Median Household Income Rose 1.8% in 2017, Census Bureau Figures Show

Keith Srakocic  Associated Press  File 2018

Keith Srakocic Associated Press File 2018

Middle-class household income has been rising steadily in recent years as the economy has rebounded from the deep recession and millions of Americans have found jobs again.

A help wanted sign is posted at a taco stand in Solana Beach, California, U.S., July 17, 2017.

American median household income rose 1.8 percent last year, representing a slower rate of growth than during the previous two years, the U.S. Census Bureau said Wednesday.

Middle class income smashed expectations and reached an "all-time high" across the United States in 2017, according to new statistics released by the United States Census Bureau.

The nation's economic expansion is now in its 10th year, and Wednesday's figures signal that several years of steady income growth are helping put many Americans on stronger financial footing.

The Census also reported that the US poverty rate declined modestly to 12.3 percent, the lowest level in years and a sign the economic devastation from the Great Recession is subsiding. The U.S. economy has added jobs each month since October 2010, and the unemployment rate dropped below 4 percent in April. The poverty rate inched down 0.4 percentage point. The unemployment rate has since declined to a near 18-year low of 3.9 percent and the economy continued to churn out jobs.