was boosted by Trump’s tax overhaul and a rise in government spending, the effects of which have begun to wane.

Another troubling sign... The Census bureau found more Americans lacked health coverage in 2018.

The number of uninsured residents rose to 27.5 million.

That's the first time that's risen in roughly a decade.

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