Real Median Household Income & Poverty Measures For 2010

Yesterday saw the release of  “Income, Poverty, and Health Insurance Coverage in the United States, 2010″ (pdf) from the U.S. Census Bureau.  Real Median Household Income was $49,445 in 2010, as seen on page 5.  On page 14, the Poverty Rate is seen at 15.1%, encompassing 46.2 million people.

As seen on the chart on page 8, Real Median Household Income has experienced anemic growth for decades.  In 1967 it was roughly $40,000 in real terms.

As stated in a Wall Street Journal article from today, titled “Income Slides to 1996 levels” :

The income of the typical American family—long the envy of much of the world—has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation.

The income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $49,445 in 2010, which is 7.1% below its 1999 peak, the Census Bureau said.

As for the Poverty figures, this measure has been widely criticized.  However, even if one uses the as-stated figures, it is obviously substantial.


The Special Note summarizes my overall thoughts about our economic situation

SPX at 1177.00 as this post is written