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U.S. incomes, poverty rate bounce back to pre-recession levels in 2016
The U.S. poverty rate fell for the second straight year in 2016 while median income rose to an all-time high of $59,000 as the economy made up ground lost during the 2007-2009 recession, federal government data released on Tuesday showed. Median household income rose 3.2 percent from $57,200 a year earlier, according to a U.S. Census Bureau report. It surpassed the previous high of $58,665 in 1999 during the nation’s record 10-year economic expansion, although the agency said the figures were not directly comparable because of methodology changes. “Real median household income has finally completed its nine-year ... (full story)