American Incomes: Demographics of Who Has Money

AMERICAN INCOMES: Demographics of Who Has Money I

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New Strategist Publications, Inc. Ithaca, New York AMERICAN INCOMES: Demographics of Who Has Money III

New Strategist Publications, Inc. P.O. Box 242, Ithaca, New York 14851 800/848-0842; 607/273-0913 www.newstrategist.com

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IV AMERICAN INCOMES: Demographics of Who Has Money

Table of Contents Introduction ........................................................................................................................... 1 Chapter 1. Household Income ................................................................................................. 5 Household Income Trends ............................................................................................... 7 Richest Households Control Large Share of Income ......................................................................... 8 Affluence Is Down from Peak .......................................................................................................... 10 Most Age Groups Have Lost Ground Since 2000 ............................................................................ 16 Every Household Type Has Seen Its Income Decline ...................................................................... 18 Non-Hispanic Whites Have Experienced the Smallest Loss Since 2000 ......................................... 20 College Graduates Have Seen Incomes Rise Since 1991 ................................................................. 22 Single-Person Households Have Advanced in Income Since 1980 ................................................. 24 Having More Earners Results in Higher Incomes ............................................................................ 26 Families with Children Have Lost the Most Since 2000 .................................................................. 28 Working Wives Have Kept Families Afloat ..................................................................................... 30 The Northeast Made Gains during the Recession ............................................................................ 32 Many States Experienced Declines in Median Household Income .................................................. 34

Household Income, 2002 ........................................................................................................... 37 Dual-Earner Married Couples Dominate Affluent Households ....................................................... 38 Median Income of Married Couples Tops $60,000 .......................................................................... 44 Household Income Peaks in the 45-to-54 Age Group ...................................................................... 50 Married Couples Aged 45 to 54 Have the Highest Incomes ............................................................ 56 Incomes of Female-Headed Families Are below Average ............................................................... 62 Male-Headed Families Have Average Incomes ............................................................................... 68 Women Living Alone Have the Lowest Incomes ............................................................................. 74 Incomes Are Low for Men Who Live Alone .................................................................................... 80 Two-Income Households Have Above-Average Incomes ................................................................ 86 Married Couples with School-Aged Children Have the Highest Incomes ....................................... 92 Dual Earners Dominate Married Couples ........................................................................................ 98 Female-Headed Families without Children Have Higher Incomes ................................................ 102 Male-Headed Families without Children Have Higher Incomes ................................................... 108 Household Incomes Rise with Education ....................................................................................... 115 Household Incomes Are Highest in New England ......................................................................... 120 Among Blacks, Household Incomes Are Highest in the West ....................................................... 126 Household Incomes Are Highest in Maryland ............................................................................... 131 Suburban Households Have the Highest Incomes .......................................................................... 133

Chapter 2. Men’s Income .................................................................................................... 135 Men’s Income Trends .................................................................................................... 137 Men’s Incomes Have Declined in Almost Every Age Group Since 2000 ...................................... 138 Black Men Have Gained Ground Since 1980 ................................................................................ 140

AMERICAN INCOMES: Demographics of Who Has Money V

In Every Region, Men Have Lost Ground Since 2000 ................................................................... 142 Men’s Earnings Fell between 2000 and 2002 ................................................................................. 144 Black Men Earn More than Hispanics ............................................................................................ 146 Even Educated Men Lost Ground between 2000 and 2002 ........................................................... 148 Many Professional Workers Have Seen Earnings Decline Since 2000 .......................................... 150

Men’s Income, 2002 .................................................................................................................. 153 Income Peaks among Men Aged 45 to 54 ...................................................................................... 154 Men in the South Have the Lowest Incomes .................................................................................. 161 Men in the Suburbs Have the Highest Incomes ............................................................................. 167 Most Men Have Modest Earnings .................................................................................................. 169 Men’s Earnings Rise with Education ............................................................................................. 175 Education Boosts Earnings Regardless of Race ............................................................................. 182 Men’s Earnings Vary Widely by Occupation ................................................................................. 187 Three Out of Four Men Receive Wage and Salary Income ............................................................ 190

Chapter 3. Women’s Income ............................................................................................... 197 Women’s Income Trends ............................................................................................... 199 Middle-Aged Women Made Gains between 2000 and 2002 .......................................................... 200 The Incomes of Black Women Have Grown Fastest Since 2000 ................................................... 202 Women in the Midwest Have Seen the Biggest Gains ................................................................... 204 The Earnings of Working Women Are Up ...................................................................................... 206 The Earnings of Black Women Are Rising .................................................................................... 208 Education Does Not Guarantee Earnings Growth .......................................................................... 210 Women in Most Occupations Have Gained Ground ...................................................................... 212 Women Are Closing the Gap .......................................................................................................... 214 Eight Million Wives Earn More than Their Husbands ................................................................... 216

Women’s Income, 2002 ............................................................................................................ 219 Women’s Incomes Peak in the 45-to-54 Age Group ...................................................................... 220 Among Women Who Work Full-Time, Incomes Are Highest in the Northeast ............................. 227 Women in Nonmetropolitan Areas Have the Lowest Incomes ....................................................... 233 Women Earn Little from Part-Time Work ...................................................................................... 235 Women with Doctoral Degrees Earn the Most ............................................................................... 241 Education Boosts Earnings of Women Regardless of Race ........................................................... 248 Among Women, Lawyers Earn the Most ....................................................................................... 253 Two-Thirds of Women Receive Wage and Salary Income ............................................................. 256

Chapter 4. Discretionary Income ......................................................................................... 263 Nearly All Households Have Discretionary Income ...................................................................... 265 Discretionary Income Peaks in Middle Age ................................................................................... 267 Empty-Nesters Have the Most Discretionary Income .................................................................... 269 Asian Households Have the Most Discretionary Income ............................................................... 271 Discretionary Income Is Highest in the Northeast ......................................................................... 273 The College Educated Control Most Discretionary Income .......................................................... 275 Small Households Control Most Discretionary Income ................................................................. 277

VI AMERICAN INCOMES: Demographics of Who Has Money

Chapter 5. Wealth ............................................................................................................. 279 Net Worth Rose for Most Households between 1989 and 2001 ..................................................... 280 Financial Assets Have Grown Rapidly ........................................................................................... 282 Big Gains in Stock Ownership Since 1989 .................................................................................... 286 Nonfinancial Assets Are Most Important to Households ............................................................... 289 Most Households Have Debt .......................................................................................................... 293

Chapter 6. Poverty ............................................................................................................ 297 Poverty Trends ........................................................................................................................... 299 Women Head Half the Nation’s Poor Families .............................................................................. 300 Since 1980, Poverty Rates Have Fallen for Most Families ............................................................ 302 Female-Headed Families with Children Are Less Likely to Be Poor ............................................ 307 Poverty Rates Rose between 2000 and 2002 .................................................................................. 312 A Growing Share of Poor People Are Aged 18 to 64 ..................................................................... 314 Non-Hispanic Whites Are a Minority of Poor ................................................................................ 317 Poverty Has Grown in the West ..................................................................................................... 320 Poverty Has Increased in Most States Since 2000 ......................................................................... 323 A Growing Share of the Poor Live in Metropolitan Areas ............................................................. 326 Many of the Poor Have Jobs .......................................................................................................... 329

Poverty, 2002 .............................................................................................................................. 331 Few Households with Two Earners Are Poor ................................................................................. 332 Poverty Rate Is Highest for Central City Families ......................................................................... 337 Nearly One in Four Americans Lives in a Household Receiving Poverty Assistance ........................................................................................................ 340 Non-Hispanic Whites Dominate Elderly Poor ............................................................................... 346 Poverty Rate Is Highest among Children and Young Adults ......................................................... 348 Poverty Rate Varies by Family Status and Age .............................................................................. 354 Poverty Is Highest in the South ...................................................................................................... 365 Nearly One-Third of Nation’s Poor Live in Three States ............................................................... 368 One in Four Children Living in Central Cities Is Poor .................................................................. 371 Many Young Adult Workers Are Poor ............................................................................................ 374 More than One-Fourth of the Nonworking Poor Are Ill or Disabled ............................................. 380

Glossary .............................................................................................................................. 383 Index .................................................................................................................................. 387

AMERICAN INCOMES: Demographics of Who Has Money VII

List of Tables Chapter 1. Household Income Household Income Trends 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16

Share of Aggregate Income Received by Each fifth and Top 5 Percent of Households, 1980 to 2002 ............................................................................................ 9 Distribution of Households by Income, 1980 to 2002: Total Households ............................................. 11 Distribution of Households by Income, 1980 to 2002: Asian Households ............................................ 12 Distribution of Households by Income, 1980 to 2002: Black Households ........................................... 13 Distribution of Households by Income, 1980 to 2002: Hispanic Households ...................................... 14 Distribution of Households by Income, 1980 to 2002: Non-Hispanic White Households .................... 15 Median Income of Households by Age of Householder, 1980 to 2002 ................................................. 17 Median Income of Households by Type of Household, 1980 to 2002 .................................................. 19 Median Income of Households by Race and Hispanic Origin of Householder, 1980 to 2002 .............. 21 Median Income of Households by Education of Householder, 1991 to 2002 ....................................... 23 Median Income of Households by Size, 1980 to 2002 .......................................................................... 25 Median Income of Households by Number of Earners, 1987 to 2002 .................................................. 27 Median Income of Families by Type and Presence of Children, 1980 to 2002 ..................................... 29 Median Income of Married Couples by Work Experience, 1987 to 2002 ............................................. 31 Median Income of Households by Region, 1980 to 2002 ..................................................................... 33 Median Income of Households by State, 1991–1992 to 2001–2002 ..................................................... 35

Household Income, 2002 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 1.25 1.26 1.27 1.28 1.29 1.30 1.31 1.32 1.33

Distribution of Households within Income Quintiles by Household Characteristic, 2002 ................... 39 Distribution of Household Characteristics by Income Quintile, 2002 ................................................... 41 High-Income Households by Race and Hispanic Origin, 2002 ............................................................. 43 Households by Income and Household Type, 2002: Total Households ................................................ 45 Households by Income and Household Type, 2002: Asian Households ............................................... 46 Households by Income and Household Type, 2002: Black Households ............................................... 47 Households by Income and Household Type, 2002: Hispanic Households .......................................... 48 Households by Income and Household Type, 2002: Non-Hispanic White Households ....................... 49 Households by Income and Age of Householder, 2002: Total Households ........................................... 51 Households by Income and Age of Householder, 2002: Asian Households .......................................... 52 Households by Income and Age of Householder, 2002: Black Households ......................................... 53 Households by Income and Age of Householder, 2002: Hispanic Households .................................... 54 Households by Income and Age of Householder, 2002: Non-Hispanic White Households .................. 55 Married Couples by Household Income and Age of Householder, 2002: Total Married Couples ........ 57 Married Couples by Household Income and Age of Householder, 2002: Asian Married Couples ....... 58 Married Couples by Household Income and Age of Householder, 2002: Black Married Couples ....... 59 Married Couples by Household Income and Age of Householder, 2002: Hispanic Married Couples ..................................................................................................................... 60 1.34 Married Couples by Household Income and Age of Householder, 2002: Non-Hispanic White Married Couples .................................................................................................. 61

VIII AMERICAN INCOMES: Demographics of Who Has Money

1.35 Female-Headed Families by Household Income and Age of Householder, 2002: Total Female-Headed Families .............................................................................................................. 63 1.36 Female-Headed Families by Household Income and Age of Householder, 2002: Asian Female-Headed Families ............................................................................................................. 64 1.37 Female-Headed Families by Household Income and Age of Householder, 2002: Black Female-Headed Families ............................................................................................................. 65 1.38 Female-Headed Families by Household Income and Age of Householder, 2002: Hispanic Female-Headed Families ........................................................................................................ 66 1.39 Female-Headed Families by Household Income and Age of Householder, 2002: Non-Hispanic White Female-Headed Families ..................................................................................... 67 1.40 Male-Headed Families by Household Income and Age of Householder, 2002: Total Male-Headed Families .................................................................................................................. 69 1.41 Male-Headed Families by Household Income and Age of Householder, 2002: Asian Male-Headed Families ................................................................................................................. 70 1.42 Male-Headed Families by Household Income and Age of Householder, 2002: Black Male-Headed Families ................................................................................................................. 71 1.43 Male-Headed Families by Household Income and Age of Householder, 2002: Hispanic Male-Headed Families ............................................................................................................ 72 1.44 Male-Headed Families by Household Income and Age of Householder, 2002: Non-Hispanic White Male-Headed Families ......................................................................................... 73 1.45 Women Living Alone by Household Income and Age of Householder, 2002: Total Women Living Alone .................................................................................................................... 75 1.46 Women Living Alone by Household Income and Age of Householder, 2002: Asian Women Living Alone ................................................................................................................... 76 1.47 Women Living Alone by Household Income and Age of Householder, 2002: Black Women Living Alone ................................................................................................................... 77 1.48 Women Living Alone by Household Income and Age of Householder, 2002: Hispanic Women Living Alone .............................................................................................................. 78 1.49 Women Living Alone by Household Income and Age of Householder, 2002: Non-Hispanic White Women Living Alone ........................................................................................... 79 1.50 Men Living Alone by Household Income and Age of Householder, 2002: Total Men Living Alone ......................................................................................................................... 81 1.51 Men Living Alone by Household Income and Age of Householder, 2002: Asian Men Living Alone ....................................................................................................................... 82 1.52 Men Living Alone by Household Income and Age of Householder, 2002: Black Men Living Alone ....................................................................................................................... 83 1.53 Men Living Alone by Household Income and Age of Householder, 2002: Hispanic Men Living Alone ................................................................................................................... 84 1.54 Men Living Alone by Household Income and Age of Householder, 2002: Non-Hispanic White Men Living Alone ................................................................................................ 85 1.55 Households by Income and Number of Earners, 2002: Total Households ............................................ 87 1.56 Households by Income and Number of Earners, 2002: Asian Households ........................................... 88 1.57 Households by Income and Number of Earners, 2002: Black Households ........................................... 89 1.58 Households by Income and Number of Earners, 2002: Hispanic Households ...................................... 90 1.59 Households by Income and Number of Earners, 2002: Non-Hispanic White Households ................... 91

