hidden pixel

Personal Income In the United States Information

Personal income is an individual’s total earnings from wages, investment interest, and other sources. In the United States the most widely cited personal income statistics are the Bureau of Economic Analysis’s personal income and the Census Bureau’s per capita money income. The two statistics spring from different traditions of measurement—personal income from national economic accounts and money income from household surveys. BEA's statistics relate personal income to measures of production, including GDP, and is considered an indicator of consumer spending. Census's statistics provide detail on income distribution and demographics and are used to produce the nation's official poverty statistics.

Income patterns are evident on the basis of age, sex, race and educational characteristics. In 2005 roughly half of all those with graduate degrees were among the nation's top 15% of income earners. Among different demographics (sex, marital status, race, gender) for those over the age of 18, median personal income ranged from $3,317 for an unemployed, married Asian American female[2] to $55,935 for a full-time, year-round employed Asian American male.[3]

According to the US Census men tended to have higher income than women while Asians and Whites earned more than African Americans and Hispanics. The overall median personal income for all individuals over the age of 18 was $24,062[4] ($32,140 for those age 25 or above) in the year 2005.[5] The overall median income for all 155 million persons over the age of 15 who worked with earnings in 2005 was $28,567.[6]

As a reference point, the minimum wage rate in 2009 was $7.25 per hour or $15,080 for the 2080 hours in a typical work year. The minimum wage is a little more than the poverty level for the 1 person family unit and about 50% of the poverty level for a family of four (see Poverty in the United States). Annual wages of $30,160; $45,240; $75,400; $150,800 and $1.5M correspond to 2, 3, 5, 10 and 100 times minimum wage respectively.[7]

Contents

Income Statistics

Personal Income and Disposable Personal Income

BEAY’s personal income measures the income received by persons from participation in production, from government and business transfers, and from holding interest-bearing securities and corporate stocks. Personal income also includes income received by nonprofit institutions serving households, by private non-insured welfare funds, and by private trust funds. BEA also publishes disposable personal income, which measures the income available to households after paying federal and state and local government income taxes.

Income from production is generated both by the labor of individuals (for example, in the form of wages and salaries and of proprietors’ income) and by the capital that they own (in the form of rental income of persons). Income that is not earned from production in the current period—such as capital gains, which relate to changes in the price of assets over time—is excluded.

BEA’s monthly personal income estimates are one of several key macroeconomic indicators that the National Bureau of Economic Research considers when dating the business cycle.

Personal income and disposable personal income are provided both as aggregate and as per capita statistics. BEA produces monthly estimates of personal income for the nation, quarterly estimates of state personal income, and annual estimates of local-area personal income. More information is found on BEA's website.

Census Money Income

The Census Bureau collects income data on several major surveys, including the Annual Social and Economic Supplement (ASEC) of the Current Population Survey (CPS), the Survey of Income and Program Participation (SIPP), and the American Community Survey (ACS). The CPS is the source of the official national estimates of poverty and the most widely cited source of annual household income estimates for the United States.[8]

The CPS measure of money income is defined as the total pre-tax cash income received by people on a regular basis, excluding certain lump-sum payments and excluding capital gains.

The Census Bureau also produces alternative estimates of income and poverty based on broadened definitions of income that include many of these income components that are not included in money income.

The Census Bureau releases estimates of household money income as medians, percent distributions by income categories, and on a per capita basis. Estimates are available by demographic characteristics of householders and by the composition of households. More details on income concepts and sources are found on the Census Bureau’s website.

