Income Rising.
New data from the US Census revealed that median household income in the US rose to $59,039, a 3% increase from 2015 and the second straight year-over-year increase. The poverty rate also dropped, falling from 13.5% to 12.7% between 2015 and 2016 - with a population just over 323M, the 0.8% drop means 2.5M people rose above the poverty line (see definition). 2016 also saw the US add 2.2M jobs, with the unemployment rate at 4.7% by end of year, which has since dropped further. Racial disparities exist under the data - Asian Americans had the highest median income at $81,400, while the median for African American households was just 39,490. And just a quick math refresher - median means that half of households earn less than $59,039, while half of American households earn more.
Apple.
Apple unveiled its latest line of updates and gadgets at its annual Apple Day, headlining the event with the release of two new models of the iPhone, the iPhone 8 and the iPhone X. The X model in particular - released on the 10th anniversary of the original iPhone - made waves, featuring a complete redesign with an edge-to-edge screen and the ability to unlock the phone using facial recognition. It's pricey, introduced at $999, with early reviews calling it the "future of the smartphone". The annual event - which usually includes revealing the latest iPhone - has become increasingly important as the company becomes a dominant force in the US tech industry (market cap over $800B), with iPhones accounting for nearly two-thirds of the company's revenue. The event was also the first time reporters saw Apple's new campus, outside Cupertino, CA. Check out a full rundown of new products announced yesterday.
Ed Murray.
Seattle mayor Ed Murray resigned Tuesday following new allegations that Murray sexually abused teenage boys in the 1970's and 1980's - the fifth such allegation to become public. Murray had been under fire since April, when a first accuser filed lawsuit claiming Murray repeatedly molested him as a teenager in 1986. The most recent accuser was Murray's own cousin, who made the allegations in an interview with the Seattle Times on Tuesday. Murray denied the charges, even after it was revealed that in 1984, Oregon Child Protective Services had determined he sexually abused his foster son, saying "under no circumstances" should Murray be allowed to foster children in the future. City Council President Bruce Harrell will replace Murray - the city's first openly gay mayor and a staunch progressive responsible for the city's $15 minimum wage increase.
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