The median income of U.S. households fell 2.3% in 2010 to the lowest level since 1996. The weak economy has driven household income down for three straight years, to $49,445 in 2010, a total 6.8% decline since the recession began in December 2007. Hit the jump to read the rest of the story.
@WiL
The government says the recession ended in June 2009.
Poor people and minorities were hit hardest. Median income for black households fell 3.6% to $32,206 while white household income dropped 1.3% to $54,620.
Income fell least for the most affluent households — down 1.2% to $180,810 in 2010 for the top 5% of households. Income declines got increasingly large down the income ladder. The bottom fifth of households — those making $20,000 or less in 2010 — saw incomes decline 3.8% after inflation.
“There is a widening of the gap between the extreme top and bottom,” said Edward Welniak, chief of income statistics at the Census.
