By New Stragetist Editors
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Extra resources for American Incomes: Demographics of Who Has Money
The gap between the incomes of married couples and other household types will shrink as dual-income baby-boom couples retire and their earnings drop.
Among householders with a bachelor’s degree, median income rose 10 percent between 1991 and 2002, compared with a 3 percent decline in the median income of householders who went no further than high school. In 1991, householders with a high school diploma had a median income 58 percent as high as that of college graduates. By 2002, their median income was only 52 percent as high as the median of those with a bachelor’s degree. Although a college degree usually leads to higher earnings, most educational groups were hurt by the recession of 2001.
The median income of American households fell 3 percent between 2000 and 2002, from $43,848 to $42,409, after adjusting for inflation. Behind the loss was the recession of 2001. Some households fared better than others, however. The median income of married couples fell just 1 percent during those years versus a greater than 5 percent decline for male-headed families and men living alone. Despite income losses between 2000 and 2002, the median income of every household type was greater in 2002 than in 1980.
American Incomes: Demographics of Who Has Money by New Stragetist Editors