The chart below shows the number of households in the USA by their annual income in 2007, 2011 and 2015.
Summarize the information by selecting and reporting the main features and make comparisons where relevant.
Write at least 150 words.
2007:
Less than $25000, 25 million
$25000-49999, almost 27 million
$50000-74999, slightly above 20 million
$75000-99999, below 15 million
100000+ just below 30 million
2011:
Less than $25000, almost 29 million
$25000-49999, 30 million
$50000-74999, slightly above 21 million
$75000-99999, almost 14 million
100000+ almost 28 million
2015:
Less than $25000, almost 28 million
$25000-49999, almost 29 million
$50000-74999, almost 21 million
$75000-99999, 15 million
100000+ almost 33 million
The chart provides a breakdown of US households based on their annual income in the years 2007, 2011, and 2015. Notably, the data reflects shifts in income distribution over this period.
In 2007, the largest segment of households earned between $25,000 and $49,999, accounting for almost 27 million households. This was followed closely by households earning less than $25,000 and those earning $100,000 or more, each representing approximately 25 million households. Notably, the higher income bracket of $75,000 to $99,999 comprised fewer households, below 15 million.
By 2011, a significant increase in households earning less than $25,000 was observed, reaching nearly 29 million. The $25,000 to $49,999 range remained consistent at around 30 million households. Interestingly, the $100,000 or more category saw a drop to almost 28 million, while households earning $75,000 to $99,999 decreased to nearly 14 million.
In 2015, the number of households earning between $25,000 and $49,999 remained steady at nearly 29 million. The $50,000 to $74,999 bracket also remained consistent, with around 21 million households. Notably, the category earning $75,000 to $99,999 rebounded to 15 million households. The highest income group of $100,000 or more showed a significant increase, reaching almost 33 million households.
In summary, over the observed period, fluctuations occurred primarily in the mid-range income brackets, while the number of households in the higher income categories exhibited noticeable growth. This data underscores the evolving dynamics of income distribution within US households over the years 2007, 2011, and 2015.