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September 13, 2018

Household incomes grew again in 2017, but income inequality has gotten worse

  • New data underscores the lasting damage the Great Recession did to the majority of American families.
    AP Economics Writer

    WASHINGTON — The income of a median U.S. household rose for a third straight year in 2017 as solid economic growth helped put more people into full-time jobs. But income inequality also worsened as the wealthiest Americans enjoyed even larger pay increases.

    Incomes for a typical U.S. household, adjusted for inflation, rose 1.8 percent, from $60,309 in 2016 to $61,372. The proportion of Americans living in poverty also dropped for the third straight year, to 12.3 percent from 12.7 percent.

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