By New Strategist Press
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Extra info for American Incomes: Demographics of Who Has Money
The median income of non-Hispanic whites fell by less than 2 percent during those years, while households headed by blacks saw their median income fall 8 percent. Blacks have the lowest median household income, just $30,954 in 2005. The median household income of Hispanics is slightly higher, at $35,967. Asian households have the highest incomes by far, with a median of $61,048 in 2005—well above the $50,784 median of nonHispanic whites. Demographics are behind the income differences by race and Hispanic origin.
9 percent between 2000 and 2005, after adjusting for inﬂation. Behind the growth for this group is the fact that many are elderly and the incomes of older Americans have been rising. ■ Because an investment in education usually provides substantial monetary rewards, a growing proportion of young adults will pursue a college degree. 1 – – – – Note: “–” means data are not available. html; calculations by New Strategist AMERICAN INCOMES 23 Incomes Fell between 2000 and 2005 for Most Household Sizes Small households have made the biggest income gains since 1980.
Asian householders are the best educated, which boosts their incomes. Although household incomes fell between 2000 and 2005, they are still above their 1990 and 1980 levels regardless of race or Hispanic origin. Between 1980 and 2005, black households made the greatest gains—a 28 percent increase in median income, after adjusting for inﬂation. The median income of Hispanic households rose 17 percent during those years, while that of non-Hispanic whites was up 19 percent. ■ As blacks make gains in educational attainment, their median household income should begin to climb again.
American Incomes: Demographics of Who Has Money by New Strategist Press