As of 2014, U.S. median household income had risen 3.8 percent over the previous three years to $53,891, according to CNN Money. This amount was still 3.1 percent below the June 2009 amount of $55,589.Continue Reading
This higher median income level in June 2009 came early in the recovery from the 2008 recession as workers began to find full-time employment and saw their income levels rise, reports CNN Money. The recovery, however, has not spread evenly among groups. Although the medial-level income for African Americans rose at similar levels to the general population in the three years between 2011 and 2014, the median income level for Latinos in the same period remained flat. Additionally, over the five years between 2009 and 2014, only senior citizens experienced an increase in median level income, likely because the wealthier Baby Boomer generation began to move in large numbers into this category.
Geographically, only Midwesterners were back to the same levels of median income in 2014 than those of 2009, says CNN Money. Southerners experienced a decline of 6.1 percent during that same five-year period, while Northeasterns and Westerners experienced a decline of about 4 percent. Going back to prerecession levels, in June 2014, the U.S. median income level was 4.8 percent lower than in December 2007 and 5.9 percent lower than in January 2000.Learn more about Income Tax