Typical American family earned $53K last year

Posted at 10:51 AM, Sep 16, 2015
and last updated 2015-09-16 13:51:20-04

Americans didn't get a raise last year.

Median household income was $53,657 in 2014, barely changed from $53,585 a year earlier, the U.S. Census Bureau reported Wednesday.

Meanwhile, the nation's poverty rate also held steady at 14.8% last year. Some 46.7 million Americans were in poverty, compared to 46.3 million in 2013.

Income is back to where it was years ago, but precise comparisons are now difficult because Census changed its methodology last year so it could provide a more detailed look at the sources of Americans' income.

Still, wage stagnation remains a long-standing problem and is a central focus of the 2016 presidential election. The Democratic candidates want to raise the minimum wage and widen the safety net, while Republicans want to spur job creation by lowering taxes and shedding regulations.