AMERICAN INCOMES: Demographics of Who Has Money IX

1.60 Married Couples by Household Income and Presence of Children, 2002: Total Married Couples ........................................................................................................................... 93 1.61 Married Couples by Household Income and Presence of Children, 2002: Asian Married Couples .......................................................................................................................... 94 1.62 Married Couples by Household Income and Presence of Children, 2002: Black Married Couples .......................................................................................................................... 95 1.63 Married Couples by Household Income and Presence of Children, 2002: Hispanic Married Couples ..................................................................................................................... 96 1.64 Married Couples by Household Income and Presence of Children, 2002: Non-Hispanic White Married Couples .................................................................................................. 97 1.65 Dual-Income Married Couples by Household Income and Presence of Children, 2002: Husband and Wife Work ........................................................................................................................ 99 1.66 Dual-Income Married Couples by Household Income and Presence of Children, 2002: Husband and Wife Work Full-Time ..................................................................................................... 100 1.67 Single-Income Married Couples by Household Income and Presence of Children, 2002: Husband Works Full-Time, Wife Does Not Work ............................................................................... 101 1.68 Female-Headed Families by Household Income and Presence of Children, 2002: Total Female-Headed Families ............................................................................................................ 103 1.69 Female-Headed Families by Household Income and Presence of Children, 2002: Asian Female-Headed Families ........................................................................................................... 104 1.70 Female-Headed Families by Household Income and Presence of Children, 2002: Black Female-Headed Families ........................................................................................................... 105 1.71 Female-Headed Families by Household Income and Presence of Children, 2002: Hispanic Female-Headed Families ...................................................................................................... 106 1.72 Female-Headed Families by Household Income and Presence of Children, 2002: Non-Hispanic White Female-Headed Families ................................................................................... 107 1.73 Male-Headed Families by Household Income and Presence of Children, 2002: Total Male-Headed Families ................................................................................................................ 109 1.74 Male-Headed Families by Household Income and Presence of Children, 2002: Asian Male-Headed Families ............................................................................................................... 110 1.75 Male-Headed Families by Household Income and Presence of Children, 2002: Black Male-Headed Families ............................................................................................................... 111 1.76 Male-Headed Families by Household Income and Presence of Children, 2002: Hispanic Male-Headed Families .......................................................................................................... 112 1.77 Male-Headed Families by Household Income and Presence of Children, 2002: Non-Hispanic White Male-Headed Families ....................................................................................... 113 1.78 Households by Income and Educational Attainment of Householder, 2002: Total Households ................................................................................................................................. 115 1.79 Households by Income and Educational Attainment of Householder, 2002: Asian Households ................................................................................................................................ 116 1.80 Households by Income and Educational Attainment of Householder, 2002: Black Households ................................................................................................................................ 117 1.81 Households by Income and Educational Attainment of Householder, 2002: Hispanic Households ........................................................................................................................... 118 1.82 Households by Income and Educational Attainment of Householder, 2002: Non-Hispanic White Households ........................................................................................................ 119

X AMERICAN INCOMES: Demographics of Who Has Money

1.83 1.84 1.85 1.86 1.87 1.88 1.89 1.90 1.91 1.92 1.93

Households by Income and Region, 2002 ........................................................................................... 121 Households by Income, Region, and Division, 2002: Northeast ......................................................... 122 Households by Income, Region, and Division, 2002: Midwest .......................................................... 123 Households by Income, Region, and Division, 2002: South ............................................................... 124 Households by Income, Region, and Division, 2002: West ................................................................ 125 Households by Income, Region, Race, and Hispanic Origin, 2002: Northeast ................................... 127 Households by Income, Region, Race, and Hispanic Origin, 2002: Midwest .................................... 128 Households by Income, Region, Race, and Hispanic Origin, 2002: South ......................................... 129 Households by Income, Region, Race, and Hispanic Origin, 2002: West ........................................... 130 Median Household Income by State, 2000–02 .................................................................................... 132 Households by Income and Metropolitan Residence, 2002 ................................................................ 134

Chapter 2. Men’s Income Men’s Income Trends 2.1 2.2 2.3 2.4 2.5 2.6 2.7

Median Income of Men by Age, 1980 to 2002 .................................................................................... 139 Median Income of Men by Race and Hispanic Origin, 1980 to 2002 ................................................. 141 Median Income of Men by Region, 1980 to 2002 ............................................................................... 143 Median Earnings of Men by Work Experience, 1980 to 2002 ............................................................ 145 Median Earnings of Men Who Work Full-Time by Race and Hispanic Origin, 1980 to 2002 ........... 147 Median Earnings of Men Who Work Full-Time by Education, 1991 to 2002 .................................... 149 Median Earnings of Men Who Work Full-Time by Occupation, 1990 to 2001 .................................. 151

Men’s Income, 2002 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21 2.22 2.23 2.24 2.25 2.26 2.27 2.28 2.29

Men by Income and Age, 2002: Total Men ......................................................................................... 155 Men by Income and Age, 2002: Asian Men ........................................................................................ 156 Men by Income and Age, 2002: Black Men ........................................................................................ 157 Men by Income and Age, 2002: Hispanic Men ................................................................................... 158 Men by Income and Age, 2002: Non-Hispanic White Men ................................................................ 159 Men by Income, Race, and Hispanic Origin, 2002 .............................................................................. 160 Men by Income and Region, 2002: Total Men .................................................................................... 162 Men by Income and Region, 2002: Asian Men ................................................................................... 163 Men by Income and Region, 2002: Black Men ................................................................................... 164 Men by Income and Region, 2002: Hispanic Men .............................................................................. 165 Men by Income and Region, 2002: Non-Hispanic White Men ........................................................... 166 Men by Income and Metropolitan Residence, 2002 ............................................................................ 168 Men by Earnings and Work Experience, 2002: Total Men .................................................................. 170 Men by Earnings and Work Experience, 2002: Asian Men ................................................................. 171 Men by Earnings and Work Experience, 2002: Black Men ................................................................. 172 Men by Earnings and Work Experience, 2002: Hispanic Men ............................................................ 173 Men by Earnings and Work Experience, 2002: Non-Hispanic White Men ......................................... 174 Men Who Work Full-Time by Earnings and Education, 2002: Total Men .......................................... 176 Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 25 to 34 ........................... 177 Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 35 to 44 ........................... 178 Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 45 to 54 ........................... 179 Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 55 to 64 ........................... 180

AMERICAN INCOMES: Demographics of Who Has Money XI

2.30 2.31 2.32 2.33 2.34 2.35 2.36 2.37 2.38 2.39 2.40

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 65 or Older ...................... 181 Men Who Work Full-Time by Earnings and Education, 2002: Asian Men ......................................... 183 Men Who Work Full-Time by Earnings and Education, 2002: Black Men ......................................... 184 Men Who Work Full-Time by Earnings and Education, 2002: Hispanic Men .................................... 185 Men Who Work Full-Time by Earnings and Education, 2002: Non-Hispanic White Men ................. 186 Median Earnings of Men by Occupation, 2002 ................................................................................... 188 Average Income of Men by Source of Income, 2002: Total Men ........................................................ 191 Average Income of Men by Source of Income, 2002: Asian Men ...................................................... 192 Average Income of Men by Source of Income, 2002: Black Men ...................................................... 193 Average Income of Men by Source of Income, 2002: Hispanic Men ................................................. 194 Average Income of Men by Source of Income, 2002: Non-Hispanic White Men .............................. 195

Chapter 3. Women’s Income Women’s Income Trends 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9

Median Income of Women by Age, 1980 to 2002 ............................................................................... 201 Median Income of Women by Race and Hispanic Origin, 1980 to 2002 ............................................ 203 Median Income of Women by Region, 1980 to 2002 .......................................................................... 205 Median Earnings of Women by Work Experience, 1980 to 2002 ........................................................ 207 Median Earnings of Women Who Work Full-Time by Race and Hispanic Origin, 1980 to 2002 ...... 209 Median Earnings of Women Who Work Full-Time by Education, 1991 to 2002 ................................ 211 Median Earnings of Women Who Work Full-Time by Occupation, 1990 to 2001 ............................. 213 Women’s Earnings as a Percentage of Men’s Earnings, 1980 to 2002 ................................................ 215 Wives Who Earn More than Their Husbands, 1981 to 2001 ............................................................... 217

Women’s Income, 2002 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18 3.19 3.20 3.21 3.22 3.23 3.24 3.25 3.26 3.27 3.28 3.29 3.30

Women by Income and Age, 2002: Total Women ............................................................................... 221 Women by Income and Age, 2002: Asian Women .............................................................................. 222 Women by Income and Age, 2002: Black Women .............................................................................. 223 Women by Income and Age, 2002: Hispanic Women ......................................................................... 224 Women by Income and Age, 2002: Non-Hispanic White Women ...................................................... 225 Women by Income, Race, and Hispanic Origin, 2002 ......................................................................... 226 Women by Income and Region, 2002: Total Women .......................................................................... 228 Women by Income and Region, 2002: Asian Women ......................................................................... 229 Women by Income and Region, 2002: Black Women ......................................................................... 230 Women by Income and Region, 2002: Hispanic Women .................................................................... 231 Women by Income and Region, 2002: Non-Hispanic White Women ................................................. 232 Women by Income and Metropolitan Residence, 2002 ....................................................................... 234 Women by Earnings and Work Experience, 2002: Total Women ........................................................ 236 Women by Earnings and Work Experience, 2002: Asian Women ....................................................... 237 Women by Earnings and Work Experience, 2002: Black Women ....................................................... 238 Women by Earnings and Work Experience, 2002: Hispanic Women .................................................. 239 Women by Earnings and Work Experience, 2002: Non-Hispanic White Women ............................... 240 Women Who Work Full-Time by Earnings and Education, 2002: Total Women ................................ 242 Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 25 to 34 ................. 243 Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 35 to 44 ................. 244 Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 45 to 54 ................. 245

XII AMERICAN INCOMES: Demographics of Who Has Money

3.31 3.32 3.33 3.34 3.35 3.36 3.37 3.38 3.39 3.40 3.41 3.42

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 55 to 64 ................. 246 Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 65 or Older ............ 247 Women Who Work Full-Time by Earnings and Education, 2002: Asian Women ............................... 249 Women Who Work Full-Time by Earnings and Education, 2002: Black Women ............................... 250 Women Who Work Full-Time by Earnings and Education, 2002: Hispanic Women .......................... 251 Women Who Work Full-Time by Earnings and Education, 2002: Non-Hispanic White Women ....... 252 Median Earnings of Women by Occupation, 2002 .............................................................................. 254 Average Income of Women by Source of Income, 2002: Total Women .............................................. 257 Average Income of Women by Source of Income, 2002: Asian Women ............................................. 258 Average Income of Women by Source of Income, 2002: Black Women ............................................ 259 Average Income of Women by Source of Income, 2002: Hispanic Women ....................................... 260 Average Income of Women by Source of Income, 2002: Non-Hispanic White Women ..................... 261

Chapter 4. Discretionary Income 4.1 4.2 4.3 4.4 4.5 4.6 4.7

Households with Discretionary Income by Household Income, 2002 ................................................ 266 Households with Discretionary Income by Age of Householder, 2002 ............................................... 268 Households with Discretionary Income by Household Type, 2002 .................................................... 270 Households with Discretionary Income by Race and Hispanic Origin, 2002 ..................................... 272 Households with Discretionary Income by Region, 2002 ................................................................... 274 Households with Discretionary Income by Education, 2002 .............................................................. 276 Households with Discretionary Income by Household Size, 2002 ..................................................... 278

Chapter 5. Wealth 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8

Net Worth of Households, 1989 to 2001 ............................................................................................. 281 Financial Assets of Households, 1989 to 2001 .................................................................................... 283 Ownership of Financial Assets, 2001 .................................................................................................. 284 Stock Ownership by Age of Householder, 1989 to 2001 ..................................................................... 287 Nonfinancial Assets of Householders, 1989 to 2001 ........................................................................... 290 Ownership of Nonfinancial Assets, 2001 ............................................................................................ 291 Debt of Households, 1989 to 2001 ...................................................................................................... 294 Households with Debt, 2001 ................................................................................................................ 295

Chapter 6. Poverty Poverty Trends 6.1 6.2 6.3 6.4 6.5 6.6

Distribution of Families below Poverty Level by Family Type, 1980 to 2002 ................................... 301 Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Total Families ......................................................................................... 303 Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Black Families ........................................................................................ 304 Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Hispanic Families ................................................................................... 305 Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Non-Hispanic White Families ................................................................ 306 Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Total Families ......................................................................................... 308

AMERICAN INCOMES: Demographics of Who Has Money XIII

6.7 6.8 6.9 6.10 6.11 6.12 6.13 6.14 6.15 6.16 6.17 6.18 6.19 6.20

Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Black Families ........................................................................................ 309 Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Hispanic Families ................................................................................... 310 Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Non-Hispanic White Families ................................................................ 311 Number and Percent of People below Poverty Level by Sex, 1980 to 2002 ....................................... 313 Distribution of People below Poverty Level by Age, 1980 to 2002 .................................................... 315 Number and Percent of People below Poverty Level by Age, 1980 to 2002 ...................................... 316 Distribution of People below Poverty Level by Race and Hispanic Origin, 1980 to 2002 ................. 318 Number and Percent of People below Poverty Level by Race and Hispanic Origin, 1980 to 2002 ... 319 Distribution of People below Poverty Level by Region, 1980 to 2002 ............................................... 321 Number and Percent of People below Poverty Level by Region, 1980 to 2002 ................................. 322 Poverty Rates by State, 1980 to 2002 .................................................................................................. 324 Distribution of People below Poverty Level by Metropolitan Residence, 1980 to 2002 .................... 327 Number and Percent of People below Poverty Level by Metropolitan Residence, 1980 to 2002 ....... 328 People below Poverty Level by Work Status, 1980 to 2002 ................................................................ 330

Poverty, 2002 6.21 Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002 ............................. 333 6.22 Married Couples below Poverty Level by Work Status, Race, and Hispanic Origin, 2002 ................ 334 6.23 Female-Headed Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002 ................................................................................................................... 335 6.24 Male-Headed Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002 ....... 336 6.25 Families below Poverty Level by Region, Metropolitan Status, Race, and Hispanic Origin, 2002 .... 338 6.26 Families with Children below Poverty Level by Region, Metropolitan Status, Race, and Hispanic Origin, 2002 ......................................................................................................... 339 6.27 People in Households Participating in Antipoverty Programs, 2002: Total People ............................ 341 6.28 People in Households Participating in Antipoverty Programs, 2002: Asians ...................................... 342 6.29 People in Households Participating in Antipoverty Programs, 2002: Blacks ..................................... 343 6.30 People in Households Participating in Antipoverty Programs, 2002: Hispanics ................................. 344 6.31 People in Households Participating in Antipoverty Programs, 2002: Non-Hispanic Whites .............. 345 6.32 People below Poverty Level by Age, Race, and Hispanic Origin, 2002 ............................................. 347 6.33 People below Poverty Level by Age and Sex, 2002: Total People ...................................................... 349 6.34 People below Poverty Level by Age and Sex, 2002: Asians ............................................................... 350 6.35 People below Poverty Level by Age and Sex, 2002: Blacks ............................................................... 351 6.36 People below Poverty Level by Age and Sex, 2002: Hispanics .......................................................... 352 6.37 People below Poverty Level by Age and Sex, 2002: Non-Hispanic Whites ....................................... 353 6.38 People below Poverty Level by Age and Family status, 2002: Total People ...................................... 355 6.39 People below Poverty Level by Age and Family status, 2002: Asians ................................................ 357 6.40 People below Poverty Level by Age and Family status, 2002: Blacks ................................................ 359 6.41 People below Poverty Level by Age and Family status, 2002: Hispanics ........................................... 361 6.42 People below Poverty Level by Age and Family status, 2002: Non-Hispanic Whites ........................ 363 6.43 People below Poverty Level by Age and Region, 2002 ...................................................................... 366 6.44 People below Poverty Level by Region, Race, and Hispanic Origin, 2002 ........................................ 367 6.45 People below Poverty Level by State, 2002 ........................................................................................ 369

