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| Why the US economy is crucial to the election – in six charts Why the US economy is crucial to the election – in six charts | |
| (about 1 hour later) | |
| The Census Bureau released its annual look at US household incomes on Tuesday, the most detailed report on the financial health of the nation in the run-up to the 2016 election. The economy is once again the central background of the 2016 campaign. | The Census Bureau released its annual look at US household incomes on Tuesday, the most detailed report on the financial health of the nation in the run-up to the 2016 election. The economy is once again the central background of the 2016 campaign. |
| The data confirmed what the Obama administration has been trying to convince American voters of for more than a year: the US economic recovery is here. But it also highlighted how much work remains to be done. | The data confirmed what the Obama administration has been trying to convince American voters of for more than a year: the US economic recovery is here. But it also highlighted how much work remains to be done. |
| Here are the six charts that could decide who takes the White House come November. | Here are the six charts that could decide who takes the White House come November. |
| Median household income | Median household income |
| Yes, the median household income saw its first significant increase since 2007 last year, rising by 5.2%. It’s the first rise since the recession and since Obama was elected, and it’s clearly a significant moment. But, for perspective, that increase brings the median household income up to $56,516 a year, which is about where it was back in 1999. Adjusted for inflation, Americans today are bringing home 2.4% less than they were at the turn of the millennium. It’s no wonder that so many feel as though they haven’t had a significant raise in years – because they haven’t. | Yes, the median household income saw its first significant increase since 2007 last year, rising by 5.2%. It’s the first rise since the recession and since Obama was elected, and it’s clearly a significant moment. But, for perspective, that increase brings the median household income up to $56,516 a year, which is about where it was back in 1999. Adjusted for inflation, Americans today are bringing home 2.4% less than they were at the turn of the millennium. It’s no wonder that so many feel as though they haven’t had a significant raise in years – because they haven’t. |
| Job creation | Job creation |
| An additional 1.4 million people found full-time work in 2015, according to the Census Bureau. Job creation has been one of the highlights of Obama’s presidency. His administration often likes to point out that his presidency saw the longest streak of job creation on record. August was the 71st consecutive month of overall job creation and the 77th consecutive month of private-sector job growth. | An additional 1.4 million people found full-time work in 2015, according to the Census Bureau. Job creation has been one of the highlights of Obama’s presidency. His administration often likes to point out that his presidency saw the longest streak of job creation on record. August was the 71st consecutive month of overall job creation and the 77th consecutive month of private-sector job growth. |
| Donald Trump, the Republican presidential nominee, has described the jobs added as “bad jobs” and promised that if elected he would be “the greatest jobs-producing president that God ever created”. | Donald Trump, the Republican presidential nominee, has described the jobs added as “bad jobs” and promised that if elected he would be “the greatest jobs-producing president that God ever created”. |
| Racial divide | Racial divide |
| While everyone’s income went up in 2015, a large racial divide remains. The median household income for white Americans in 2015 was $63,000. That’s 70% more than the median household income of black Americans, which was $36,898. | While everyone’s income went up in 2015, a large racial divide remains. The median household income for white Americans in 2015 was $63,000. That’s 70% more than the median household income of black Americans, which was $36,898. |
| Hispanic households saw the greatest jump in median income. Their income went up by 6.1%, reaching $45,148. Trump, who lags Clinton by a wide margin with minority voters, has argued the Democrats have failed African Americans and Latinos economically. Polls suggest that his message is not yet hurting Clinton. | Hispanic households saw the greatest jump in median income. Their income went up by 6.1%, reaching $45,148. Trump, who lags Clinton by a wide margin with minority voters, has argued the Democrats have failed African Americans and Latinos economically. Polls suggest that his message is not yet hurting Clinton. |
| Income inequality | Income inequality |
| The census does not have to single out the top 1% of Americans in order to make a point about income inequality in the US. According to its data, the top 5% of Americans had a median household income of $214,500, while the bottom 50% had a median income of $56,500. And the bottom 10%? Their median household income was $13,300. Bernie Sanders railed against income inequality, and in the primaries at least, so did Clinton and Trump. The two one-percenters have been major beneficiaries of the widening income gap. | The census does not have to single out the top 1% of Americans in order to make a point about income inequality in the US. According to its data, the top 5% of Americans had a median household income of $214,500, while the bottom 50% had a median income of $56,500. And the bottom 10%? Their median household income was $13,300. Bernie Sanders railed against income inequality, and in the primaries at least, so did Clinton and Trump. The two one-percenters have been major beneficiaries of the widening income gap. |
| Gender wage gap | Gender wage gap |
| In 2015, the gender wage gap shrank by a penny. This means that women earned 80 cents for every dollar earned by men that year, up from 79 cents the year before. Clinton has long called for equal pay. While serving in the US Senate, she co-sponsored the Paycheck Fairness Act, which despite being introduced in every Congress since 1997 has yet to pass. | In 2015, the gender wage gap shrank by a penny. This means that women earned 80 cents for every dollar earned by men that year, up from 79 cents the year before. Clinton has long called for equal pay. While serving in the US Senate, she co-sponsored the Paycheck Fairness Act, which despite being introduced in every Congress since 1997 has yet to pass. |
| Speaking at the Republican national convention, Ivanka Trump promised that her father too would fight for equal pay for women. “He will fight for equal pay for equal work, and I will fight for this too, right alongside of him,” she said. | Speaking at the Republican national convention, Ivanka Trump promised that her father too would fight for equal pay for women. “He will fight for equal pay for equal work, and I will fight for this too, right alongside of him,” she said. |
| Millions still in poverty | Millions still in poverty |
| In 2015, the US poverty rate dropped by 1.2%. However, there are still 43.1 million people living in poverty in the US, up from 38 million in 2007. Neither candidate has made poverty a major focus of their campaign. The poor are much less likely to vote than the rich. | In 2015, the US poverty rate dropped by 1.2%. However, there are still 43.1 million people living in poverty in the US, up from 38 million in 2007. Neither candidate has made poverty a major focus of their campaign. The poor are much less likely to vote than the rich. |