"The U.S. Census Bureau announced today that real median household income in 2021 was not statistically different than 2020. The official poverty rate of 11.6% was also not statistically different between 2020 and 2021. The Supplemental Poverty Measure (SPM) rate in 2021 was 7.8%, a decrease of 1.4 percentage points from 2020. Meanwhile, the percentage of people with health insurance coverage for all or part of 2021 was 91.7% (compared to 91.4% in 2020.) An estimated 8.3% of people, or 27.2 million, did not have health insurance at any point during 2021, according to findings from the 2022 Current Population Survey Annual Social and Economic Supplement (CPS ASEC). That’s compared with an estimated 8.6% of people, or 28.3 million, who did not have health insurance at any point during 2020.
Real median household income was $70,784 in 2021, not statistically different from the 2020 estimate of $71,186. Income estimates are expressed in real or 2021 dollars to reflect changes in the cost of living. Between 2020 and 2021, inflation rose 4.7%; this is the largest annual increase in the cost-of-living adjustment since 1990. You can find more in-depth analysis in our recent Random Samplings blog.
The real median earnings of all workers (including part-time and full-time workers) increased 4.6% between 2020 and 2021, while median earnings of those who worked full-time, year-round decreased 4.1%. Between 2020 and 2021, the change in the number of total workers was not statistically significant; however, there was an increase of about 11.1 million full-time, year-round workers (from approximately 106.3 million to 117.4 million), suggesting a shift from part-time or part-year in 2020 to full-time, year-round work in 2021.
The official poverty rate in 2021 was 11.6%, with 37.9 million people in poverty. Neither the rate nor the number in poverty was significantly different from 2020. The SPM rate in 2021 was 7.8%, a decrease of 1.4 percentage points from 2020. This is the lowest SPM poverty rate since estimates were first published in 2009 and the third consecutive annual decline..."
Income, Poverty and Health Insurance
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