By educational attainment

Median personal income by educational attainment[9]
Measure Some High School High school graduate Some college Associate's degree Bachelor's degree or higher Bachelor's degree Master's degree Professional degree Doctorate degree
Persons, age 25+ w/ earnings $20,321 $26,505 $31,056 $35,009 $49,303 $43,143 $52,390 $82,473 $69,432
Male, age 25+ w/ earnings $24,192 $32,085 $39,150 $42,382 $60,493 $52,265 $67,123 $100,000 $78,324
Female, age 25+ w/ earnings $15,073 $21,117 $25,185 $29,510 $40,483 $36,532 $45,730 $66,055 $54,666
Persons, age 25+, employed full-time $25,039 $31,539 $37,135 $40,588 $56,078 $50,944 $61,273 $100,000 $79,401

Income distribution

Of those individuals with income who were older than 25 years of age, over 42% had incomes below $25,000 while the top 10% had incomes exceeding $82,500 a year. The distribution of income among individuals differs substantially from household incomes as 42% of all households had two or more income earners. As a result 20.5% of households have six figure incomes, even though only 6.24% of Americans had incomes exceeding $100,000. The following chart shows the income distribution among all 211,832,000 individuals aged 15 or higher as recorded by the United States Census Bureau.[10]

Income distribution among all those above age 25 and those between 25 and 64 with earnings.[10][11] NOTE: 25+ statistics will not add up exactly to 100% due to the unemployment rate
Income range Number of individuals (in thousands) Percent in group Percent Below Cumulative percentages
Under $2,500 12,945 6.11 0 less than $25k 47.39% less than $50k 75.40%
$2,500 to $4,999 7,408 3.50 6.11
$5,000 to $7,499 9,980 4.71 9.61
$7,500 to $9,999 11,496 5.43 14.32
$10,000 to $12,499 12,874 6.08 19.75
$12,500 to $14,999 9,107 4.30 25.83
$15,000 to $17,499 11,052 5.22 30.13
$17,500 to $19,999 7,749 3.66 35.35
$20,000 to $22,499 10,944 5.17 39.01
$22,500 to $24,999 6,798 3.21 44.18
$25,000 to $50,000
$25,000 to $27,499 9,192 4.34 47.39 $25k-$50k 28.01%
$27,500 to $29,999 5,749 2.71 51.73
$30,000 to $32,499 9,835 4.64 54.44
$32,500 to $34,999 4,243 2.00 59.08
$35,000 to $37,499 7,917 3.74 61.08
$37,500 to $39,999 3,978 1.88 64.82
$40,000 to $42,499 7,568 3.57 66.70
$42,500 to $44,999 2,879 1.36 70.27
$45,000 to $47,499 5,106 2.41 71.63
$47,500 to $49,999 2,888 1.36 74.04
$50,000 to $75,000
$50,000 to $52,499 6,569 3.10 75.40 $50k-$75k 13.17% $50k-$100k 18.36%
$52,500 to $54,999 2,394 1.13 78.50
$55,000 to $57,499 3,360 1.59 79.63
$57,500 to $59,999 1,776 0.84 81.22
$60,000 to $62,499 4,345 2.05 82.06
$62,500 to $64,999 1,576 0.74 84.11
$65,000 to $67,499 2,602 1.23 84.85
$67,500 to $69,999 1,307 0.62 86.08
$70,000 to $72,499 2,857 1.35 86.70
$72,500 to $74,999 1,104 0.52 88.05
$75,000 to $100,000
$75,000 to $77,499 2,166 1.02 88.57 $75k-$100k 5.19%
$77,500 to $79,999 973 0.46 89.59
$80,000 to $82,499 2,135 1.01 90.05
$82,500 to $84,999 751 0.35 91.06
$85,000 to $87,499 1,193 0.56 91.41
$87,500 to $89,999 613 0.29 91.97
$90,000 to $92,499 1,385 0.65 92.26
$92,500 to $94,999 525 0.25 92.91
$95,000 to $97,499 830 0.39 93.16
$97,500 to $99,999 448 0.21 93.55
$100,000 or more
$100,000 or more 13,215 6.24 93.76

SOURCE: US Census Bureau, 2008[12]

Over time - by Race & Sex

This chart is median income of 15 year olds or older, who have non-zero income.[13] Amounts are shown in nominal dollars and in real dollars in parentheses, 2004 dollars.

