Asian Americans, the fastest growing segment of the U.S. society, on average, have higher household incomes and highest education attainment of any population group, according to a U.S. Census analysis.
The U.S. Census Bureau released new 5-year statistics in its American Community Survey Dec. 10 that gives a glance at America's people giving number crunchers, investment planners and service providers an idea of social and economic trends in various communities.
Deeper dives into the mountain of data are sure to follow to explain the how's and why's of the findings. The Census Bureau will also issue yearly surveys to keep trends current. Also, the survey doesn't include 2020 and the impact of the coronavirus pandemic during which Asian Americans suffered high job losses and business closures.
The survey's data shows that Asian households had the highest increase among ethnic group with a rise of 7.9% in median income when comparing the five-year survey of 2005–2009 and 2015– 2019, from $81,772 to $88,204, almost an 8% increase.
The increase of the nationwide median household income was only 2.3% in comparing the same periods, according to the survey. Non-Hispanic White householders experienced an increase of 3% in median household income between 2005-2009 and 2015-2019, from $66,767 to $68,785; Black householders increased 1.9% and Hispanic or Latino householders increased 5.9%
There are many factors for the increase household income among Asian Americans, but one of them is likely to be educational attainment.
The Census survey showed that the same time period from 2005-2019 to 2015-2019, the Asian Americans had the highest rate of bachelor's degree attainment; 54.3% of Asian Americans held at least bachelor's degrees, followed by non-Hispanic Whites.
The household income increase varied from state to state. There were increases in 27 states and the District of Columbia. Puerto Rico and 20 states had changes that were not statistically significant. Median household income for 2015–2019 was the highest in New Jersey ($121,111) and was among the lowest in South Dakota ($52,786).9 Puerto Rico ($22,390) had the lowest 2015–2019 median income for Asian householders.
Nine states and the District of Columbia had median incomes for Asian households that were higher than the U.S. median for Asian households. Puerto Rico and 38 states had median incomes for 9 The median income for Asian households in South Dakota was not significantly different from the median income for Asian households in Idaho, Mississippi, Montana, Nebraska, Vermont, West Virginia, and Wyoming. Asian households that were lower than the U.S. median.
Nine states and the District of Columbia had median incomes for Asian households that were higher than the U.S. median for Asian households. Puerto Rico and 38 states had median incomes for 9 The median income for Asian households in South Dakota was not significantly different from the median income for Asian households in Idaho, Mississippi, Montana, Nebraska, Vermont, West Virginia, and Wyoming. Asian households that were lower than the U.S. median.
The medians for Asian households in Michigan, New Hampshire, and Texas were not statistically different from the U.S. median.
The American Community Survey also gave a picture of Americans' home ownership, poverty rate and education.
No comments:
Post a Comment