U.S. Census Bureau
2018 CPI-U-RS Adjusted Dollars, Not Seasonally Adjusted
Real median household income in the US is indicative of wage rates, disposable income, and financial status of the average citizen. This is also indicative of overall economic health.
The data shows autocorrection and seasonality. The data should be differenced and seasonally adjusted.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Real Median Household Income: Total US
Auto Correction Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Data shows autocorrectation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.16 p-value = 0.04 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.98 with a p-value =0.73 indicating the data follows a normal distribution.
A skewness score of -0.05 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.06 with a p-value of 0.56 inidcates the data is unimodal
Statistics (Pearson P/ df, lower => more normal)
2020 data is not currently available.
U.S. Census Bureau, Real Median Household Income in the United States [MEHOINUSA672N], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MEHOINUSA672N, December 16, 2019.