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Median Income Per Household Member
The median income per member of household is a measure used by statisticians and the US Census Bureau to determine the median income that exists in a household for each of its members. In order to obtain this number the median household income is divided by the median number of persons in households of the same income group. For example, in the United States the median household income in the year 2004 was $44,389, while the median income per member of household was $23,535. See also * Household income in the United States * Median household income * Income distribution * Poverty in the United States * Income Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For ... References Income in the United States Household income {{Econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Census Bureau
The United States Census Bureau (USCB), officially the Bureau of the Census, is a principal agency of the U.S. Federal Statistical System, responsible for producing data about the American people and economy. The Census Bureau is part of the U.S. Department of Commerce and its director is appointed by the President of the United States. The Census Bureau's primary mission is conducting the U.S. census every ten years, which allocates the seats of the U.S. House of Representatives to the states based on their population. The bureau's various censuses and surveys help allocate over $675 billion in federal funds every year and it assists states, local communities, and businesses make informed decisions. The information provided by the census informs decisions on where to build and maintain schools, hospitals, transportation infrastructure, and police and fire departments. In addition to the decennial census, the Census Bureau continually conducts over 130 surveys and programs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Median Household Income
The median income is the income amount that divides a population into two equal groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income. Both of these are ways of understanding income distribution. Median income can be calculated by household income, by personal income, or for specific demographic groups. Median equivalent adult income The following table represents data from OECD's "median disposable income per person" metric; disposable income deducts from gross income the value of taxes on income and wealth paid and of contributions paid by households to public social security schemes. The figures are equivalised by dividing income by the square root of household size. As OECD displays median disposable incomes in each country's respective currency, the values were converted here using PPP conversion factors for private consumption from the same source, accounting for each country's cost of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Household Income In The United States
Household income is an economic standard that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country. It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US. A key measure of household income is the median income, at which half of households have income above that level and half below. The U.S. Census Bureau reports two median household income estimates based on data from two surveys: the Current Population Survey (CPS) and the American Community Survey (ACS). The CPS is the recommended source for national-level estimates, whereas the ACS gives estimates for many geographic levels. According to the Current Population Survey, CPS, the median household income was $63,179 in 2018. According to the ACS, the U.S. median household income in 2018 was $61,937. Estimates for previous years are given in terms of real income, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Median Household Income
The median income is the income amount that divides a population into two equal groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income. Both of these are ways of understanding income distribution. Median income can be calculated by household income, by personal income, or for specific demographic groups. Median equivalent adult income The following table represents data from OECD's "median disposable income per person" metric; disposable income deducts from gross income the value of taxes on income and wealth paid and of contributions paid by households to public social security schemes. The figures are equivalised by dividing income by the square root of household size. As OECD displays median disposable incomes in each country's respective currency, the values were converted here using PPP conversion factors for private consumption from the same source, accounting for each country's cost of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Distribution
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relationship. The Lorenz curve can represent the distribution of income within a society. The Lore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty In The United States
In the United States, poverty has both social and political implications. In 2020, there were 37.2 million people in poverty. Some of the many causes include income inequality, inflation, unemployment, debt traps and poor education.Western, B. & Pettit, B., (2010)Incarceration and social inequality.Daedalus, 139(3), 8-19 The vast majority of people living in poverty are less educated and end up in a state of unemployment;Census.gov, (September, 2017) Income and Poverty in the United States: 2016. Retrieved from https://www.census.gov/content/dam/Census/library/publications/2017/demo/P60-259.pdf higher incarceration rates have also been observed. Although the US is a relatively wealthy country by international standards, poverty has consistently been present throughout the United States, along with efforts to alleviate it, from New Deal-era legislation during the Great Depression, to the national war on poverty in the 1960s and poverty alleviation efforts during the 2008 Great R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For example, a person's income in an economic sense may be different from their income as defined by law. An extremely important definition of income is Haig–Simons income, which defines income as ''Consumption + Change in net worth'' and is widely used in economics. For households and individuals in the United States, income is defined by tax law as a sum that includes any wage, salary, profit, interest payment, rent, or other form of earnings received in a calendar year.Case, K. & Fair, R. (2007). ''Principles of Economics''. Upper Saddle River, NJ: Pearson Education. p. 54. Discretionary income is often defined as gross income minus taxes and other deductions (e.g., mandatory pension contributions), and is widely used as a basis to co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income In The United States
__NOTOC__ Income in the United States is measured by the various federal agencies including the Internal Revenue Service, Bureau of Labor Statistics, US Department of Commerce, and the US Census Bureau. Additionally, various agencies, including the Congressional Budget Office compile reports on income statistics. The primary classifications are by household or individual. The top quintile in personal income in 2019 was $103,012 (included in the chart below). The differences between household and personal income are considerable, since 61% of households now have two or more income earners. Median personal income in 2020 was $56,287 for full time workers. This difference becomes very apparent when comparing the percentage of households with six figure incomes to that of individuals. Overall, including all households/individuals regardless of employment status, the median household income was $67,521 in 2020 while the median personal income (including individuals aged 15 and over) wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
