American Incomes: Demographics of Who Has Money by New Stragetist Editors
By New Stragetist Editors
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Html; calculations by New Strategist AMERICAN INCOMES: Demographics of Who Has Money 19 Non-Hispanic Whites Experienced the Smallest Loss Since 2000 Asians saw their incomes decline 10 percent between 2000 and 2002. 3 percent, after adjusting for inflation. Behind the decline was the recession of 2001 and job losses. 2 percent. Despite the decline, Asians continue to have far higher incomes than other racial or ethnic groups, a median of $52,285 in 2002. Blacks have the lowest median income, just $29,177.
Since 1990, the median income of married couples in which both husband and wife work full-time has grown twice as fast (up 14 percent, after adjusting for inflation) than that of couples in which only the husband works full-time and the wife does not work (up 7 percent). Consequently, the gap in incomes between these household types has grown. In 1990, the median income of the single-earner couples was 73 percent as high as that of the dual-earner couples. By 2002, it was only 66 percent as high.
Behind the rise for this age group was the growing labor force participation rate among older men. Although median household incomes were lower in 2002 than in 2000, they were still significantly above the levels of 1980 and 1990. The youngest householders experienced the biggest gains between 1990 and 2002. Those under age 25 saw their median income rise 19 percent, after adjusting for inflation. Householders aged 65 or older experienced the smallest gains during those years, a modest 4 percent increase as interest rates fell during the 1990s.