1950 1960 1970 1980 1990 2000 2004
Overall Male $2,570 ($17,076) $4,080 ($22,051) $6,670 ($28,100) $12,530 ($27,206) $20,293 ($28,439) $28,343 ($31,089) $30,513
Female $953 ($6,333) $1,261 ($6,815) $2,237 ($9,424) $4,920 ($10,683) $10,070 ($14,112) $16,063 ($17,619) $17,629
White/European American Male $2,709 ($18,001) $4,296 ($23,219) $7,011 ($30,536) $13,328 ($28,939) $21,170 ($29,668) $29,797 ($32,684) $31,335
Female $1,060 ($7,044) $1,352 ($7,307) $2,266 ($9,546) $4,947 ($10,741) $10,317 ($14,459) $16,079 ($17,637) $17,648
Black/African American Male $1,471 ($9,775) $2,260 ($12,215) $4,157 ($17,513) $8,009 ($17,390) $12,868 ($18,034) $21,343 ($23,411) $22,740
Female $474 ($3,150) $837 ($4,524) $2,063 ($8,691) $4,580 ($9,944) $8,328 ($11,671) $15,581 ($17,420) $18,379
Asian Male NA NA NA NA $19,394 ($27,179) $30,833 ($33,820) $32,419
Female NA NA NA NA $11,086 ($15,536) $17,356 ($19,038) $20,618

Race

Personal income varied significantly with an individual's racial characteristics with racial discrepancies having remained largely stagnant since 1996. Overall, Asian Americans enjoyed higher median personal incomes than any other racial demographic.[14] The only exception was among the holders of graduate degrees who consititute 8.9% of the population. Among those with a Master's, Professional or Doctorate degree those who identified as White had the highest median individual income. Asian Americans had a median income roughly ten percent higher than that of Whites. This racial income gap was relatively small.[14][15]

Those identifying as Hispanic or Latino (who may have been of any "race") had the lowest overall median personal income, earning 28.51% less than Whites[15][16] and 35% less than Asian Americans.[14] The second largest racial or ethnic gap was between Whites and African Americans with the former earning roughly 22% more than the latter. Thus one can observe a significant discrepancy with the median income of Asians and Whites and that of African Americans and Hispanics.[17]

Overall the race gap between African Americans and Whites has remained roughly equal between both races over the past decade.[15][18] Both races saw a gain in median income between 1996 and 2006, with the income growth among African Americans slightly outpacing that of Whites. In 1996 the median income for Whites was $5,957 (31%) higher than for Blacks. In 2006 the gap in median incomes was nearly identical with the median income for Whites being $5,929 (22%) higher than that for African Americans. While the gap remains numerically unchanged, the percentage difference between the two races has decreased as a result of mutual increases in median personal income.[15][18] Measuring income by per capita is another way to look at personal earnings by race. Unlike median statistics, per capita statistics are affected by extremely high and low incomes. According to the U.S Census Bureau "The per capita income for the overall population in 2008 was $26,964; for non-Hispanic Whites, it was $31,313; for Blacks, it was $18,406; for Asians, it was $30,292; and for Hispanics, it was $15,674".[19]

Race Overall Median High School Some College College Graduate Bachelor's Degree Master's Degree Doctorate Degree
Total population All, age 25+ 32,140 26,505 31,054 49,303 43,143 52,390 70,853
Full-time workers, age 25-64 39,509 31,610 37,150 56,027 50,959 61,324 79,292
White alone All, age 25+ 33,030 27,311 31,564 49,972 43,833 52,318 85,658
Full-time workers, age 25-64 40,422 32,427 38,481 56,903 51,543 61,441 77,906
Asian alone All, age 25+ 36,152 25,285 29,982 51,481 42,466 61,452 69,653
Full-time workers, age 25-64 42,109 27,041 33,120 60,532 51,040 71,316 91,430
African American All, age 25+ 27,101 22,379 27,648 44,534 41,572 48,266 61,894
Full-time workers, age 25-64 32,021 26,230 32,392 47,758 45,505 52,858 N/A
Hispanic or Latino All, age 25+ 23,613 22,941 28,698 41,596 37,819 50,901 67,274
Full-time workers, age 25-64 27,266 26,461 33,120 46,594 41,831 53,880 N/A

