A Closer Look

The Distribution of Household Income in US, 2015 – Average of $20,000 for the lowest quintile and $292,000 for the highest quintile

In 2015, household income was unevenly distributed: Households at the top of the income distribution received significantly more income than households at the bottom of the distribution.

In 2015, average household income before accounting for means-tested transfers and federal taxes was $20,000 for the lowest quintile and $292,000 for the highest quintile. After transfers and taxes, those averages were $33,000 and $215,000.

Before accounting for the effects of means-tested transfers and federal taxes:

  • Within the highest quintile, income was highly skewed toward the very top of the distribution:
    • Among households in the bottom half of the highest quintile (the 81st to 90th percentiles), average income was $157,000; among the 1.2 million households in the top 1 percent of the distribution, it was $1.9 million.
    • The combined effect of means-tested transfers and federal taxes in 2015 was, on average, to increase income at the bottom of the income distribution and decrease income at the top of the distribution.
  • After accounting for the effects of means-tested transfers and federal taxes:
    • Average income among households in the lowest quintile of the income distribution was about $33,000.
    • Average income among households in the highest quintile was about $215,000.
    • Among households in the bottom half of the highest quintile, average income was $125,000; among households in the top 1 percent, it was $1.2 million.

Chosen excerpts by Job Market Monitor. Read the whole story at The Distribution of Household Income, 2015 | Congressional Budget Office

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: