The change in real before-tax family income between 2001 and 2004 stands in stark contrast to the change for the preceding three-year period. Over the more recent period, mean income
fell 2.3 percent. Over the preceding three-year period, the mean income had
increased 17.3 percent. That’s about a 20% reversal !
The change over the 2001-04 period was strongly influenced by a 6.2 percent decline in the overall median amount of wages measured in the survey and a 3.6 percent decline in the mean; as wages represent the largest share of family income.
http://www.federalreserve.gov/pubs/b...ancesurvey.pdf
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