A cursory look at the charts would seem to indicate that median household income for all racial groups in 2017 was the highest on record. But the Census Bureau notes it changed how it calculated the data starting in 2013.
When those changes are taken into consideration,
the income across all racial groups is not significantly higher than it was in 2007.
Still, income rates over the past few years have steadily increased for most American households as more people have gained full-time employment since the end of the Great Recession.
The exceptions to the trend are Asian and black households.
Median income for Asian households, which earn the most out of any demographic group, dropped to $81,331 last year, from $83,182 in 2016.
Median income for black households — the lowest earners of any racial group — fell slightly to $40,258 in 2017, down from $40,339 in 2016.
“
That doesn’t bode well for our economy,” said Valerie Wilson, the director of the left-leaning Economic Policy Institute’s Program on Race, Ethnicity and the Economy. “We are a multiracial, diverse society so when there are groups that are historically and persistently lagging behind others. That means that we have a weaker society.”