Median household income 1

Median household incomeMedian income is the amount that divides the income distribution into two equal groups, half having income abovethat amount, and half having income below that amount. Mean income (average) is the amount obtained by dividingthe total aggregate income of a group by the number of units in that group.Household income is not to be confused with family or personal income. Household income is often the combinationof two income earners pooling the resources and should therefore not be confused with an individual's earnings.

OECD StatisticsThe annual median equivalised disposable household income for selected countries is shown in the table below. Thisis the disposable income of an equivalent adult in a household in the middle of the income distribution in a year.Data are in United States dollars at current prices and current purchasing power parity for private consumption forthe reference year.

Rank Country Median income (US$, PPP)[1] Median income (US$, nominal) Year

1  Luxembourg 36,415 47,936 2010

2  Norway 32,502 52,575 2010

3   Switzerland 30,897 47,237 2009

4  United States 29,056 29,056 2010

5  Canada 27,752 34,929 2010

6  Austria 27,745 31,357 2010

7  Australia 27,092 38,570 2010

8  Denmark 26,318 39,742 2010

9  Netherlands 25,121 29,155 2010

10  Sweden 24,787 31,878 2010

11  Iceland 24,535 27,748 2010

12  Germany 24,426 27,213 2010

13  Belgium 24,420 29,221 2010

14  Finland 24,035 31,482 2010

15  France 23,492 27,835 2010

16  South Korea 21,916 18,035 2011

17  United Kingdom 21,750 25,237 2010

18  Ireland 21,681 30,287 2009

19  Italy 21,530 23,451 2010

20  New Zealand 21,472 21,462 2009

21  Japan 19,974 26,671 2009

22  Slovenia 19,401 17,971 2010

23  Spain 17,834 18,531 2010

24  Greece 15,563 15,823 2010

25  Israel 15,545 18,125 2010

26  Czech Republic 13,829 11,091 2010

Median household income 2

27  Portugal 13,182 12,400 2010

28  Slovakia 12,904 9,758 2010

29  Poland 11,983 7,785 2010

30  Estonia 10,218 8,224 2010

31  Russia 9,383 5,690 2008

32  Hungary 9,087 6,374 2009

33  Chile 8,647 6,618 2011

34  Turkey 6,832 4,835 2009

35  Mexico 4,384 3,086 2010

Median household income and the US economy

This graph shows the income of the given racial and ethnic groups, in 2011 dollars.

Since 1980, U.S. gross domesticproduct (GDP) per capita has increased67%,[2] while median householdincome has only increased by 15%. Aneconomic recession will normallycause household incomes to decrease,often by as much as 10% (Figure 1).

Median household income is apolitically sensitive indicator. Voterscan be critical of their government ifthey perceive that their cost of living isrising faster than their income. Figure1 shows how American incomes havechanged since 1970. The last recessionwas the early 2000s recession and was started with the bursting of the dot-com bubble. It affected most advancedeconomies including the European Union, Japan and the United States.

The current crisis began with the bursting of the U.S. housing bubble, which caused a problem in the dangerouslyexposed sub prime-mortgage market. This in turn has triggered a global financial crisis. In constant price, 2011American median household income is 1.13% lower than what it was in 1989. This corresponds to a 0.05% annualdecrease over a 22-year period.[3] In the mean time, GDP per capita has increased by 33.8% or 1.33% annually.A comparison between Median Equivalised Household Income and GDP per Capita in USD for select developedcountries is shown in the chart below.

Median household income 3

Median Equivalised Income VS GDP per Capita

References[1] http:/ / stats. oecd. org/ Index.

aspx?DataSetCode=IDD[2] IMF.org (http:/ / www. imf. org/ external/

pubs/ ft/ weo/ 2007/ 02/ weodata/ weorept.aspx?sy=1980& ey=2006& scsm=1&ssd=1& sort=country& ds=. & br=1&c=111& s=NGDPRPC& grp=0& a=& pr.x=90& pr. y=16)

[3] Census.gov (http:/ / www. census. gov/hhes/ www/ income/ data/ historical/household/ 2011/ H06AR_2011. xls)

Article Sources and Contributors 4

Article Sources and ContributorsMedian household income  Source: https://en.wikipedia.org/w/index.php?oldid=617559202  Contributors: Abdulnoir75, Acjelen, Alastairgbrown, AxelBoldt, Badenoch, Beland,BrendelSignature, Chris Capoccia, Colioneros, Crasshopper, Delirium, Denovoid, DerHexer, Dewritech, Dfe6543, Dmg46664, Donner60, Eastlaw, Eraserhead1, Eubulides, Frichmon, Gautam p,Ginsuloft, Gregkaye, Grick, Ground Zero, Guy Harris, Hjal, Hondo77, Huitsix86, Ichek, Isaac Crumm, J-beda, Jarble, Jeltz, John of Reading, Justintbassett, Kathovo, Ke$ha&NickiMinaj4Ever,KeithTyler, Lneal001, Logiprojekt, Lotje, Massyparcer, Materialscientist, Mcattell, MisterJayEm, NawlinWiki, NickBush24, NorthernThunder, NorwegianBlue, Nyenyec, Ottawahitech, Pristino,QuiteUnusual, RMKJ, Royalfalcon12, SWAdair, Short Verses, Ski67dOO, Stevietheman, Svick, Techastrax, Technical 13, Textorus, Tide rolls, Tomeasy, Trecooldc, Unknown, Uris, Vanisheduser lt94ma34le12, Volunteer Marek, Wavelength, Welsh, Westin, WikiDan61, Wyobla, 246 anonymous edits

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