Wednesday, August 27, 2008

Household Income Up / Per Capita Income Down

The Census just released their 'Income, Poverty, and Health Insurance in the U.S.' survey for 2007. To summarize...

Household Income Rises, Poverty Rate Unchanged, Number of Uninsured Down
While household incomes are up after five tough years, per capita income is down. This means more people are living under each roof and earning less, which makes sense given the increase in both unemployment and foreclosures.



More perplexing, per capita income for those of Asian descent dropped an astonishing 4.5%+ in 2007 (though that was off the highest income level in 2006).