SOURCE: US Census Bureau, 2006[20]

See also

Wikimedia Commons has media related to: Income distribution in the United States

References

  1. ^ "US Census Bureau, 25+, 2005". http://pubdb3.census.gov/macro/032006/perinc/new03_000.htm. Retrieved 2006-12-08.
  2. ^ "US Census Bureau, females, 18 or older, unemployed, personal income, 2005". http://pubdb3.census.gov/macro/032006/perinc/new02_067.htm. Retrieved 2006-12-08.
  3. ^ "US Census Bureau, male, 18 or older, employed full-time year round, 2005". http://pubdb3.census.gov/macro/032006/perinc/new02_037.htm. Retrieved 2006-12-08.
  4. ^ "US Census Bureau, 18+ age, 2005". http://pubdb3.census.gov/macro/032006/perinc/new02_001.htm. Retrieved 2006-12-08.
  5. ^ "US Census Bureau, Personal income for all sexes, races in 2005". http://pubdb3.census.gov/macro/032006/perinc/new03_001.htm. Retrieved 2006-11-19.
  6. ^ "US Census Bureau, median income for total labor force". http://pubdb3.census.gov/macro/032006/perinc/new05_001.htm. Retrieved 2006-12-08.
  7. ^ "US DOL, Minimum Wage". http://www.dol.gov/whd/minwage/america.htm. Retrieved 2010-06-15.
  8. ^ "US Census Bureau, Poverty". http://www.census.gov/hhes/www/poverty/poverty.html. Retrieved 2011-06-15.
  9. ^ Source: US Census Bureau, 2006; income statistics for the year 2005
  10. ^ a b "US Census Bureau, distribution of personal income, 2006". http://pubdb3.census.gov/macro/032006/perinc/new01_001.htm. Retrieved 2006-12-09.
  11. ^ "US Census Bureau, income distribution, ages 25-64, 2006". http://pubdb3.census.gov/macro/032006/perinc/new03_019.htm. Retrieved 2006-12-09.
  12. ^ "US Census Bureau, distribution of personal income, 2008". http://www.census.gov/hhes/www/cpstables/032009/perinc/new01_001.htm. Retrieved 2009-10-11.
  13. ^ Taken from World Almanac (in turn sourced to US Census Bureau)
  14. ^ a b c "US Census Bureau, Personal income for Asian Americans, age 25+, 2006". http://pubdb3.census.gov/macro/032006/perinc/new03_008.htm. Retrieved 2006-12-17.
  15. ^ a b c d "US Census Bureau, Personal income for Whites, age 25+, 2006". http://pubdb3.census.gov/macro/032006/perinc/new03_003.htm. Retrieved 2006-12-17.
  16. ^ "US Census Bureau, Personal income for Hispanic Americans, age 25+, 2006". http://pubdb3.census.gov/macro/032006/perinc/new03_009.htm. Retrieved 2006-12-17.
  17. ^ "US Census Bureau, Personal income for African Americans, age 25+, 2006". http://pubdb3.census.gov/macro/032006/perinc/new03_006.htm. Retrieved 2006-12-17.
  18. ^ a b "US Census Bureau, Personal income by race, age 25+, 1996". http://pubdb3.census.gov/macro/031996/perinc/06_001.htm. Retrieved 2006-12-17.
  19. ^ "Income, Poverty, and Health Insurance Coverage in the United States: 2008". U.S. Census Bureau. 2009. http://www.census.gov/prod/2009pubs/p60-236.pdf. .
  20. ^ a b "US Census Bureau, Personal income, age 25+, 2006 statistics forum". http://pubdb3.census.gov/macro/032006/perinc/new03_000.htm. Retrieved 2006-12-17.

