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Median household income has been on the rise for the past three years, climbing 3.8% to $53,891 in June, according to newly released data by Sentier Research. It's yet another indication that the economic recovery is taking hold.
But Americans have yet to fully heal from the Great Recession, which officially
ended five years ago.
Median income remains 3.1% below its June 2009 level of $55,589. That's in large part because unemployment remained high in the early years of the recovery, according to Sentier.
"Even though technically the recovery began in June 2009 ... the broad measures of unemployment were still high," said Gordon Green, a partner at Sentier. "As people found jobs, their incomes went up and then we started to see incomes turn around."
Though many people are doing better nowadays, the gains are
not spread evenly.
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After suffering deep declines early in the recovery, black households have seen their median income rise by 3.5% over the past three years. Hispanics, meanwhile, were not as fortunate recently -- their income has remained essentially flat since 2011.