XIV AMERICAN INCOMES: Demographics of Who Has Money

6.46 People below Poverty Level by Age and Metropolitan Status, 2002 .................................................. 372 6.47 People below Poverty Level by Metropolitan Area, 2002 ................................................................... 373 6.48 Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Total People .......................................................................................................... 375 6.49 Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Asians ................................................................................................................... 376 6.50 Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Blacks ................................................................................................................... 377 6.51 Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Hispanics .............................................................................................................. 378 6.52 Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Non-Hispanic Whites ........................................................................................... 379 6.53 People below Poverty Level by Reason for Not Working, 2002 ......................................................... 381

AMERICAN INCOMES: Demographics of Who Has Money XV

List of Charts Chapter 1. Household Income Household Income Trends The richest households control more income ..................................................................................................... 8 One in seven households has an income of $100,000 or more ........................................................................ 10 Householders aged 55 to 64 are the only ones to gain since 2000 ................................................................... 16 Married couples have lost the least ground since 2000 .................................................................................... 18 Blacks made substantial income gains between 1990 and 2002 ...................................................................... 20 High school graduates have lost ground ........................................................................................................... 22 Single-person households have lost ground since 2000 ................................................................................... 24 Incomes of two-earner households are on the rise ........................................................................................... 26 Male-headed families fared the worst .............................................................................................................. 28 The income gap between dual- and single-earner couples is growing ............................................................. 30 The Midwest has been the biggest income loser since 2000 ............................................................................ 32 Massachusetts is the biggest gainer, Mississippi the biggest loser ................................................................... 34

Household Income, 2002 The more earners in a household, the higher the income ................................................................................. 38 Women who live alone have the lowest incomes ............................................................................................. 44 Incomes are lowest for the oldest householders ............................................................................................... 50 Among married couples, Asians have the highest incomes ............................................................................. 56 Incomes peak in middle age for female-headed families ................................................................................. 62 Among male-headed families, Asians have the highest incomes ..................................................................... 68 Among women who live alone, those aged 25 to 44 have the highest incomes .............................................. 74 Among men who live alone, incomes peak in the 35-to-44 age group ............................................................ 80 Households with three or more earners have the highest incomes ................................................................... 86 Couples with school-aged children are the most affluent ................................................................................ 92 Dual-earner empty-nesters are the nation’s income elite ................................................................................. 98 Female-headed families with children have low incomes .............................................................................. 102 Incomes vary for male-headed families ......................................................................................................... 108 Education boosts income ................................................................................................................................ 114 Incomes are lowest in the South ..................................................................................................................... 120 In the South, blacks have the lowest incomes ................................................................................................ 126 High-income states can be found in every region .......................................................................................... 131 Nonmetropolitan households have the lowest incomes .................................................................................. 133

Chapter 2. Men’s Income Men’s Income Trends The median income of men aged 55 to 64 grew between 2000 and 2002 ..................................................... 138 Hispanic men have gained the least since 1980 ............................................................................................. 140 Since 1980, men’s incomes have grown the most in the South ...................................................................... 142

XVI AMERICAN INCOMES: Demographics of Who Has Money

Men working full-time, year-round are struggling to get ahead .................................................................... 144 Black men pulled ahead, while Hispanics fell behind .................................................................................... 146 Between 2000 and 2002, the median earnings of men with doctoral degrees rose the most ......................... 148 The recession affected men differently depending on occupation ................................................................. 150

Men’s Income, 2002 For men working full-time, income peaks among those aged 65 or older ..................................................... 154 Men’s incomes are highest in the Northeast ................................................................................................... 161 Men in nonmetropolitan areas have the lowest incomes ................................................................................ 167 Most men earn less than $50,000 per year ..................................................................................................... 169 A college diploma continues to be worth its cost ........................................................................................... 175 Among the college-educated, non-Hispanic white men earn the most .......................................................... 182 Career choice affects earnings ........................................................................................................................ 187 Wage and salary income is most common ..................................................................................................... 190

Chapter 3. Women’s Income Women’s Income Trends Women’s incomes in 2002 were far above the level of 1990 ......................................................................... 200 Hispanic women saw the biggest income gains between 2000 and 2002 ...................................................... 202 Women’s median income grew more slowly in the West ............................................................................... 204 The earnings of full-time, year-round workers grew more slowly than average between 1990 and 2002 .... 206 Among women, earnings are growing faster for blacks than for Hispanics .................................................. 208 Since 1991, earnings have grown the most for women with doctorates ........................................................ 210 Women’s fortunes vary by occupation ........................................................................................................... 212 Men’s and women’s earnings are becoming more alike ................................................................................. 214 More wives are outearning their husbands ..................................................................................................... 216

Women’s Income, 2002 Among women working full-time, incomes peak in the middle and older age groups .................................. 220 Women’s median income tops $33,000 only in the Northeast ....................................................................... 227 Women in the suburbs have the highest incomes ........................................................................................... 233 Among women working full-time, Asians have the highest median earnings ............................................... 235 Women’s earnings rise with education ........................................................................................................... 241 Among women with a bachelor’s degree, earnings are similar by race and Hispanic origin ........................ 248 Women’s earnings vary by occupation ........................................................................................................... 253 Few women receive retirement income .......................................................................................................... 256

Chapter 4. Discretionary Income Discretionary income rises with income ........................................................................................................ 265 Discretionary income per capita peaks in the 55-to-64 age group ................................................................. 267 People living alone control a substantial share of discretionary income ........................................................ 269 American Indian households have the smallest amount of discretionary income .......................................... 271 The South controls the largest share of discretionary income ........................................................................ 273 Discretionary income rises steadily with education ....................................................................................... 275 Households with four or more people control only one-third of discretionary income ................................. 277

AMERICAN INCOMES: Demographics of Who Has Money XVII

Chapter 5. Wealth Net worth peaks among older Americans ....................................................................................................... 280 The value of retirement accounts is modest ................................................................................................... 282 Stock ownership is highest in the 35-to-54 age group ................................................................................... 286 Homes are the most commonly owned nonfinancial asset after vehicles ...................................................... 289 Debt falls with age as households pay off their mortgages ............................................................................ 293

Chapter 6. Poverty Poverty Trends Married couples are a minority of poor families ............................................................................................ 300 The poverty rate has fallen the most for black families since 1980 ............................................................... 302 Poverty is down for female-headed families with children since 1980 .......................................................... 307 The poverty rate was up in 2002, but still below 1980 and 1990 levels ........................................................ 312 The poverty rate has fallen since 1980 for children and older Americans ..................................................... 314 Poverty rate is down sharply among blacks ................................................................................................... 317 Nearly one in four poor Americans lives in the West ..................................................................................... 320 In 2002, Arkansas had the highest poverty rate and New Hampshire the lowest .......................................... 323 The suburbs of metropolitan areas are home to a growing share of poor Americans .................................... 326 The number of working poor has grown ........................................................................................................ 329

Poverty, 2002 Poverty is less likely for families with two or more workers ......................................................................... 332 Many families in nonmetropolitan areas are poor .......................................................................................... 337 Medicaid is the antipoverty program with the greatest number of participants ............................................. 340 Non-Hispanic whites account for the majority of poor people aged 65 or older ........................................... 346 Poverty rate is highest for people under age 25 ............................................................................................. 348 People who live alone or with nonrelatives account for a large share of the poor ......................................... 354 Poverty rate is lowest in the Midwest ............................................................................................................ 365 The majority of poor Americans live in just nine states ................................................................................. 368 Poverty rate is highest in central cities ........................................................................................................... 371 Among black and Hispanic workers, more than one in ten is poor ................................................................ 374 Many of the poor are too sick to work ........................................................................................................... 380

XVIII AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME

American Incomes

Introduction For many Americans, these are not the best of times. Incomes have declined, poverty has risen, and discretionary income has fallen. The turmoil of the past few years, which followed one of the biggest economic booms in our nation’s history, has been a blunt reminder that good times do not last forever. One often-overlooked factor behind the good times of the 1990s was the enormous baby-boom generation filling the peak earning and spending age groups. Today, the situation is changed. Boomers are becoming empty-nesters, and in just a few years they will begin to retire. While boomer incomes and spending propped up the consumer economy of the 1990s, boomer retirees could be a drag on the economy of the coming decades. The demographic trends that worked in our favor in the 1990s will begin to work against us, making the determination of the real economic status of Americans much more complex. Researchers, businesses, and government policymakers will need to look beyond the averages to determine the trends. American Incomes: The Demographics of Who Has Money can help them do just that. The fifth edition of American Incomes explores and explains the economic status of Americans. It looks at household income trends by age, household type, race and ethnicity, education, region, and work status. It examines trends in the incomes of men and women by a variety of demographic characteristics. It includes an analysis of hard-to-get discretionary income figures, produced by New Strategists’ statisticians specifically for this book. It provides the latest data on the wealth of American households. The poverty population is also a focus of American Incomes. New to this edition are expanded tables exploring the economic status of Asians, one of the fastest-growing minorities in the United States. American Incomes reveals the economic consequences of the many technological and social changes that have transformed the workplace, family life, and the roles of men and women. It reveals who is pulling ahead and who is falling behind. Raw income statistics are available by the bucketful on the government’s web sites, but their volume and format are a challenge for researchers who want to explore and analyze the trends. The shift from printed reports to web sites over the past decade—while convenient for number crunchers— has made income analysis a bigger chore. For researchers, it has become more time-consuming than ever to get no-nonsense answers to their questions about the economic status of Americans. American Incomes has the answers. It has the numbers and the stories behind them. Thumbing through its pages, you can gain more insight into the economic well-being of

AMERICAN INCOMES: Demographics of Who Has Money 1

Americans than you could by spending all afternoon surfing databases on the Internet. By having it on your bookshelf, you can get the answers to your questions even faster than you can online.

How to Use This Book American Incomes is designed for easy use. It is divided into six chapters, each of which provides an abundance of data about Americans and their money. The chapters are Household Income, Men’s Income, Women’s Income, Discretionary Income, Wealth, and Poverty. • Household Income. Chapter 1 examines trends in household income over the past two decades. It also presents current household income statistics by age of householder, race and Hispanic origin of householder, type of household, and other important demographic characteristics. • Men’s Income. Trends in men’s incomes are examined in Chapter 2. Current income statistics for men are also shown by a variety of demographic characteristics. • Women’s Income. Chapter 3 examines trends and the current status of women’s income, which has become increasingly important to family economic well-being over the past few decades. • Discretionary Income. Found only in American Incomes, the statistics in Chapter 4 show that most American households have money to spend after paying taxes and buying necessities—but not as much as they had a few years ago. • Wealth. The statistics shown in Chapter 5, most of them from the Federal Reserve’s oneof-a-kind Survey of Consumer Finances, provide a comprehensive portrait of the assets, debts, and net worth of American households. • Poverty. Poverty is on the rise, and Chapter 6 reveals the demographic characteristics of who is falling behind. Most of the tables in American Incomes are based on data from the March 2003 Current Population Survey. In this annual survey, the Census Bureau interviews the occupants of about 60,000 households, asking them for their demographic characteristics and their income in the preceding year. The Current Population Survey is the best source of up-to-date, reliable information on the incomes of Americans. While the Census Bureau produces most of the data published here, the tables in American Incomes are not reprints of Census Bureau spreadsheets—as is the case in many other reference books. Instead, each has been individually compiled and created by New Strategist’s editors, with calculations designed to reveal the stories behind the statistics. A page of text accompanies most of the tables, analyzing the data and highlighting the trends. New Strategist’s statisticians produced the discretionary income statistics in American Incomes using data from the Current Population Survey and the Bureau of Labor Statistics’ Consumer Expenditure Survey. These proprietary estimates give researchers a look at how

2 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME

much money households have left over after they pay their bills. The wealth statistics (Chapter 5) are from the Federal Reserve Board’s 2001 Survey of Consumer Finances. This survey, taken every three years, provides the most comprehensive and reliable portrait of the wealth of Americans. American Incomes contains a comprehensive list of tables to help you locate the information you need. For a more detailed search, use the index at the back of the book. Also at the back of the book is the glossary, which defines the terms commonly used in the tables and text. American Incomes reveals the reality beneath the business headlines and behind the political clichés. American Incomes will help you prepare for the changes that lie ahead.

AMERICAN INCOMES: Demographics of Who Has Money 3

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HOUSEHOLD INCOME CHAPTER

1

Household Income Household income has fallen over the past few years because of the recession of 2001. The $42,409 median household income of 2002 was below the record high of $44,044 achieved in 1999, after adjusting for inflation. One in seven households had an income of $100,000 or more in 2002, down slightly from its peak. Despite the recession, household incomes were higher in 2002 than in 1990 or 1980, after adjusting for inflation. Behind the near-record level of affluence is the aging of the baby-boom generation into its peak earning years. Boomers spanned the ages of 38 to 56 in 2002. Typically, householders aged 45 to 54 have the highest incomes. In 2002, householders aged 45 to 54 had a median income of $59,021—39 percent higher than the average household. Not only are 45-to-54-year-olds at the peak of their career, but middle-aged households are more likely to have two earners today than in the past, boosting incomes even more. Although household incomes have slipped from their highs, they should remain close to their peak for the next decade or so as middle-aged baby-boom couples postpone retirement. Expect to see especially strong income growth among householders aged 55 to 64 as fewer opt for early retirement. ■ As boomers remain in the workforce well into their sixties, they will clog the promotion pipeline and reduce income growth for younger workers.

AMERICAN INCOMES: Demographics of Who Has Money 5

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HOUSEHOLD INCOME

Household Income Trends

AMERICAN INCOMES: Demographics of Who Has Money 7

Richest Households Control Large Share of Income The top 5 percent of households control more than one-fifth of household income. A common way to examine the distribution of income in the United States is to divide the total number of households into fifths based on their income and determine how much of total household income accrues to each fifth. This calculation reveals that the nation’s richest households are in control of a large share of income. In 1980, households in the top fifth of the income distribution controlled 43.7 percent of aggregate household income. The figure peaked at 50.1 percent in 2001 before dropping slightly to 49.7 percent in 2002. Even more telling, the share controlled by households in the top 5 percent of the household income distribution rose from 15.8 to 21.7 percent during those years. The figure peaked at 22.4 percent in 2001. To get into the elite top 5 percent of households, household income must have been $150,002 or higher in 2002. This amount rose from just $106,455 in 1980—an enormous 41 percent increase. ■ With the incomes of the richest households growing much faster than those of middleor lower-income households, the rich are getting richer faster than anyone else.