External links

Life in the United States
Demographics of the United States
Demographic history
Economic and social

Affluence · Educational attainment · Emigration · Homeownership · Household income · Immigration · Income inequality · Language · LGBT · Middle classes · Personal income · Poverty · Social class · Unemployment by state · Wealth
Religion

Prominent examples: Buddhists · Christians (Catholics, , etc.) · Hindus · Jews · Muslims · Neopagans · Non-religious · Sikhs
Race and ethnicity

People of the United States/Americans · Ethnic groups in the United States · American people by ethnic or national origin · History of the United States by ethnic group · American culture by ethnicity · Race and ethnicity in the Census · Maps of American ancestries · 2010 Census · in the Equal Employment Opportunity Commission · Racism

White Americans (European Americans, Non-Hispanic Whites, White Hispanic and Latino Americans, Arab Americans, English Americans, German Americans, Irish Americans, Italian Americans, Jewish Americans, Polish Americans, etc.) · Black Americans (African Americans, Black Hispanic and Latino Americans, African immigrants and descendants, Afro-Caribbean/West Indian Americans, etc.) · Asian Americans (Chinese Americans, Filipino Americans, Asian Hispanic and Latino Americans, Indian Americans, Vietnamese Americans, Japanese Americans, Pakistani Americans, etc.) · Hispanic and Latino Americans (Mexican Americans, Puerto Ricans (Stateside), Cuban Americans, Colombian Americans, etc.) · Multiracial Americans · Native Americans and Alaska Natives · Oceanic American (Pacific Islander Americans (Chamorro Americans, Native Hawaiians, Samoan Americans, etc.), Euro Oceanic American (Australian American, etc))
United States (outline)
History
Timeline Pre-Columbian era · Colonial era (Thirteen Colonies · Colonial American military history) · American Revolution (War) · Federalist Era · War of 1812 · Territorial acquisitions · Territorial evolution · Mexican–American War · Civil War · Reconstruction era · Indian Wars · Gilded Age · African-American Civil Rights Movement (1896–1954) · Spanish–American War · Imperialism · World War I · Roaring Twenties · Great Depression · World War II (Home front) · Cold War · Korean War · Space Race · African-American Civil Rights Movement (1955–1968) · Feminist Movement · Vietnam War · Post-Cold War (1991–present) · War on Terror (War in Afghanistan · Iraq War) · Timeline of modern American conservatism
Topics Demographic · Discoveries · Economic (Debt Ceiling) · Inventions (before 1890 · 1890–1945 · 1946–1991 · after 1991) · Military · Postal · Technological and industrial
Federal government
Law Constitution · Federalism · Preemption · Separation of powers Bill of Rights · Civil liberties Code of Federal Regulations Federal Reporter United States Code United States Reports Legislature - Congress Senate · Vice President · President pro tem House of Representatives · Speaker Judiciary - Supreme Court Federal courts Courts of appeal District courts Executive - President Executive Office Cabinet / Executive departments Civil service Independent agencies Law enforcement Public policy Intelligence Central Intelligence Agency Defense Intelligence Agency National Security Agency Federal Bureau of Investigation Uniformed Services Dept. of Defense · Air Force · Army · Marine Corps · Navy · National Guard Dept. of Homeland Security · Coast Guard Dept. of Commerce · NOAA Corps Dept. of Health & Human Services · Public Health Service Corps
Politics Divisions · Elections (Electoral College) · Foreign policy · Foreign relations · Ideologies · Local governments · Parties (Democratic Party · Republican Party · Third parties) · Political status of Puerto Rico · Red states and blue states · Scandals · State governments · Uncle Sam
Geography Cities, towns, and villages · Counties · Extreme points · Islands · Mountains (Peaks · Appalachian · Rocky) · National Park System · Regions (Great Plains · Mid-Atlantic · Midwestern · New England · Northwestern · Southern · Southwestern · Pacific · Western) · Rivers (Colorado · Columbia · Mississippi · Missouri · Ohio · Rio Grande) · States · Territory · Water supply and sanitation
Economy Agriculture · Banking · Communications · Companies · Dollar · Energy · Federal Budget · Federal Reserve System · Financial position · Insurance · Mining · Public debt · Taxation · Tourism · Trade · Transportation · Wall Street
Society
Topics Crime · Demographics · Education · Family structure · Health care · Health insurance · Incarceration · Languages (American English · Spanish · French) · Media · People · Public holidays · Religion · Sports
Social class Affluence · American Dream · Educational attainment · Homelessness · Homeownership · Household income · Income inequality · Middle class · Personal income · Poverty · Professional and working class conflict · Standard of living · Wealth
Culture Architecture · Art · Cinema · Cuisine · Dance · Fashion · Flag · Folklore · Literature · Music · Philosophy · Radio · Television · Theater
Issues Abortion · Affirmative action · Anti-Americanism · Capital punishment · Drug policy · Energy policy · Environmental movement · Exceptionalism · Gun politics · Health care reform · Human rights · Immigration · Illegal Immigration · LGBT rights (Same-sex marriage) · Obesity · Racism · Terrorism
Book · Category · Portal · WikiProject

