Middle Class Income Graph Showed Steep Northward Growth In 2015
The year 2015 was a good year for middle class families in America. Their income rose by 5.2 percent, which is for the first time since the end of the Great Recession. More to this, the rise is fastest ever recorded by federal government.
Census Bureau reveals poverty rate too dropped by 1.2 percentage points, which is the fastest since 1968.
In 2015 43.1 million people were in poverty, which is a drop of 3.5 million from year 2014.
The report also adds share of those people who lack health insurance was seen as declining in 2015 too. It dropped by 1.3 percentage points to 9.1 percent.
The recovery from recession shows fortune of large swaths of workers and families in America are improving.
Obama’s Council of Economic Advisers’ chairman Jason Furman said their expectations have been increased as such growth has never been seen.
Meanwhile, the Republicans said overall numbers remain weaker compared to what those should be.
House Ways and Means Committee Chairman Kevin Brady said, “Today’s report is another disappointing confirmation that too many Americans are still struggling to provide for their families and reach their full potential.”
Democrat Hillary Clinton said improvement in economy is being seen under President Barack Obama.
A senior policy adviser to the Clinton campaign, Jacob Leibenluft, said the numbers are positive by large and shows real progress.http://www.dailynewsz.com/middle-class-income-graph-showed-steep-northward-growth-in-2015/http://www.dailynewsz.com/wp-content/uploads/2016/09/middle-class-american.jpghttp://www.dailynewsz.com/wp-content/uploads/2016/09/middle-class-american-300x282.jpgBusinessHome Improvementcensus bureau,middle class