Stagnant income, except at the top
Thursday, Sep 18, 2014 - Posted by Rich Miller
* Illinois Issues…
The median household income for Illinois in 2013 was $56, 210—the same as it was in 2008, the year that the U.S. financial collapse began. Illinois’ median household income is slightly higher than the national of almost $52,000, which has stayed relatively flat over the same time period. Stateline, an initiative of the Pew Charitable Trusts, crunched the state numbers into this handy map for state comparisons. Meanwhile, the average income for the state’s top 5 percent of earners is $363,159. That number has increased by 6.4 percent since 2008.
According to Pew’s analysis, most of Illinois’ neighboring states saw an increase in median income. The exceptions were Indiana, which had a .9 percent decrease, Wisconsin, which had a 1.2 percent decrease and Michigan, which had a .7 percent decrease. However, the average household income for the top five percent of earners went up in all three states.