August 2018 Median Household Income

According to Sentier Research, median household income in the United States rose to $62,685 in August 2018, a 0.4% increase over its July 2018 estimate of $62,450.

The following chart shows the nominal (red) and inflation-adjusted (blue) trends for median household income in the United States from January 2000 through August 2018. The inflation-adjusted figures are presented in terms of constant August 2018 U.S. dollars.

Overall, U.S. median household income is continuing to set new monthly records in both nominal and inflation-adjusted terms. In the latter case, August 2018 represented the eighth consecutive month of new record highs, where every monthly estimate since November 2017 has been both higher than the previous high mark for inflation-adjusted median household income set back in January 2016 and also higher than the previous month's estimate.

Analyst's Notes

Our alternative method for estimating median household income turned in a preliminary figure of $62,417 for August 2018, which is within 0.5% of Sentier Research's Current Population Survey-based estimate for the month. Our alternate estimate is up by 0.4% from the $62,152 preliminary figure that we had previously reported for July 2018, which we would revise upward this month to be $625,184. The BEA's monthly revision of its personal income data affected data from April 2018 through July 2018.

Data Sources

U.S. Bureau of Economic Analysis. Table 2.6. Personal Income and Its Disposition, Monthly, Personal Income and Outlays, Not Seasonally Adjusted, Monthly, Middle of Month. Population. [PDF Document, Online Database (via Federal Reserve Economic Data)]. Last Updated: September 28, 2018.

U.S. Bureau of Economic Analysis. Table 2.6. Personal Income and Its Disposition, Monthly, Personal Income and Outlays, Not Seasonally Adjusted, Monthly, Middle of Month. Compensation of Employees, Received: Wage and Salary Disbursements. [PDF Document, Online Database (via Federal Reserve Economic Data)]. Last Updated: September 28, 2018.

This article was written by

Ironman is the alias of the blogger at Political Calculations, a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics. We should acknowledge that Ironman is either formerly or currently, and quite possibly, simultaneously employed as some kind of engineer, researcher, analyst, rocket scientist, editor and perhaps as a teacher of some kind or another. The scary thing is that's not even close to being a full list of Ironman's professions and we should potentially acknowledge that Ironman may or may not be one person. We'll leave it to our readers to sort out which Ironman might behind any of the posts that do appear here or comments that appear elsewhere on the web!

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