Real median income in U.S. households improved by 5.2 percent between the years 2014 and 2015, said to be the first annual increase since 2007, whereas the official poverty rate fell by 1.2 percent, according to the U.S. Census Bureau.
Meanwhile, the number of people that do not have health insurance coverage also went down by 1.3 percent.
In 2015, median household income was $56,516 as compared to $53,718 in 2014.
The bureau recorded a 13.5 percent in national poverty rate last year, with 43.1 million individuals in poverty, which is 3.5 million fewer than in 2014.
The recent decrease in poverty level signifies the biggest annual poverty percentage drop point since 1999.
As for people without health insurance coverage, it was recorded at 10.4 percent in 2014 as opposed to 9.1 percent this year, decreasing the 33.0 million people without the insurance coverage to 29.0 million.
“As you all know, there’s a lot of doom and gloom about America being purveyed these days, but the facts tell a different story… This progress didn’t happen on its own. It was hard-earned by the resilience of the American people and supported by policies of this President,” principal deputy press secretary Eric Schultz said in a press gaggle.
He added, “The President is absolutely committed to using every one of his remaining days in office to further this progress by calling on Congress to take steps to invest in job creation, wage growth, and equal pay for equal work.”