The richest households control more income (percent of household income accruing to households in the top and bottom fifth of the household income distribution, 1980 and 2002)

49.7% 43.7% 40%

20%

4.3%

3.5%

top fifth bottom fifth

0%

1980

8 AMERICAN INCOMES: Demographics of Who Has Money

2002

HOUSEHOLD INCOME

Table 1.1

Share of Aggregate Income Received by Each Fifth and Top 5 Percent of Households, 1980 to 2002

(upper income limits of income quintiles, lower income limit of top 5 percent, and distribution of aggregate income by household income quintile and top 5 percent, 1980 to 2002; in 2002 dollars) total households (in 000s)

upper limit of each fifth bottom fifth

second fifth

third fifth

fourth fifth

lower limit of top 5 percent

share of aggregate income bottom fifth

second fifth

third fifth

fourth fifth

top fifth

top 5 percent

2002

111,278 $17,916 $33,377 $53,162 $84,016 $150,002

3.5%

8.8%

14.8%

23.3%

49.7%

21.7%

2001

109,297

18,256

33,844

53,843

84,828

152,893

3.5

8.7

14.6

23.0

50.1

22.4

2000

108,209

18,713

34,461

54,483

85,385

151,647

3.6

8.9

14.8

23.0

49.8

22.1

1999

106,434

18,492

34,445

54,370

85,500

153,234

3.6

8.9

14.9

23.2

49.4

21.5

1998

103,874

17,757

33,504

53,258

82,636

145,658

3.6

9.0

15.0

23.2

49.2

21.4

1997

102,528

17,207

32,626

51,397

79,888

141,397

3.6

8.9

15.0

23.2

49.4

21.7

1996

101,018

16,853

31,679

50,219

77,617

136,416

3.7

9.0

15.1

23.3

49.0

21.4

1995

99,627

16,874

31,538

49,218

76,313

132,415

3.7

9.1

15.2

23.3

48.7

21.0

1994

98,990

16,115

30,247

48,131

75,426

131,815

3.6

8.9

15.0

23.4

49.1

21.2

1993

97,107

15,892

30,245

47,543

73,901

128,240

3.6

9.0

15.1

23.5

48.9

21.0

1992

96,426

15,827

30,323

47,607

72,863

124,381

3.8

9.4

15.8

24.2

46.9

18.6

1991

95,669

16,208

30,903

47,732

73,085

124,126

3.8

9.6

15.9

24.2

46.5

18.1

1990

94,312

16,677

31,569

48,297

73,654

126,411

3.9

9.6

15.9

24.0

46.6

18.6

1989

93,347

16,941

32,212

49,509

75,223

128,499

3.8

9.5

15.8

24.0

46.8

18.9

1988

92,830

16,625

31,405

48,942

73,900

125,093

3.8

9.6

16.0

24.3

46.3

18.3

1987

91,124

16,350

31,034

48,444

73,215

122,515

3.8

9.6

16.1

24.3

46.2

18.2

1986

89,479

16,215

30,969

47,832

72,199

122,459

3.9

9.7

16.2

24.5

45.7

17.5

1985

88,458

15,940

30,051

46,262

69,833

116,784

4.0

9.7

16.3

24.6

45.3

17.0

1984

86,789

15,813

29,491

45,307

68,522

114,627

4.1

9.9

16.4

24.7

44.9

16.5

1983

85,290

15,416

28,730

44,052

66,628

110,652

4.1

10.0

16.5

24.7

44.7

16.4

1982

83,918

15,200

28,563

43,817

65,421

109,019

4.1

10.1

16.6

24.7

44.5

16.2

1981

83,527

15,419

28,408

44,209

65,381

106,385

4.2

10.2

16.8

25.0

43.8

15.6

1980

82,368

15,619

29,146

44,670

65,527

106,455

4.3

10.3

16.9

24.9

43.7

15.8

Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

AMERICAN INCOMES: Demographics of Who Has Money 9

Affluence Is Down from Peak The proportion of households with incomes of $100,000 or more has fallen slightly since 2000. In 2002, a substantial 14.1 percent of households had an income of $100,000 or more. This amount is slightly lower than the peak of 14.5 percent reached in 2000, but much higher than the 5.9 percent of 1980, after adjusting for inflation. The proportion of households with incomes between $75,000 and $99,999 also rose between 1980 and 2002, climbing from 8.1 to 11.0 percent. Behind the rise in household affluence is the middle aging of dual-income baby-boom couples into their peak earning years. As the ranks of the affluent expanded, the ranks of the middle and lower classes shrank. The proportion of households with incomes below $35,000 fell from 48 to 42 percent between 1980 and 2002. The share of households with incomes between $35,000 and $74,999 fell from 38 to 33 percent during those years. Every racial and ethnic group was more affluent in 2002 than it was a decade or two earlier. Among Asians, fully 22 percent had an income of $100,000 or more in 2002, up from 16 percent in 1988 (the earliest year data are available). Among non-Hispanic whites, 16 percent had an income of $100,000 or more in 2002, up from 7 percent in 1980. Blacks and Hispanics are much less likely to have incomes of $100,000 or more (6.6 and 7.2 percent did in 2002, respectively), but both groups were more likely to be in the highest income category in 2002 than they were in 1980 (when 1.5 and 2.6 percent were, respectively). ■ The percentage of households with incomes of $100,000 or more is likely to remain near record levels for the next few years as boomers postpone retirement.

One in seven households has an income of $100,000 or more (percent of households with incomes of $100,000 or more, 1980 to 2002; in 2002 dollars)

14.5%

14.3%

14.1%

2000

2001

2002

9.7%

10%

5.9% 5%

0%

1980

1990

10 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME

Table 1.2

Distribution of Households by Income, 1980 to 2002: Total Households

(number and percent distribution of households by income, 1980 to 2002, in 2002 dollars; households in thousands as of the following year) total households

total

under $15,000

$15,000– $24,999

$25,000– $34,999

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

$100,000 or more

2002

111,278

100.0%

16.1%

13.2%

12.3%

15.1%

18.3%

11.0%

14.1%

2001

109,297

100.0

15.6

13.2

12.4

15.3

18.3

11.0

14.3

2000

108,209

100.0

15.3

12.6

12.6

15.2

18.7

11.0

14.5

1999

106,434

100.0

15.1

13.3

12.3

15.3

18.5

11.0

14.4

1998

103,874

100.0

16.1

13.2

12.5

15.3

18.9

10.8

13.2

1997

102,528

100.0

16.8

13.8

12.5

15.5

18.8

10.3

12.3

1996

101,018

100.0

17.4

13.8

13.0

15.5

18.9

10.2

11.2

1995

99,627

100.0

17.3

14.5

12.3

16.6

18.5

10.1

10.6

1994

98,990

100.0

18.3

14.4

12.8

16.2

17.9

9.9

10.4

1993

97,107

100.0

18.9

14.2

13.1

16.3

18.1

9.4

10.0

1992

96,426

100.0

18.5

14.5

13.0

16.3

18.8

9.5

9.4

1991

95,669

100.0

18.0

14.1

13.4

16.5

18.9

9.5

9.4

1990

94,312

100.0

17.6

13.6

13.3

17.1

19.0

9.5

9.7

1989

93,347

100.0

17.1

13.7

12.4

17.2

19.4

10.0

10.1

1988

92,830

100.0

17.9

14.0

12.3

17.0

19.6

10.0

9.4

1987

91,124

100.0

18.0

14.1

13.0

16.6

19.3

9.9

9.1

1986

89,479

100.0

18.3

14.1

13.1

16.8

19.3

9.7

8.6

1985

88,458

100.0

18.9

14.5

13.4

17.5

18.9

9.3

7.6

1984

86,789

100.0

19.2

14.9

13.7

17.5

18.7

8.8

7.2

1983

85,290

100.0

19.6

15.3

14.2

17.5

18.8

8.2

6.5

1982

83,918

100.0

20.0

15.2

13.7

18.4

18.3

8.1

6.1

1981

83,527

100.0

19.6

15.8

13.4

18.1

19.1

8.2

5.8

1980

82,368

100.0

19.4

15.0

13.6

18.5

19.6

8.1

5.9

Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

AMERICAN INCOMES: Demographics of Who Has Money 11

Table 1.3

Distribution of Households by Income, 1988 to 2002: Asian Households

(number and percent distribution of Asian households by income, 1988 to 2002, in 2002 dollars; households in thousands as of the following year) total households

total

under $15,000

$15,000– $24,999

$25,000– $34,999

10.3%

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

$100,000 or more

2002

4,079

100.0%

11.9%

10.5%

13.9%

18.9%

12.5%

2001

4,071

100.0

12.3

10.0

9.7

14.3

18.9

12.6

21.8% 22.3

2000

3,963

100.0

11.2

8.9

10.0

13.6

19.0

13.7

23.5

1999

3,742

100.0

12.6

9.0

10.0

14.5

17.8

12.8

23.2

1998

3,308

100.0

13.3

10.0

10.8

14.8

18.3

13.6

19.1

1997

3,125

100.0

14.4

9.9

9.5

15.8

19.7

11.8

18.8

1996

2,998

100.0

15.2

10.0

10.1

15.7

18.2

13.4

17.5

1995

2,777

100.0

15.7

10.7

9.4

17.3

19.4

12.2

15.3

1994

2,040

100.0

14.9

10.8

10.3

15.4

19.5

13.3

15.8

1993

2,233

100.0

17.4

11.8

10.3

13.4

18.3

13.0

15.9

1992

2,262

100.0

14.5

12.4

9.9

16.0

19.4

12.8

15.0

1991

2,094

100.0

14.2

11.7

12.3

14.8

19.3

12.8

14.9

1990

1,958

100.0

13.3

10.8

9.8

14.7

21.4

13.4

16.6

1989

1,988

100.0

12.8

10.1

10.1

17.2

20.6

12.7

16.5

1988

1,913

100.0

13.9

12.6

10.2

15.4

20.6

11.5

15.8

Note: 2002 data are for the Asian alone or in combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

12 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME

Table 1.4

Distribution of Households by Income, 1980 to 2002: Black Households

(number and percent distribution of black households by income, 1980 to 2002, in 2002 dollars; households in thousands as of the following year) total households

total

under $15,000

$15,000– $24,999

$25,000– $34,999

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

$100,000 or more

2002

13,778

100.0%

27.1%

16.3%

14.5%

14.8%

13.9%

6.7%

6.6%

2001

13,315

100.0

26.3

16.3

14.3

14.9

15.4

7.0

5.9

2000

13,174

100.0

25.2

16.1

14.1

15.7

15.3

7.0

6.7

1999

12,838

100.0

26.4

15.9

13.9

14.6

14.9

6.6

7.6

1998

12,579

100.0

29.3

16.9

13.4

14.5

14.0

6.4

5.6

1997

12,474

100.0

29.0

16.9

14.1

14.5

14.7

6.1

4.6

1996

12,109

100.0

30.6

16.8

13.6

15.0

14.0

5.4

4.5

1995

11,577

100.0

30.9

17.5

13.2

15.1

13.1

6.5

3.7

1994

11,655

100.0

32.8

17.0

13.5

13.2

13.3

5.6

4.6

1993

11,281

100.0

35.6

16.2

13.7

13.5

12.0

4.9

4.0

1992

11,269

100.0

35.2

16.9

13.4

13.7

12.7

4.6

3.5

1991

11,083

100.0

35.0

16.1

13.3

14.3

12.9

5.0

3.3

1990

10,671

100.0

34.6

15.5

13.6

14.5

13.3

4.7

3.8

1989

10,486

100.0

33.3

16.5

13.0

15.0

12.6

6.0

3.6

1988

10,561

100.0

35.3

16.5

12.8

13.6

12.9

5.6

3.4

1987

10,192

100.0

35.0

17.2

14.4

13.0

12.2

4.8

3.4

1986

9,922

100.0

35.0

17.1

13.5

13.7

13.1

4.4

3.1

1985

9,797

100.0

34.7

18.3

13.5

14.4

12.2

4.7

2.3

1984

9,480

100.0

36.6

18.4

13.9

13.4

11.1

4.4

2.1

1983

9,243

100.0

37.9

18.4

13.6

13.2

11.3

3.9

1.8

1982

8,916

100.0

37.4

19.1

12.6

15.1

11.5

2.9

1.4

1981

8,961

100.0

37.5

19.5

12.7

13.8

11.5

3.8

1.2

1980

8,847

100.0

36.5

18.7

13.3

14.7

11.5

3.8

1.5

Note: 2002 data are for the black alone or in combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

AMERICAN INCOMES: Demographics of Who Has Money 13

Table 1.5

Distribution of Households by Income, 1980 to 2002: Hispanic Households

(number and percent distribution of Hispanic households by income, 1980 to 2002, in 2002 dollars; households in thousands as of the following year) total households

total

under $15,000

$15,000– $24,999

$25,000– $34,999

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

2002

11,339

100.0%

19.1%

17.2%

15.7%

16.4%

16.9%

7.5%

7.2%

2001

10,499

100.0

18.7

17.4

15.4

17.3

16.1

7.8

7.2

2000

10,034

100.0

18.2

16.8

15.5

17.3

17.3

8.1

6.7

1999

9,579

100.0

19.4

17.7

16.0

16.9

15.7

7.7

6.6

1998

9,060

100.0

23.1

17.2

15.6

15.9

15.4

6.5

6.2

1997

8,590

100.0

24.9

17.9

15.0

16.0

14.8

5.9

5.6

1996

8,225

100.0

25.3

19.0

15.3

15.4

14.1

5.9

4.8

1995

7,939

100.0

27.3

20.0

14.3

15.5

13.5

5.2

4.3

1994

7,735

100.0

27.2

18.1

14.9

15.7

13.5

5.7

4.8

1993

7,362

100.0

26.5

18.8

15.4

16.3

13.3

5.6

4.1

1992

7,153

100.0

25.6

18.9

15.6

16.3

13.9

5.7

4.0

1991

6,379

100.0

25.1

18.0

15.4

16.5

14.6

5.9

4.5

1990

6,220

100.0

25.1

17.8

15.2

17.2

14.8

5.6

4.3

1989

5,933

100.0

23.8

16.9

15.0

16.9

16.2

6.4

4.9

1988

5,910

100.0

24.8

18.6

13.8

16.8

15.5

5.8

4.5

1987

5,642

100.0

25.6

18.3

15.4

15.8

14.9

5.6

4.5

1986

5,418

100.0

25.6

18.7

14.7

16.3

14.6

6.4

3.7

1985

5,213

100.0

27.0

18.4

15.0

17.0

14.0

5.7

2.9

1984

4,883

100.0

27.2

18.7

13.7

18.0

14.4

4.8

3.1

1983

4,666

100.0

28.4

18.4

15.7

17.0

13.4

4.5

2.7

1982

4,085

100.0

28.6

18.5

15.4

16.9

13.5

4.9

2.3

1981

3,980

100.0

24.5

19.1

16.3

18.2

14.6

5.1

2.3

1980

3,906

100.0

24.7

20.1

15.6

17.1

15.2

4.5

2.6

Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

14 AMERICAN INCOMES: Demographics of Who Has Money

$100,000 or more

HOUSEHOLD INCOME

Table 1.6

Distribution of Households by Income, 1980 to 2002: Non-Hispanic White Households

