According to Census Bureau data just released this week on September 10th, more than 1.2 million American households have had an increase in their annual incomes. The timeframe in the data was taken between 2016 and 2018, shows the increase above $50,000, a sign of a growing middle class.
In many respects, 2018 was a significant year for the middle class.
In the first months of 2018, the unemployment rate remained stuck at 4.1 percent, seemingly confirming forecasts of some economists that the 4 percent barrier signifies full employment. But the economy kept adding jobs. By the year’s end, unemployment fell to 3.7 percent, the lowest since 1969. Despite some ups and downs, the rate still stood at 3.7 percent in August 2019.