Economic news

U.S. family income leaped by 14 percent in 2013-2016

The average income of American families increased by 14 percent in 2013-2016 after slipping 5 percent in the previous three years, Federal Reserve’s latest extensive review showed.

However, the gap between the poor and the rich is widening, Fed noted. Median income of the population jumped 10 percent over the period, to $52,700 from $48,100.

The Federal Reserve realizes such surveys every three years. More than 6.200 households took part in the last survey.

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