(number and percent distribution of non-Hispanic white households by income, 1980 to 2002, in 2002 dollars; households in thousands as of the following year) total households

total

under $15,000

$15,000– $24,999

$25,000– $34,999

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

$100,000 or more

2002

81,166

100.0%

13.9%

12.2%

11.5%

15.0%

19.2%

12.2%

16.0%

2001

80,818

100.0

13.7

12.2

11.8

15.1

19.0

12.0

16.2

2000

80,527

100.0

13.4

11.7

12.2

15.0

19.4

12.0

16.4

1999

79,819

100.0

12.7

12.6

11.8

15.2

19.5

12.1

16.1

1998

78,577

100.0

13.2

12.2

12.1

15.4

20.0

11.9

15.1

1997

77,936

100.0

14.0

13.0

12.1

15.6

19.9

11.5

14.0

1996

77,240

100.0

14.6

12.9

12.8

15.6

20.2

11.2

12.7

1995

76,932

100.0

14.3

13.6

12.1

17.0

19.8

11.1

12.2

1994

77,004

100.0

15.4

13.8

12.6

16.7

19.1

10.9

11.7

1993

75,697

100.0

15.7

13.5

12.8

16.8

19.5

10.3

11.4

1992

75,107

100.0

15.4

13.7

12.8

16.7

20.2

10.5

10.6

1991

75,625

100.0

15.1

13.6

13.3

16.9

20.2

10.4

10.5

1990

75,035

100.0

14.7

13.1

13.2

17.5

20.2

10.5

10.9

1989

74,495

100.0

14.4

13.2

12.2

17.5

20.7

10.8

11.4

1988

74,067

100.0

14.8

13.3

12.1

17.5

20.8

10.9

10.5

1987

73,120

100.0

15.0

13.4

12.7

17.2

20.6

10.9

10.1

1986

72,067

100.0

15.6

13.3

12.9

17.3

20.6

10.7

9.6

1985

71,540

100.0

16.2

13.8

13.3

17.9

20.1

10.0

8.7

1984

70,586

100.0

16.4

14.2

13.7

18.1

19.9

9.6

8.1

1983

69,648

100.0

16.6

14.7

14.2

18.1

20.1

9.0

7.3

1982

69,214

100.0

17.3

14.5

13.8

19.0

19.5

9.0

6.9

1981

68,996

100.0

17.2

15.1

13.4

18.6

20.4

8.9

6.6

1980

68,106

100.0

16.9

14.2

13.5

19.1

20.9

8.8

6.6

Note: 2002 data are for the white alone and not Hispanic population, which includes only those identifying themselves as being white and no other race and not Hispanic. The 2002 figures are not strictly comparable with those for earlier years, which may have included whites in combination with one or more other races. Source: Bureau of the Census, Income in the United States: 2002, Current Population Reports, P60-221, 2003

AMERICAN INCOMES: Demographics of Who Has Money 15

Most Age Groups Have Lost Ground Since 2000 But median household incomes were higher in 2002 than in 1990 or 1980 in every age group. All but one age group saw its median income decline between 2000 and 2002 as the recession of 2001 cut jobs and incomes. Median household income fell 3 percent for the average household during those years. Householders aged 55 to 64 were the only ones to see their incomes rise, up a scant 0.8 percent after adjusting for inflation. Behind the rise for this age group was the growing labor force participation rate among older men. Although median household incomes were lower in 2002 than in 2000, they were still significantly above the levels of 1980 and 1990. The youngest householders experienced the biggest gains between 1990 and 2002. Those under age 25 saw their median income rise 19 percent, after adjusting for inflation. Householders aged 65 or older experienced the smallest gains during those years, a modest 4 percent increase as interest rates fell during the 1990s. ■ The incomes of householders aged 55 to 64 should continue to rise in the years ahead as aging baby boomers stay on the job well into their sixties.

Householders aged 55 to 64 are the only ones to gain since 2000 (percent change in median household income by age of householder, 2000 to 2002; in 2002 dollars)

0.8% 0%

–2%

–1.9% –2.3%

–4%

–4.0%

–4.3% –4.7% under 25

25 to 34

16 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

65 or older

HOUSEHOLD INCOME

Table 1.7

Median Income of Households by Age of Householder, 1980 to 2002

(median household income by age of householder, 1980 to 2002; percent change for selected years; in 2002 dollars) total households

under 25

25 to 34

35 to 44

45 to 54

55 to 64

65 or older

2002 2001 2000

$42,409 42,900 43,848

$27,828 28,644 29,079

$45,330 45,797 46,380

$53,521 54,168 56,141

$59,021 58,968 60,193

$47,203 46,593 46,838

$23,152 23,486 24,105

1999 1998 1997 1996 1995 1994

43,915 42,844 41,346 40,503 39,931 38,726

27,137 25,963 25,232 24,465 24,583 23,213

45,420 44,148 42,653 40,955 40,663 39,790

54,829 53,384 51,798 50,691 50,933 50,012

61,402 59,661 57,961 57,597 56,315 56,726

48,197 47,562 46,208 45,436 44,619 42,288

24,600 23,941 23,197 22,194 22,377 21,719

1993 1992 1991 1990 1989 1988

38,287 38,482 38,791 39,949 40,484 39,767

23,694 22,187 23,580 24,018 26,138 24,890

38,336 39,240 39,712 40,504 41,768 41,495

50,078 50,060 50,666 51,447 52,709 53,394

56,629 55,817 56,334 55,932 58,154 55,817

41,024 42,699 42,883 43,181 43,163 42,218

21,755 21,524 21,857 22,488 22,088 21,798

1987 1986 1985 1984 1983 1982

39,453 38,975 37,648 36,921 35,774 35,986

24,899 23,967 23,989 23,106 22,956 24,649

40,823 40,542 39,986 39,096 37,248 37,967

53,266 51,326 49,520 49,059 47,411 47,046

56,324 55,824 52,959 51,912 51,989 49,927

41,722 41,917 40,739 39,687 39,016 39,383

21,865 21,674 21,127 21,082 20,072 19,698

1981 1980

36,042 36,608

25,022 26,275

38,762 39,971

47,966 48,839

51,103 51,927

39,759 40,405

18,713 18,151

Percent change 2000–2002 –3.3% 1990–2002 6.2 1980–2002 15.8

–4.3% 19.3 10.7

–2.3% 13.1 16.0

–4.7% 5.3 15.0

–1.9% 5.4 15.9

0.8% 7.9 15.9

–4.0% 4.4 32.8

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 17

Every Household Type Has Seen Its Income Decline Male-headed households have experienced the biggest loss. The median income of American households fell 3 percent between 2000 and 2002, from $43,848 to $42,409, after adjusting for inflation. Behind the loss was the recession of 2001. Some households fared better than others, however. The median income of married couples fell just 1 percent during those years versus a greater than 5 percent decline for male-headed families and men living alone. Despite income losses between 2000 and 2002, the median income of every household type was greater in 2002 than in 1980. The biggest gainers have been female-headed families (up 30 percent), women living alone (up 29 percent), and married couples (up 28 percent). Behind these increases is the rising labor force participation of women. The median income of male-headed families rose just 7 percent between 1980 and 2002, while that of men living alone climbed 13 percent. ■ The incomes of married couples should grow faster than those of other household types in the decade ahead because well-educated, dual-income baby-boom couples will postpone retirement, stretching out their peak earning years.

Married couples have lost the least ground since 2000 (percent change in median income by household type, 2000 to 2002; in 2002 dollars) 0%

–1.0% –2%

–1.7%

–4%

–3.9% –5.2% married couples

18

female-headed families

AMERICAN INCOMES: Demographics of Who Has Money

male-headed families

–5.5% women living alone

men living alone

HOUSEHOLD INCOME

Table 1.8

Median Income of Households by Type of Household, 1980 to 2002

(median household income by type of household, 1980 to 2002; percent change for selected years; in 2002 dollars) family households

nonfamily households

total

married couples

female hh, no spouse present

male hh, no spouse present

women living alone

men living alone

2002 2001

$42,409 42,900

$61,254 61,433

$29,001 28,590

$41,711 41,363

$17,888 18,152

$26,808 28,733

2000 1999 1998 1997 1996 1995

43,848 43,915 42,844 41,346 40,503 39,931

61,895 61,135 59,802 57,744 56,897 55,226

29,515 28,266 26,876 25,743 24,608 25,016

44,021 45,074 43,427 40,932 40,692 39,296

18,616 18,648 18,076 17,352 16,691 16,793

28,354 28,892 28,670 26,672 27,445 26,467

1994 1993 1992 1991 1990 1989

38,726 38,287 38,482 38,791 39,949 40,484

54,062 52,857 52,714 52,889 53,362 54,150

23,852 22,728 23,070 23,132 24,107 24,345

36,575 36,581 38,073 39,929 42,096 42,487

16,121 15,926 16,245 16,525 16,741 17,073

25,465 26,192 25,096 26,086 26,636 27,474

1988 1987 1986 1985 1984 1983

39,767 39,453 38,975 37,648 36,921 35,774

53,221 52,914 51,466 49,672 48,898 46,811

23,445 23,435 22,444 22,820 22,192 20,964

41,837 40,428 41,174 38,821 40,440 39,194

16,976 16,226 15,617 15,580 15,877 15,657

26,707 25,727 25,780 26,002 25,040 24,186

1982 1981 1980

35,986 36,042 36,608

46,505 47,441 47,915

21,200 21,619 22,387

37,851 38,816 38,810

14,553 13,993 13,829

24,650 24,257 23,827

Percent change 2000–2002

–3.3%

–1.0%

–1.7%

–5.2%

–3.9%

–5.5%

1990–2002 1980–2002

6.2 15.8

14.8 27.8

20.3 29.5

–0.9 7.5

6.9 29.4

0.6 12.5

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 19

Non-Hispanic Whites Experienced the Smallest Loss Since 2000 Asians saw their incomes decline 10 percent between 2000 and 2002. Between 2000 and 2002, the median income of the average household fell 3.3 percent, after adjusting for inflation. Behind the decline was the recession of 2001 and job losses. The median income of non-Hispanic whites fell by just 1.6 percent during those years, while households headed by Asians saw their median income fall a substantial 10.2 percent. Despite the decline, Asians continue to have far higher incomes than other racial or ethnic groups, a median of $52,285 in 2002. Blacks have the lowest median income, just $29,177. Behind the income gap are differences in household composition (black households are less likely to be headed by married couples) and education (Asian householders are by far the best educated). Although household incomes fell between 2000 and 2002, they are still above their 1990 and 1980 levels regardless of race or Hispanic origin. Since 1990, black households have enjoyed the greatest income growth—a 17 percent increase, after adjusting for inflation. The median income of Hispanic households rose 11 percent during those years, while that of non-Hispanic whites was up 10 percent and that of Asians just 2 percent. ■ As blacks make gains in educational attainment, their household incomes will continue to climb.

Blacks made substantial income gains between 1990 and 2002 (percent change in median household income by race and Hispanic origin of householder, 1990 to 2002)

17.1% 15%

11.1% 10.0% 10%

5%

1.9% 0%

Asian

20 AMERICAN INCOMES: Demographics of Who Has Money

black

Hispanic

non-Hispanic white

HOUSEHOLD INCOME

Table 1.9

Median Income of Households by Race and Hispanic Origin of Householder, 1980 to 2002

(median household income by race and Hispanic origin of householder, 1980 to 2002; percent change in median for selected years; in 2002 dollars) total households

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

$42,409 42,900 43,848

$52,285 54,488 58,225

$29,177 29,939 30,980

$33,103 34,099 34,636

$46,900 47,041 47,642

1999 1998 1997 1996 1995 1994

43,915 42,844 41,346 40,503 39,931 38,726

54,991 51,385 50,558 49,386 47,592 48,590

30,118 27,932 27,989 26,797 26,240 25,238

33,178 31,214 29,752 28,422 26,788 28,112

47,650 46,760 45,338 44,263 43,566 42,161

1993 1992 1991 1990 1989 1988

38,287 38,482 38,791 39,949 40,484 39,767

46,996 47,482 46,932 51,299 50,562 47,132

23,939 23,558 24,216 24,917 25,326 23,965

28,048 28,384 29,217 29,792 30,701 29,738

41,881 41,816 41,619 42,620 43,501 43,198

1987 1986 1985 1984 1983 1982

39,453 38,975 37,648 36,921 35,774 35,986

48,786 – – – – –

23,725 23,607 23,622 22,189 21,289 21,352

29,272 28,729 27,840 27,989 27,245 27,078

42,711 41,907 40,597 39,759 – 38,306

1981 1980

36,042 36,608

– –

21,370 22,250

28,911 28,218

38,631 39,306

Percent change 2000–2002 –3.3% 1990–2002 6.2 1980–2002 15.8

–10.2% 1.9 –

–5.8% 17.1 31.1

–4.4% 11.1 17.3

–1.6% 10.0 19.3

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 21

College Graduates Have Seen Incomes Rise Since 1991 But most households have experienced income losses since 2000, regardless of education. Although some may argue that colleges are pricing themselves out of business, a college degree is still worth its cost many times over. Since 1991, the incomes of college graduates have grown faster than those of people with less education, after adjusting for inflation. Among householders with a bachelor’s degree, median income rose 10 percent between 1991 and 2002, compared with a 3 percent decline in the median income of householders who went no further than high school. In 1991, householders with a high school diploma had a median income 58 percent as high as that of college graduates. By 2002, their median income was only 52 percent as high as the median of those with a bachelor’s degree. Although a college degree usually leads to higher earnings, most educational groups were hurt by the recession of 2001. Median household income fell between 2000 and 2002 for all but one educational group—householders with less than a ninth-grade education saw their incomes rise a small 0.5 percent. The biggest losers have been householders with only a high school diploma. Their incomes fell nearly 7 percent between 2000 and 2002, after adjusting for inflation. College graduates fared better, with a 0.6 percent decline. Householders with a professional degree, who have the highest median (more than $100,000 in 2002), saw their incomes fall 4 percent between 2000 and 2002 as managed care curbed the earnings of physicians. ■ Because an investment in education usually provides substantial monetary rewards, a growing proportion of adults will pursue a college degree.

