Median Income Lower in 2010 Than 1997, Disparities Widen
|September 13, 2011||Posted by Kiwon Yoo under Blog||
According to new Census data released today, real median income fell to $49,445 in 2010, the lowest number since 1997, and the largest decline in income in a single year of any recession since at least 1967. In other words, the recent recession has undone a decade’s worth of income gains.
When breaking down incomes at the 10th, 50th and 90th percentiles, it is apparent that the recession did not affect all income brackets equally.
Poverty rates also rose to a record 15.1%, the highest since 1993. The breakdown by race/ethnicity also showed disparities, with a marked increase in recent years among Hispanics.