Real Median Household Income in 2009 Was $49,777
The US Census Bureau announced earlier this week that real median household income in the United States dropped in 2009 to $49,777. This was down from $50,122 in 2008, and $50,233 in 2007.
It's not very surprising to note that real median household income in the United States has dropped since the beginning of the "Great Recession" in December of 2007.
If you had to guess when the United States hit its peak in terms of inflation adjusted median household income, what year would you guess?
If you said 1999 (which was the height of the dot com bubble), then you would be correct.
Inflation adjusted median household income in the United States in 1999 was $52,587. That's not really a surprise, especially considering the fact that the national unemployment rate was hovering near an outrageously low (relatively speaking) 4%. Times have changed.
If you feel poorer than you did 10 years ago, that's because you probably are.
Some other sobering statistics from the Census Bureau:
-median household income declined in 34 states in 2009, with Michigan posting the sharpest decrease
-portion of population living in poverty grew to 14.3% (from 13.3%), representing an increase of 3.5 million people
-median household income increased in just one state (North Dakota)
Source: U.S. Census Bureau
Source: Davemanuel.com - Median Household Income
Filed under: The Economic Meltdown