High school graduates have lost ground (percent change in median household income by educational attainment of householder, 1991 to 2002; in 2002 dollars)

10.3% 10%

5%

0%

–2.8% high school graduate only

22 AMERICAN INCOMES: Demographics of Who Has Money

bachelor’s degree

HOUSEHOLD INCOME

Table 1.10

Median Income of Households by Education of Householder, 1991 to 2002

(median income of households by educational attainment of householders aged 25 or older, 1991 to 2002; in 2002 dollars) bachelor’s degree or more total households

less than 9th grade

9th to 12th grade

high school graduate

some college

associate’s degree

total

bachelor’s degree

2002 $44,039

master’s degree

professional degree

doctoral degree

$76,470 $100,000

$98,632

$18,380

$23,267

$35,646

$45,333

$51,058

$73,600

$69,156

2001

44,285

18,408

23,621

36,628

46,539

51,976

73,434

68,233

80,157

101,590

2000

45,196

18,280

23,675

38,143

46,598

52,736

75,022

69,564

81,797

104,426

99,286

1999

45,201

18,582

23,440

38,441

47,500

53,066

75,234

69,336

80,259

107,911

104,816

1998

44,398

17,799

22,834

37,872

45,899

53,552

73,242

68,519

78,323

105,012

92,662

1997

42,670

17,364

22,180

37,742

44,710

50,568

70,717

65,976

76,106

103,048

97,466

1996

41,671

17,547

22,426

36,854

43,819

50,793

68,445

62,921

72,906

103,098

92,617

1995

41,289

17,628

21,442

36,767

43,540

49,354

68,026

61,938

76,121

96,100

93,751

1994

40,192

17,134

21,056

36,093

43,065

48,321

68,944

62,858

73,271

93,624

93,810

1993

39,421

17,060

22,018

35,173

43,164

48,511

68,773

63,091

73,951

107,439

91,614

1992

39,692

16,857

21,758

36,328

44,260

48,079

67,731

62,028

72,537

106,413

87,951

1991

39,957

17,024

22,578

36,680

45,260

51,118

67,303

62,713

71,041

100,368

90,540

94,282

Percent change 2000–02

2.6%

1991–02 10.2

0.5% 8.0

–1.7% 3.1

–6.5% –2.8

–2.7% 0.2

–3.2% –0.1

–1.9% 9.4

–0.6% 10.3

–6.5% 7.6

–4.2% –0.4

–0.7% 8.9

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 23

Single-Person Households Have Advanced in Income Since 1980 But the median income of single-person households was lower in 2002 than in 2000. Behind the substantial rise in the median income of single-person households is the improving economic well-being of the nation’s older Americans. Most single-person households are headed by people aged 55 or older. As better-educated and more affluent generations filled the older age group during the past few decades, the incomes of single-person households have grown. Between 2000 and 2002, however, households of all sizes experienced income losses because of the recession of 2001. The largest households saw the smallest income declines, in part because they are likely to have more earners in the home. Single-person households experienced an above-average 4 percent decline in median income between 2000 and 2002 as interest rates dropped to near record lows. Households with four persons also saw a 4 percent income decline as families with children struggled with job losses. ■ With wages stagnating, larger households may fare better in the years ahead because they often include more earners.

Single-person households have lost ground since 2000 (median income of single-person households, 1980 to 2002; in 2002 dollars)

$22,409

$21,523

2000

2002

$20,472 $20,000

$16,872

$10,000

$0

1980

24 AMERICAN INCOMES: Demographics of Who Has Money

1990

HOUSEHOLD INCOME

Table 1.11

Median Income of Households by Size, 1980 to 2002

(median income of households by size of household, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total households

one person

two people

three people

four people

five people

six people

seven or more people

2002 2001 2000

$42,409 42,900 43,848

$21,523 22,107 22,409

$45,556 45,965 46,427

$54,783 55,347 55,447

$62,467 63,590 65,108

$61,623 60,851 62,331

$56,097 58,463 56,156

$56,352 55,428 56,529

1999 1998 1997 1996 1995 1994

43,915 42,844 41,346 40,503 39,931 38,726

22,630 22,206 20,963 20,424 19,995 19,471

46,734 45,738 43,959 42,546 41,834 40,755

55,266 54,065 52,643 51,140 49,502 49,263

64,267 61,576 59,402 58,662 58,041 56,121

58,431 59,174 56,321 54,595 53,564 52,974

55,849 54,077 51,916 48,429 51,868 51,231

56,121 51,395 47,311 46,032 45,716 43,956

1993 1992 1991 1990 1989 1988

38,287 38,482 38,791 39,949 40,484 39,767

19,688 19,369 19,882 20,472 20,769 20,423

39,749 39,965 40,200 41,837 41,823 40,930

48,304 48,491 49,243 49,051 50,807 49,584

55,256 55,290 55,437 55,333 57,063 56,514

51,768 52,940 52,524 52,400 55,014 52,618

50,363 46,597 47,505 50,911 49,444 53,915

40,590 41,652 43,954 48,175 45,719 46,269

1987 1986 1985 1984 1983 1982

39,453 38,975 37,648 36,921 35,774 35,986

19,291 19,026 18,944 18,961 18,408 17,812

40,151 39,595 38,045 37,249 36,080 36,038

49,099 48,534 47,274 46,002 44,033 43,611

56,095 54,255 52,130 51,117 49,994 49,270

54,092 53,484 50,622 50,772 48,010 48,484

50,681 51,392 49,560 46,633 46,056 48,510

47,181 43,576 45,047 43,301 40,121 42,313

1981 1980

36,042 36,608

17,367 16,872

35,729 36,186

44,595 44,930

49,740 50,458

49,376 51,380

50,914 50,468

46,405 48,227

Percent change 2000–2002 1990–2002 1980–2002

–3.3% 6.2 15.8

–4.0% 5.1 27.6

–1.9% 8.9 25.9

–1.2% 11.7 21.9

–4.1% 12.9 23.8

–1.1% 17.6 19.9

–0.1% 10.2 11.2

–0.3% 17.0 16.8

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 25

Having More Earners Results in Higher Incomes Households with no earners or only one earner are falling behind. Although the median income of the average household fell 3.3 percent between 2000 and 2002 because of the recession of 2001, income declines were limited to households with no earners or only one earner. In fact, the more earners in the household, the better the household has fared during the past few years. Households with no earners saw their median income fall 3.2 percent between 2000 and 2002, after adjusting for inflation. Those with only one earner experienced a 0.9 percent decline. The median income of households with two earners rose a small 0.9 percent, while those with three earners saw a 1.3 percent increase, and those with four or more earners experienced a 2.5 percent gain. Despite income losses since 2000, median incomes in 2002 were higher than in 1990 regardless of the number of earners in the household. But the pattern of income gains shows the same trend. Households with no earners experienced the smallest increase in income, followed by those with only one earner. Two earner households saw the biggest gain, however, up 18 percent between 1990 and 2002 after adjusting for inflation. ■ The incomes of two-earner households should grow steadily during the next decade as the large baby-boom generation approaches its sixties and early retirement becomes less common.

Incomes of two-earner households are on the rise (percent change in median income of households by number of earners, 2000 to 2002; in 2002 dollars)

2.5% 2%

1.3% 0.9% 0%

–0.9% –2%

–3.2% no earners

one earner

26 AMERICAN INCOMES: Demographics of Who Has Money

two earners

three earners

four or more earners

HOUSEHOLD INCOME

Table 1.12

Median Income of Households by Number of Earners, 1987 to 2002

(median income of households by number of earners, 1987 to 2002; in 2002 dollars) total

no earners

one earner

two earners

three earners

four or more earners

2002

$42,409

$15,401

$34,799

$65,544

$80,209

$98,845

2001 2000 1999 1998 1997 1996

42,900 43,848 43,915 42,844 41,346 40,503

15,698 15,905 16,681 15,912 15,801 15,200

34,646 35,107 34,487 34,335 33,274 31,833

65,579 64,976 64,415 63,231 60,550 59,816

78,484 79,211 79,938 77,140 75,064 71,241

96,093 96,402 96,568 95,500 94,767 89,587

1995 1994 1993 1992 1991 1990 1989

39,931 38,726 38,287 38,482 38,791 39,949 40,484

15,353 14,613 14,470 14,396 14,820 14,888 14,994

32,303 31,459 31,325 31,722 31,977 32,788 33,345

58,591 57,294 56,940 56,013 55,411 55,577 56,317

74,048 72,522 70,190 70,455 71,345 71,057 72,165

86,999 89,152 88,536 86,928 89,060 89,390 91,318

1988 1987

39,767 39,453

14,505 14,409

32,921 32,675

55,826 55,228

71,635 71,718

93,576 91,356

Percent change 2000–2002 1990–2002

–3.3% 6.2

–3.2% 3.4

–0.9% 6.1

0.9% 17.9

1.3% 12.9

2.5% 10.6

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 27

Families with Children Have Lost the Most Since 2000 Among families with children, married couples experienced the smallest decline. Between 2000 and 2002, the median income of families with children under age 18 at home fell 3.9 percent, after adjusting for inflation. In contrast, the median income of families without children at home fell a smaller 0.8 percent. Regardless of family type, those with children experienced a greater income loss than those without children as job losses caused by the recession of 2001 hurt parents more than other adults. This pattern is the reverse of the trend since 1990. Between 1990 and 2002, families with children at home saw their income rise faster than families without children. Femaleheaded families with children experienced the biggest gains, their median income climbing 29 percent since 1990, after adjusting for inflation. Married couples ranked second, with a 19 percent increase. Behind these gains was the growing labor force participation of women. The median income of male-headed families with children fell 4 percent between 1990 and 2002, after adjusting for inflation. ■ As boomers become dual-income empty-nesters in their peak earning years during the next ten years, the incomes of families without children are likely to grow faster than those of families with children.

Male-headed families fared the worst (percent change in median household income by type of household and presence of children under age 18 at home, 2000 to 2002; in 2002 dollars

0.4% 0%

–0.1% –0.8%

–1.1%

–2%

without children with children

–4%

–4.7% –5.2% married couples

28 AMERICAN INCOMES: Demographics of Who Has Money

female-headed families

male-headed families

HOUSEHOLD INCOME

Table 1.13

Median Income of Families by Type and Presence of Children, 1980 to 2002

(median income of family households by type and presence of related children under age 18 at home, 1980 to 2002; percent change in income for selected years; in 2002 dollars) female hh, no spouse present

male hh, no spouse present

no children

total families with children

no children

married-couple families with children

no children

with children

no children

with children

2002 2001 2000

$52,570 52,705 53,017

$50,851 51,801 52,942

$56,895 56,302 56,663

$65,399 66,240 65,920

$35,925 35,827 35,945

$22,637 22,347 22,885

$44,337 44,566 46,534

$32,154 32,440 33,921

1999 1998 1997 1996 1995 1994

53,962 53,137 50,977 50,255 48,338 47,594

51,742 50,069 48,653 46,771 46,891 45,520

57,387 56,548 54,289 53,562 51,930 50,636

64,927 62,827 60,776 59,077 58,554 56,706

36,619 35,543 34,680 34,858 33,382 33,898

21,511 20,283 19,281 18,703 19,025 17,886

47,733 46,104 46,349 45,448 40,674 38,499

34,993 34,011 32,031 30,242 31,627 28,917

1993 1992 1991 1990 1989 1988

46,386 47,340 47,569 48,750 49,063 48,079

44,364 44,634 45,053 45,669 46,859 46,223

49,381 49,789 50,324 51,038 51,600 50,721

55,821 55,510 54,742 55,049 56,014 55,260

33,315 34,454 33,620 36,049 36,111 35,347

16,510 16,666 16,754 17,467 18,177 17,344

38,655 42,843 41,619 45,150 44,842 44,628

27,389 27,907 31,123 33,636 34,672 33,406

1987 1986 1985 1984 1983 1982

47,113 46,342 44,259 43,789 42,550 41,595

46,686 45,872 44,162 43,325 41,664 42,017

49,536 49,188 46,965 46,578 45,125 44,029

55,146 53,752 51,565 50,636 48,243 48,426

34,372 31,798 31,752 30,500 28,347 28,738

17,205 15,907 16,061 16,090 15,678 15,969

40,870 – – – – –

35,119 – – – – –

1981 1980

41,664 42,577

42,941 44,163

44,241 44,820

49,545 50,242

27,838 29,872

17,403 17,496

– –

– –

–4.7% –1.8

–5.2% –4.4

–

–

Percent change 2000–2002 1990–2002

–0.8% 7.8

–3.9% 11.3

0.4% 11.5

–0.8% 18.8

–0.1% –0.3

–1.1% 29.6

1980–2002

23.5

15.1

26.9

30.2

20.3

29.4

Note: (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet sites http://www.census.gov/ hhes/income/histinc/inchhdet.html and http://ferret.bls.census.gov/macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 29

Working Wives Have Kept Families Afloat Incomes have fallen among married couples with nonworking wives. Between 2000 and 2002, the median income of the average household fell 3.3 percent, after adjusting for inflation. Among married couples, median household income fell a smaller 0.9 percent during those years. But for married couples in which the wife works full-time, household income continued to climb despite the recession. For couples in which both husband and wife work full-time, median household income rose 2.6 percent between 2000 and 2002. This figure compares with a 0.4 percent decline for couples in which the husband works full-time and the wife does not work. Couples in which neither husband nor wife work experienced the greatest income decline, a 3.6 percent drop. Since 1990, the median income of married couples in which both husband and wife work full-time has grown twice as fast (up 14 percent, after adjusting for inflation) than that of couples in which only the husband works full-time and the wife does not work (up 7 percent). Consequently, the gap in incomes between these household types has grown. In 1990, the median income of the single-earner couples was 73 percent as high as that of the dual-earner couples. By 2002, it was only 66 percent as high. ■ Women’s incomes are increasingly important for a middle-class lifestyle and have kept many families afloat during the recession of 2001.

The income gap between dual- and single-earner couples is growing (median household income of married couples by earner status, 1990 and 2002; in 2002 dollars)

$83,820 $80,000

$73,471 $55,708

$52,144 $40,000

husband works full-time, wife does not work husband and wife work full-time $0

1990

30 AMERICAN INCOMES: Demographics of Who Has Money

2002

Table 1.14 Median Income of Married Couples by Work Experience, 1987 to 2002 (median income of married couples by work experience of husband and wife, 1987 to 2002; in 2002 dollars) husband worked full-time, year-round

husband worked

husband did not work

total married couples

total

total

full-time

wife did not work

total

total

full-time

wife did not work

total

total

full-time

wife did not work

$27,069

wife worked

wife worked

wife worked

2002

$61,130

$70,264

$75,637

$81,347

$51,236

$74,176

$78,807

$83,820

$55,708

$30,326

$41,522

$47,701

2001

61,294

69,533

74,574

79,777

51,736

73,170

77,677

82,426

54,819

30,735

40,195

46,763

27,633

2000

61,714

69,672

74,630

79,804

52,518

73,487

77,684

81,734

55,905

31,142

42,560

46,803

28,094

1999

61,159

68,863

73,865

79,772

50,402

72,281

76,904

82,212

54,561

32,071

40,664

45,498

28,959

1998

59,695

67,064

72,070

78,138

50,177

70,240

75,005

80,355

53,453

31,388

42,769

47,466

28,269

1997

57,643

64,575

69,091

74,920

48,583

68,709

72,516

77,661

54,201

30,881

41,608

49,774

27,917

1996

56,724

63,480

68,280

73,352

46,787

67,454

71,020

75,462

51,332

29,847

38,944

45,954

27,557

1995

55,147

61,917

66,793

72,892

46,521

65,921

70,165

75,327

50,538

30,153

40,613

47,442

27,192

1994

53,963

61,303

65,853

72,477

45,917

65,460

69,471

74,852

50,494

28,515

37,779

45,323

25,984

1993

52,705

60,604

64,334

70,948

45,936

64,793

68,651

74,405

51,198

28,345

36,927

42,479

25,721

1992

52,619

59,550

64,121

70,491

46,118

64,624

68,432

74,221

51,711

28,884

37,544

43,912

26,451

52,785

59,224

63,322

70,034

46,663

64,498

67,866

73,512

52,172

29,723

36,768

44,137

27,833

53,227

59,165

63,152

70,234

47,393

63,474

67,096

73,471

52,144

29,783

37,050

43,548

27,760

1989

53,986

59,958

64,070

71,379

49,300

64,591

68,083

74,219

53,920

28,624

36,802

42,518

26,572

1988

53,153

59,493

63,574

71,133

47,792

63,964

67,859

74,333

52,796

29,156

38,617

45,710

26,342

1987

52,802

59,045

63,229

70,068

48,568

63,857

67,417

74,011

53,827

29,106

38,837

46,592

26,150

Percent change 2000–2002

–0.9%

1990–2002

14.8

0.8% 18.8

1.3% 19.8

1.9% 15.8

–2.4% 8.1

0.9% 16.9

1.4% 17.5

2.6% 14.1

–0.4%

–2.6%

6.8

1.8

–2.4%

1.9%

–3.6%

12.1

9.5

–2.5

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet sites http://www.census.gov/hhes/income/histinc/inchhdet.html and http://ferret.bls.census.gov/macro/032003/hhinc/toc.htm; calculations by New Strategist

HOUSEHOLD INCOME

AMERICAN INCOMES: Demographics of Who Has Money 31

1991 1990

The Northeast Made Gains during the Recession Households in the Midwest and West saw the steepest income declines. Median household income grew in the Northeast between 2000 and 2002, even as it was declining in every other region. The Northeast experienced a small 0.4 percent increase in median income during those years, after adjusting for inflation. This figure compares with a 1.4 percent decline in the South, a 3.8 percent decline in the West, and a 5.6 percent decline in the Midwest. Consequently, median household income was higher in the Northeast than in any other region in 2002, standing at $45,862. Between 1980 and 2002, median household income grew 22 percent in the Northeast, after adjusting for inflation. This income growth was faster than that experienced by households in the other regions. The South ranked second in income growth during those years, but median household income there remains well below that of the other regions, at $39,522 in 2002. ■ The cost of living in the Northeast is higher than in the South or Midwest, limiting the spending power of its residents.

