Household income plummeted in 2009

Household incomes decreased significantly for the second straight year in 2009 as poverty increased and fewer families earned more than $100,000 per year, according to The Washington Post.

Household incomes have fallen 4 percent since the recession began in December 2007, when the median household income was $52,384. Median income fell to $51,726 in 2008 and $50,221 in 2009.

Incomes of $100,000 or more were reported in 19.7 percent of households in 2009. That was down almost a full percentage point compared with 2008. Additionally, almost one in four families earned less than $25,000, increasing one percentage point compared with 2008.

Date : 9/29/2010