Categories:

 

The above information uses material from Wikipedia and is licensed under the GNU Free Documentation License.
Some facts may not have been fully verified for accuracy. [Disclaimers]
This page was last archived by our server on Fri Mar 9 21:05:05 2012.
Displaying this page or its contents does not use any Wikimedia Foundation's resources.
The owners of this site proudly support the Wikimedia Foundation.

More Information Results for "Personal Income In the United States"
[Hide]▼
'Personal Income In the United States' Images
Household income in the United States
library.kiwix.org
Household income in the United States
366 x 350px

[source page]

Household income in the US

Google Images Search: personal income in the united states,
Wed Jan 4 14:08:35 2012
'Personal Income In the United States' News
Novatel Wireless Announces Second Quarter 2010 Financial Results - MarketWatch (press release)
marketwatch.com
Novatel Wireless Announces Second Quarter 2010 Financial Results - MarketWatch (press release)
Tue, 03 Aug 2010 20:11:28 GMT+00:00
MarketWatch (press release) For parties in the United States and Canada, call 877-941-4776 to access the conference call. International parties can access the call at 480-629-9762. ...
Google News Search: personal income in the united states,
Wed Jan 4 14:08:38 2012
'Personal Income In the United States' Web
Household income in the United States : Reference (The Full Wiki)
thefullwiki.org
Household income in the United States : Reference (The Full Wiki)
Household income is a measure commonly used by the United States government and private institutions. That measure counts all the income of all residents over the age ...
www.thefullwiki.org/Household_income_in_the_United_States

Bing Web Search: "personal income in the united states",
Thu Dec 1 21:56:11 2011
'Personal Income In the United States' Definition

Matching Results for Personal Income In the United States:

section 8
Federally subsidized housing for low-income families and individuals, formally known as the Housing Choice Voucher Program,. (US, military) Discharge ...

tax
Money paid to the government other than for transaction-specific goods and services. A burdensome demand. To impose and collect a tax from (a person ...


from: Wiktionary: personal income in the united states,
Sun Sep 18 10:59:20 2011
'Personal Income In the United States' Videos
The Reverse Bradley Effect?
current.com
The Reverse Bradley Effect?

Sun, 23 Aug 2009 11:10:33 PDT

newview4foryou.blogspot.com In this time, when the Economy of the United States is at its worst, when the US faces two wars that are wasting money ... current.com.

Google Videos Search: personal income in the united states,
Wed Jul 27 09:21:17 2011
'Personal Income In the United States' Blogs
'I am not a pirate' - Beyond The Commons - Macleans.ca
www2.macleans.ca
'I am not a pirate' - Beyond The Commons - Macleans.ca

Aaron Wherry

Mon, 18 Oct 2010 16:07:21 GMT

With the . United States. struggling to avoid a return to recession and currency wars casting a dark cloud over the international economy, this piracy stuff is the level of discussion we get from our government. . ... I'm no defender of Minister Flaherty, but are you sure that the Treasury lost more in . personal income. tax revenue due to the causes you describe than it would have in corporate income tax from the creation of the Bell Canada Income Trust and others? ...

Macleans.ca
Google Blogs Search: personal income in the united states,
Thu Mar 17 04:41:22 2011
[Hide]▲