Latest Census Bureau Report: Asian Households Are the Richest in America ; Black Households the Poorest

            (Taylor Media Services) According to a detailed report released last week by the Census Bureau, Asian American households have the highest median incomes in America while African American households have the lowest. The median income is the income level at which half of all households earn more and half earn less. Many economists consider it a better relative measure than “average income.”

            The report showed that last year the median income for Asian households was $64,200 compared to $50,700 for white households; $37,800 for Hispanic households and $32,000 for Black households. Increase in median income was basically flat in 2006 with only white households actually experiencing an increase in income and that increase was only 1.1 percent.

            Meanwhile, the Census report also revealed that on average women earned 77 cents for every dollar earned by a man; the number of Americans without health insurance increased to 47 million – up from 44.8 million in 2005 and the number of families living below the government’s official poverty level actually declined slightly in 2006 for the first time in 10 years. Overall, median income (measured in 2006 dollars) reached a peak in 1999 during the Clinton administration and has failed to regain that peak during the presidency of George Bush.