The bar chart illustrates the number of households in the USA by their annual income allocated by years (2007, 2011, 2015). From the data it is evident that the overall trend remains the same for all 8 years: households with income that is 100,000 or more stay at the highest position of approximately 28 million. However, in the year 2011, the largest proportion of households were earning $25,000 – $49,000.
In 2007, most of the US population lived in households which were earning $100,000 or more. The second position was taken by households earning $25,000 – 49,999 annually. The lowest proportion of household consisted of those with annual income of $50,000 – 74,999 or $75,000 – 99,999. Comparing this dynamic to the year 2011, we can say that the there were no major fluctuations except that the leading position was taken by people living in households with an annual income of $25,000 – 49,999, which was approximately 30 million. The second position was also overtaken by households earning less than $25,000. This group has reached a threshold of approximately 29,000 million.
In the year 2015, the proportion of households earning $100,000 or more soared. It reached the highest threshold in the 4 recorded years which was approximately 33 million. In comparison to this dramatic change, the proportion of households earning between $25,000 and $49,999 and those earning less than $25,000 remained stable at around 28 million.
To conclude there was an overall upward trend in all the households’ groups in the 8 recorded years. With the highest proportion of households with the annual income of $100,000 or more at 34 million in 2011 and the lowest proportion of households earning $50,000 – $74,999 at 15 million in 2011.