Thursday, September 10, 2009

Household Income Blues...

The Census released (hat tip Calculated Risk) data for 2008 Household Income and it was a doozy...

The U.S. Census Bureau announced today that real median household income in the United States fell 3.6 percent between 2007 and 2008, from $52,163 to $50,303. This breaks a string of three years of annual income increases and coincides with the recession that started in December 2007.
Even more remarkable is that EVERY income limit (i.e. bottom 20% through top 20% and top 5%) is now down in real terms since 1999!

Household Income by Limits

And the bottom 20% bracket now earns a WHOPPING $2689 more per year in 2008 dollars than in 1968.

Cumulative Change in Household Income

Source: Census