Household Income Drops To Lowest Point Since 1996

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.

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.