The Midwest has been the biggest income loser since 2000 (percent change in median household income by region, 2000 to 2002; in 2002 dollars)

0.4% 0%

–1.4%

–2%

–4%

–3.8%

–5.6% Northeast

32 AMERICAN INCOMES: Demographics of Who Has Money

Midwest

South

West

HOUSEHOLD INCOME

Table 1.15

Median Income of Households by Region, 1980 to 2002

(median income of households by region, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total households

Northeast

Midwest

South

West

2002 2001 2000 1999 1998 1997

$42,409 42,900 43,848 43,915 42,844 41,346

$45,862 46,443 45,686 45,195 44,771 43,496

$43,622 44,531 46,220 45,875 44,743 42,811

$39,522 39,523 40,088 40,299 39,441 38,374

$45,143 45,804 46,903 45,932 45,155 43,757

1996 1995 1994 1993 1992 1991

40,503 39,931 38,726 38,287 38,482 38,791

42,687 42,315 41,921 41,359 41,451 43,092

41,743 41,997 39,015 38,482 38,693 38,534

36,999 36,258 36,033 34,856 34,680 34,995

42,366 42,161 41,352 41,349 41,859 41,529

1990 1989 1988 1987 1986 1985

39,949 40,484 39,767 39,453 38,975 37,648

43,596 45,718 44,441 42,637 41,475 40,624

39,888 40,265 40,227 39,035 38,903 37,541

35,946 36,232 35,943 36,285 35,345 34,108

42,375 43,537 42,120 42,192 42,269 41,097

1984 1983 1982 1981 1980

36,921 35,774 35,986 36,042 36,608

38,791 37,372 36,943 37,462 37,604

37,203 36,087 37,144 37,208 37,855

33,970 33,206 33,167 32,768 33,689

40,285 38,055 37,808 38,631 39,293

Percent change 2000–2002 1990–2002 1980–2002

–3.3% 6.2 15.8

0.4% 5.2 22.0

–5.6% 9.4 15.2

–1.4% 9.9 17.3

–3.8% 6.5 14.9

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 33

Many States Experienced Declines in Median Household Income Between 1999–2000 and 2001–2002, households in thirty-four states and the District of Columbia saw their median income fall. The economic well-being of households by state is closely tied to local economies. The recession of 2001 affected most parts of the country, but some states suffered more than others. Mississippi experienced the steepest decline in median household income between 1999–2000 and 2001–2002, a 13.2 percent drop after adjusting for inflation. In contrast, Massachusetts experienced the greatest increase in median household income during those years, up 6.9 percent. Despite the decline in median household income because of the recession, incomes in the 2001–2002 period were higher than in the 1991–1992 period in every state except Hawaii. The biggest gainers during the decade were Minnesota (up 41 percent after adjusting for inflation), Kentucky (up 26 percent), and Utah (up 21 percent). And despite Mississippi’s 13 percent loss between 1999–2000 and 2001–2002, its median income was still 21 percent higher in 2001-2002 than it had been ten years earlier. ■ As technological change allows more people to work at high-paying jobs no matter where they live, income disparities by state may shrink.

Massachusetts is the biggest gainer, Mississippi the biggest loser (percent change in median household income for selected states, two-year averages 1999–2000 to 2001–2002; in 2002 dollars)

6.9% 5.1%

5.1%

5%

0%

–5%

–10%

–8.6%

–9.0%

Illinois

Michigan

–13.2% Massachusetts

Arkansas

34 AMERICAN INCOMES: Demographics of Who Has Money

Oklahoma

Mississippi

HOUSEHOLD INCOME

Table 1.16

Median Income of Households by State 1991–1992 to 2001–2002

(median income of households by state, two-year averages for 1991–1992, 1999–2000, and 2001–2002; percent change in income for selected years; in 2002 dollars) percent change

United States

2001–2002

1999–2000

1991–1992

1999–2000 to 2001–2002

1991–1992 to 2001–2002

$42,654

$43,882

$38,636

–2.8%

10.4%

Alabama Alaska Arizona Arkansas California Colorado

36,661 55,525 41,559 33,128 47,725 49,238

38,055 55,324 40,733 31,521 47,984 51,182

31,883 52,400 38,227 30,087 43,594 40,681

–3.7 0.4 2.0 5.1 –0.5 –3.8

15.0 6.0 8.7 10.1 9.5 21.0

Connecticut Delaware District of Columbia Florida Georgia Hawaii

53,791 50,020 40,447 37,512 43,096 47,748

53,494 51,455 42,388 39,621 43,150 50,926

52,789 43,386 38,237 34,722 35,605 50,429

0.6 –2.8 –4.6 –5.3 –0.1 –6.2

1.9 15.3 5.8 8.0 21.0 –5.3

Idaho Illinois Indiana Iowa Kansas Kentucky

38,282 44,808 41,034 41,338 42,346 37,905

38,954 49,049 43,371 43,577 41,589 37,139

34,213 40,343 35,359 36,435 37,919 30,049

–1.7 –8.6 –5.4 –5.1 1.8 2.1

11.9 11.1 16.0 13.5 11.7 26.1

Louisiana Maine Maryland Massachusetts Michigan Minnesota

33,930 37,024 55,394 51,470 44,239 54,070

33,657 40,426 56,642 48,154 48,631 53,706

32,265 36,543 47,156 45,828 40,943 38,437

0.8 –8.4 –2.2 6.9 –9.0 0.7

5.2 1.3 17.5 12.3 8.1 40.7

Mississippi Missouri Montana Nebraska Nevada New Hampshire

30,761 42,386 33,736 43,550 45,542 53,734

35,432 45,875 33,861 42,640 46,262 51,439

25,457 35,163 32,643 37,896 41,245 47,966

–13.2 –7.6 –0.4 2.1 –1.6 4.5

20.8 20.5 3.3 14.9 10.4 12.0

New Jersey New Mexico New York North Carolina North Dakota Ohio

53,581 34,554 42,375 37,642 36,281 42,567

53,152 35,899 42,850 40,107 36,418 43,738

50,278 33,328 39,971 34,730 33,601 38,902

0.8 –3.7 –1.1 –6.1 –0.4 –2.7

6.6 3.7 6.0 8.4 8.0 9.4

Oklahoma Oregon

36,317 41,866

34,568 44,106

32,272 39,488

5.1 –5.1

12.5 6.0 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 35

percent change 2001–2002

1999–2000

1991–1992

$43,344 44,434

$42,394 45,082

$38,318 38,965

South Carolina South Dakota Tennessee Texas Utah Vermont

38,074 39,087 36,691 40,829 47,978 42,221

39,290 38,376 37,508 41,033 49,674 43,110

Virginia Washington West Virginia Wisconsin Wyoming

50,336 44,174 29,752 45,985 40,057

49,279 46,739 31,164 48,182 40,789

Pennsylvania Rhode Island

1999–2000 to 2001–2002

1991–1992 to 2001–2002

2.2% –1.4

13.1% 14.0

35,001 32,355 31,016 35,411 39,548 39,342

–3.1 1.9 –2.2 –0.5 –3.4 –2.1

8.8 20.8 18.3 15.3 21.3 7.3

47,256 43,161 27,634 40,963 37,676

2.1 –5.5 –4.5 –4.6 –1.8

6.5 2.3 7.7 12.3 6.3

Note: Two-year averages are used to compare state median incomes over time. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/inchhdet.html; calculations by New Strategist

36 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Household Income, 2002

AMERICAN INCOMES: Demographics of Who Has Money 37

Dual-Earner Married Couples Dominate Affluent Households Householders aged 35 to 54 account for the majority of those with incomes in the top 5 percent. By examining the characteristics of households within income quintiles, or fifths, the requirements of affluence become apparent. Married couples head fully 80 percent of households in the top fifth of the income distribution—those with household incomes of $84,016 or greater in 2002. People in the peak earning age group of 35 to 54 head 59 percent of households in the highest income quintile. And 78 percent have at least two earners. Households in the top 5 percent of the income distribution are even more likely to be headed by married couples and 35-to-54-year-olds. Looking at the distribution of households by income quintile confirms these findings. Among married couples, 31 percent are in the top fifth of the income distribution compared with only 7 percent of female-headed families. Thirty-six percent of households with at least two earners are in the top income quintile versus just 11 percent of households with one earner. The Current Population Survey provides only race and Hispanic origin data for the millions of households (now one in seven) with annual incomes above $100,000. Households headed by Asians are most likely to have incomes above this level, in part because of their high educational level and the above-average number of earners per Asian household. Households headed by blacks or Hispanics are least likely to have incomes above $100,000 because of their lower educational level and fewer earners per household. ■ America’s dual-income couples have helped the nation weather the recession of 2001, with second incomes keeping the economy afloat.

The more earners in a household, the higher the income (average number of earners per household, by household income quintile, 2002)

2.11 2 earners

1.83 1.44 0.98

1 earner

0.47

0 earners

bottom fifth

38

second fifth

AMERICAN INCOMES: Demographics of Who Has Money

third fifth

fourth fifth

top fifth

HOUSEHOLD INCOME, 2002

Table 1.17

Distribution of Households within Income Quintiles by Household Characteristic, 2002

(total number of households, lower income limit of each income quintile and top 5 percent, and percent distribution of households within quintile by selected characteristics, 2002; households in thousands)

Total households Lower limit of income quintile

total

bottom fifth

second fifth

third fifth

fourth fifth

top fifth

top 5 percent

111,278 –

22,256 –

22,256 $17,916

22,256 $33,377

22,256 $53,151

22,256 $84,016

5,563 $150,012

AGE OF HOUSEHOLDER

Total households Under age 25 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 5.9 17.1 21.6 20.3 14.6 20.4 10.2 10.2

100.0% 9.3 12.8 13.1 12.1 13.5 39.2 15.6 23.6

100.0% 8.3 17.8 18.1 14.3 12.9 28.5 13.9 14.6

100.0% 6.7 20.1 22.7 19.6 14.0 16.9 10.0 6.9

100.0% 3.6 20.7 26.4 24.3 15.0 10.0 6.7 3.3

100.0% 1.7 14.2 27.9 31.3 17.7 7.2 4.8 2.4

100.0% 1.2 10.6 28.3 33.2 20.8 5.9 4.2 1.8

100.0 67.9 51.5

100.0 40.5 19.1

100.0 61.2 39.6

100.0 69.8 50.9

100.0 81.1 67.9

100.0 87.1 80.0

100.0 88.9 83.4

12.2

18.4

16.6

13.4

8.3

4.5

2.6

4.2 32.1 17.7 15.2 14.4 11.2

3.0 59.5 39.4 38.0 20.1 18.6

4.9 38.8 21.0 18.7 17.9 15.1

5.5 30.2 14.7 11.5 15.5 11.6

4.8 18.9 8.1 5.1 10.8 6.8

2.7 12.9 5.2 2.7 7.7 4.1

2.9 11.1 4.3 2.3 6.8 4.1

100.0 3.0 14.8 13.3 68.1

100.0 3.5 11.9 11.0 72.5

100.0 3.8 9.0 8.7 77.8

100.0 5.2 6.2 5.6 82.3

100.0 5.8 4.9 4.5 84.2

TYPE OF HOUSEHOLD

Total households Family households Married couples Female householder, no spouse present Male householder, no spouse present Nonfamily households Female householder Living alone Male householder Living alone

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

Total households Asian Black Hispanic Non-Hispanic white

100.0 3.7 12.4 10.2 72.9

100.0 2.8 20.0 12.3 63.9

(continued)

AMERICAN INCOMES: Demographics of Who Has Money 39

total

bottom fifth

second fifth

100.0% 60.0 34.1 5.9 5.6 0.3 -

100.0% 26.7 52.8 20.5 18.6 1.7 0.1

third fifth

fourth fifth

top fifth

top 5 percent

NUMBER OF EARNERS

Total households No earners One earner Two earners or more Two earners Three earners Four earners Average number of earners per household

100.0% 21.0 36.0 43.0 34.4 6.5 2.1 1.36

0.47

0.98

100.0% 11.0 45.0 44.0 37.8 5.1 1.0 1.44

100.0% 4.7 28.4 66.9 53.6 10.4 2.9 1.83

100.0% 2.5 19.7 77.8 56.2 14.9 6.7 2.11

100.0% 1.5 22.5 76.0 56.1 12.9 7.0 2.10

WORK EXPERIENCE OF HOUSEHOLDER

Total households Householder worked Worked at full-time jobs Worked 50 or more weeks

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

70.0

34.5

62.1

77.0

86.1

90.2

90.4

59.9

22.2

51.0

67.3

77.0

81.9

81.6

50.6

12.7

41.0

57.1

67.9

74.3

74.3

Worked 27 to 29 weeks

5.9

4.1

6.2

7.1

6.5

5.6

5.2

Worked 26 or fewer weeks

3.4

5.3

3.8

3.2

2.7

2.0

2.1

10.1

12.3

11.0

9.7

9.1

8.2

8.8

Worked at part-time jobs Worked 50 or more weeks

5.4

5.3

5.9

5.8

5.3

4.9

5.6

Worked 27 to 29 weeks

2.2

2.7

2.4

1.9

2.1

1.9

1.9

Worked 26 or fewer weeks Householder did not work

2.4

4.3

2.8

2.1

1.7

1.4

1.4

30.0

65.5

37.9

23.0

13.9

9.8

9.6

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. (–) means not applicable or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

