Magazine article Economic Trends

Trends in Household Income over the Past Decade

Magazine article Economic Trends

Trends in Household Income over the Past Decade

Article excerpt

1.11.13

The past decade has been rough for households. The US economy experienced a small recession in 2001, grew rapidly through 2006, and then finished with a massive recession. An investment in the S&P 500 Composite Index made in January of 2001 would have had a negative return in December of 2010.

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Percentage Change in Median Household Real Income by Education Level of
Head of Household (2001-2009)

< 12          -9
High School  -10.2
Bachelor's    -7.3
Master's      -4.1
Doctorate      7.5

Note: Table made from bar graph.

Sources: Bureau of the Census and Haver Analytics.

Percentage Change in Median Household Real Income by Age of Head of
Household (2001-2009)

25-34
35-44
45-54
55-64   2.5
65-74  14
75+    10.6

Note: Table made from bar graph.

Sources: Bureau of the Census and Haver Analytics.

Household income has followed a similar pattern, declining by 2.7 percent in real terms over the period. The decline in income has been widespread across education levels, with the exception of the very top. However, education appears to have offered a considerable degree of insulation from the longer-term trend in income, as the decline of real household income is inversely related to the level of education. …

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