40 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.18

Distribution of Household Characteristics by Income Quintile, 2002

(total number of households, lower income limit of each income quintile and top 5 percent, and percent distribution of selected household characteristics by quintile, 2002; households in thousands)

Total households Lower limit of income quintile

total

bottom fifth

second fifth

third fifth

fourth fifth

top fifth

top 5 percent

111,278

22,256

22,256

22,256

22,256

22,256

5,563

–

–

$17,916

$33,377

$53,151

$84,016

$150,012

AGE OF HOUSEHOLDER

Total households

100.0%

20.0%

20.0%

20.0%

20.0%

Under age 25

100.0

31.3

28.1

22.5

12.2

20.0% 5.9

1.0

5.0%

Aged 25 to 34

100.0

14.9

20.8

23.5

24.2

16.6

3.1

Aged 35 to 44

100.0

12.1

16.8

20.9

24.4

25.8

6.5

Aged 45 to 54

100.0

11.9

14.1

19.3

23.9

30.8

8.2

Aged 55 to 64

100.0

18.5

17.7

19.1

20.5

24.2

7.1

Aged 65 or older

100.0

38.5

28.0

16.6

9.8

7.1

1.5

Aged 65 to 74

100.0

30.6

27.2

19.6

13.1

9.5

2.0

Aged 75 or older

100.0

46.4

28.7

13.6

6.6

4.6

0.9

Total households

100.0

20.0

20.0

20.0

20.0

20.0

5.0

Family households

100.0

11.9

18.0

20.5

23.9

25.7

6.5

Married couples

100.0

7.4

15.4

19.8

26.4

31.1

8.1

Female householder, no spouse present 100.0

30.1

27.1

21.9

13.6

7.3

1.0

TYPE OF HOUSEHOLD

100.0

14.2

23.6

26.3

23.1

12.8

3.4

Nonfamily households

Male householder, no spouse present

100.0

37.1

24.2

18.8

11.8

8.0

1.7

Female householder

100.0

44.6

23.7

16.6

9.2

5.9

1.2

100.0

50.0

24.6

15.1

6.7

3.6

0.7

100.0

27.9

24.8

21.5

15.0

10.7

2.4

100.0

33.1

26.8

20.7

12.1

7.3

1.8

Living alone Male householder Living alone

RACE AND HISPANIC ORIGIN OF HOUSEHOLDER

Total households

100.0

20.0

20.0

20.0

20.0

20.0

5.0

Asian

100.0

15.3

16.5

19.2

20.6

28.4

7.9

Black

100.0

32.3

23.9

19.3

14.6

10.0

2.0

Hispanic

100.0

24.2

26.1

21.7

17.1

11.0

2.2

Non-Hispanic white

100.0

17.5

18.7

19.9

21.3

22.6

5.8

NUMBER OF EARNERS

Total households

100.0

20.0

20.0

20.0

20.0

20.0

5.0

No earners

100.0

57.2

25.5

10.5

4.5

2.4

0.4

One earner

100.0

19.0

29.3

25.0

15.8

10.9

3.1

Two earners or more

100.0

2.7

9.5

20.4

31.1

36.2

8.8

Two earners

100.0

3.3

10.8

22.0

31.2

32.7

8.2

Three earners

100.0

0.8

5.3

15.8

32.1

46.0

9.9

Four earners

100.0

0.2

1.4

9.1

26.8

62.5

16.5 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 41

total WORK EXPERIENCE OF HOUSEHOLDER

bottom fifth

third fifth

fourth fifth

top fifth

top 5 percent

Total households

100.0%

20.0%

20.0%

20.0%

20.0%

5.0%

Householder worked

100.0

9.9

17.7

22.0

24.6

25.8

6.5 6.8

Worked at full-time jobs

20.0%

second fifth

100.0

7.4

17.0

22.5

25.7

27.4

Worked 50 or more weeks

100.0

5.0

16.2

22.6

26.8

29.4

7.3

Worked 27 to 29 weeks

100.0

13.9

21.0

24.1

22.0

19.1

4.5

Worked 26 or fewer weeks

100.0

31.2

22.5

18.6

15.8

11.9

3.0

100.0

24.5

21.9

19.2

18.0

16.3

4.4

Worked 50 or more weeks

100.0

19.5

21.7

21.2

19.5

18.1

5.1

Worked 27 to 29 weeks

100.0

24.5

21.7

17.0

19.3

17.6

4.3

Worked 26 or fewer weeks

100.0

35.5

22.5

16.9

13.7

11.4

2.8

100.0

43.6

25.3

15.3

9.3

6.6

1.6

Worked at part-time jobs

Householder did not work

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. (–) means not applicable or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm

42

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.19

High-Income Households by Race and Hispanic Origin, 2002

(number and percent distribution of high-income households by household income, race, and Hispanic origin, 2002; households in thousands as of 2003)

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 to $249,999 $250,000 or more

total

Asian

black

Hispanic

non-Hispanic white

111,278 32,572 30,481

4,079 922 988

13,778 5,997 4,031

11,339 4,121 3,637

81,166 21,220 21,535

20,315 12,230 10,073 2,977 1,154 1,472

772 508 557 172 82 78

1,921 925 628 156 57 63

1,910 854 560 149 47 59

15,579 9,875 8,245 2,482 970 1,261

PERCENT DISTRIBUTION BY HOUSEHOLD INCOME

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 to $249,999 $250,000 or more

100.0% 29.3 27.4 18.3 11.0

100.0% 22.6 24.2 18.9 12.5

100.0% 43.5 29.3 13.9 6.7

100.0% 36.3 32.1 16.8 7.5

100.0% 26.1 26.5 19.2 12.2

9.1 2.7 1.0 1.3

13.7 4.2 2.0 1.9

4.6 1.1 0.4 0.5

4.9 1.3 0.4 0.5

10.2 3.1 1.2 1.6

PERCENT DISTRIBUTION BY RACE AND HISPANIC ORIGIN

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999

100.0% 100.0 100.0 100.0 100.0 100.0

3.7% 2.8 3.2 3.8 4.2 5.5

$150,000 to $199,999 $200,000 to $249,999 $250,000 or more

100.0 100.0 100.0

5.8 7.1 5.3

12.4% 18.4 13.2 9.5 7.6 6.2

10.2% 12.7 11.9 9.4 7.0 5.6

5.2 4.9 4.3

5.0 4.1 4.0

72.9% 65.1 70.7 76.7 80.7 81.9 83.4 84.1 85.7

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 43

Median Income of Married Couples Tops $60,000 Among the nation’s married couples, more than one in five have an income of $100,000 or more. With a median income of $61,254 in 2002, the majority of the nation’s married couples have household incomes of $60,000 or more. Married couples are by far the most affluent household type. Behind the higher incomes of married couples is the fact that most are dual earners. Male-headed families rank second in income among household types, with a median of $41,711. Female-headed families have a much lower median of $29,001. Women who live alone have the lowest incomes, a median of $17,888 in 2002. By race and Hispanic origin, Asian households have the highest incomes—a median of $52,285 in 2002. Asian married couples have a median income of $66,509, slightly higher than the $65,010 median of non-Hispanic white married couples. The median income of black households is only 62 percent as high as that of non-Hispanic whites, $29,177 versus $46,900 in 2002. Differences in household composition explain most of the gap. Married couples head the majority of non-Hispanic white households. In contrast, couples head only 31 percent of black households. Female-headed families—one of the poorest household types—account for 30 percent of black households. The median household income of Hispanics is higher than that of blacks for one reason only—a larger share of Hispanic households are headed by married couples (55 percent), boosting their overall median to $33,103. In fact, however, Hispanic married couples have much lower incomes than black couples ($40,322 for Hispanics versus $52,141 for blacks). Hispanic couples have low incomes because they are less likely to be dual-earners than either whites or blacks and because many Hispanics are recent immigrants with little earning power. ■ The gap between the incomes of married couples and other household types will shrink as dual-income baby-boom couples retire and their earnings drop.

Women who live alone have the lowest incomes (median household income by household type, 2002)

$61,254 $50,000

$41,711 $29,001

$26,808

$25,000

$17,888

$0

married couples

44

female-headed families

AMERICAN INCOMES: Demographics of Who Has Money

male-headed families

women living alone

men living alone

HOUSEHOLD INCOME, 2002

Table 1.20

Households by Income and Household Type, 2002: Total Households

(number and percent distribution of households by household income and household type, 2002; households in thousands as of 2003) family households

nonfamily households

total

married couples

female hh, no spouse present

111,278

57,320

13,620

Under $5,000

3,533

657

$5,000 to $9,999

6,557

772

$10,000 to $14,999

7,836

1,573

1,311

218

3,180

$15,000 to $19,999

7,227

2,225

1,369

287

2,067

$20,000 to $24,999

7,419

2,747

1,199

368

1,684

1,524

Total households

male hh, no spouse present

female householder

male householder

total

living alone

total

living alone

4,656

19,662

16,919

16,020

12,511

875

119

1,103

1,035

778

712

1,103

146

3,124

3,058

1,411

1,346

3,085

1,554

1,437

1,949

1,278

1,118

1,421

1,224 1,015

$25,000 to $29,999

6,943

2,925

1,157

348

1,305

1,134

1,209

$30,000 to $34,999

6,729

2,974

1,075

376

1,264

1,071

1,041

822

$35,000 to $39,999

6,066

2,827

865

315

1,014

801

1,046

830

$40,000 to $44,999

5,713

2,884

755

353

857

690

864

645

$45,000 to $49,999

5,030

2,738

679

254

662

486

696

487

$50,000 to $54,999

5,019

2,878

518

267

587

439

770

546

$55,000 to $59,999

4,207

2,657

475

191

377

251

505

311

$60,000 to $64,999

4,233

2,828

363

197

380

266

466

284

$65,000 to $69,999

3,400

2,253

291

209

284

150

362

217

$70,000 to $74,999

3,456

2,418

250

167

291

182

330

201

$75,000 to $79,999

3,239

2,358

204

159

195

108

322

221

$80,000 to $84,999

2,837

2,118

175

94

172

97

279

195

$85,000 to $89,999

2,202

1,682

140

65

131

67

185

85

$90,000 to $94,999

2,141

1,682

103

70

114

73

174

93

$95,000 to $99,999

1,811

1,395

101

53

110

66

153

75

15,676

12,731

609

403

759

391

1,175

650

$42,409

$61,254

$29,001

$41,711

$20,913

$17,888

$31,404

$26,808

$100,000 or more Median income

PERCENT DISTRIBUTION

Total households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

29.3

13.9

43.0

24.4

56.7

63.0

40.2

46.7

$25,000 to $49,999

27.4

25.0

33.3

35.4

25.9

24.7

30.3

30.4

$50,000 to $74,999

18.3

22.7

13.9

22.1

9.8

7.6

15.2

12.5

$75,000 to $99,999

11.0

16.1

5.3

9.5

3.7

2.4

6.9

5.3

$100,000 or more

14.1

22.2

4.5

8.7

3.9

2.3

7.3

5.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 45

Table 1.21

Households by Income and Household Type, 2002: Asian Households

(number and percent distribution of Asian households by household income and household type, 2002; households in thousands as of 2003) family households

total

married couples

female hh, no spouse present

4,079

2,344

354

Under $5,000

176

39

$5,000 to $9,999

153

$10,000 to $14,999 $15,000 to $19,999

nonfamily households male hh, no spouse present

female householder

male householder

total

living alone

total

living alone

241

567

435

573

411

20

10

56

46

50

45

20

16

3

73

73

41

38

163

68

15

10

42

35

29

22

216

78

28

12

50

48

49

41

$20,000 to $24,999

214

87

23

14

43

34

47

28

$25,000 to $29,999

193

93

33

11

33

28

23

17

$30,000 to $34,999

228

106

27

11

39

24

46

23

$35,000 to $39,999

208

110

18

16

28

24

36

29

Asian households

$40,000 to $44,999

177

101

25

9

24

9

19

14

$45,000 to $49,999

182

106

16

7

26

17

27

20

$50,000 to $54,999

221

133

17

18

26

18

28

19

$55,000 to $59,999

134

87

15

14

13

9

5

3

$60,000 to $64,999

171

114

9

13

13

11

22

21

$65,000 to $69,999

99

71

1

14

1

1

12

10

$70,000 to $74,999

147

102

11

9

17

16

10

8

$75,000 to $79,999

114

77

4

6

16

9

11

8

$80,000 to $84,999

142

95

9

10

8

6

20

17

$85,000 to $89,999

86

60

4

6

3

–

12

5

$90,000 to $94,999

87

65

4

3

3

3

12

7

$95,000 to $99,999

79

43

8

7

8

5

13

2

889

688

52

38

48

19

63

34

$52,285

$66,509

$39,587

$55,334

$27,458

$21,472

$35,196

$32,225

$100,000 or more Median income

PERCENT DISTRIBUTION Asian households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

22.6

12.5

28.8

20.3

46.6

54.3

37.7

42.3

$25,000 to $49,999

24.2

22.0

33.6

22.4

26.5

23.4

26.4

25.1

$50,000 to $74,999

18.9

21.6

15.0

28.2

12.3

12.6

13.4

14.8

$75,000 to $99,999

12.5

14.5

8.2

13.3

6.7

5.3

11.9

9.5

$100,000 or more

21.8

29.4

14.7

15.8

8.5

4.4

11.0

8.3

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

46 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.22

Households by Income and Household Type, 2002: Black Households

(number and percent distribution of black households by household income and household type, 2002; households in thousands as of 2003) family households

total

married couples

female hh, no spouse present

13,778

4,268

4,069

956

66

$5,000 to $9,999

1,476

$10,000 to $14,999

nonfamily households male hh, no spouse present

female householder

male householder

total

living alone

total

living alone

791

2,550

2,318

2,100

1,753

408

30

251

242

202

189

80

441

53

602

584

302

288

1,315

152

495

57

380

373

231

220

$15,000 to $19,999

1,171

230

503

48

213

194

176

147

$20,000 to $24,999

1,079

249

347

64

198

184

220

190

$25,000 to $29,999

1,032

267

359

63

163

137

179

153

$30,000 to $34,999

960

257

330

80

151

132

142

114

$35,000 to $39,999

849

274

236

67

128

105

143

113

$40,000 to $44,999

606

196

176

47

87

76

101

75

$45,000 to $49,999

584

265

143

45

69

57

61

49

$50,000 to $54,999

472

207

91

40

65

57

68

44

$55,000 to $59,999

446

210

104

37

47

37

48

35

$60,000 to $64,999

367

208

60

22

43

39

34

26

$65,000 to $69,999

331

185

75

17

24

17

31

13

$70,000 to $74,999

305

181

62

15

26

14

21

15

$75,000 to $79,999

261

165

44

18

17

13

16

11

$80,000 to $84,999

229

143

42

11

13

13

19

12

$85,000 to $89,999

155

101

20

10

9

6

15

5

$90,000 to $94,999

149

112

16

7

2

–

10

9

$95,000 to $99,999

131

83

20

14

8

2

5

3

$100,000 or more

904

637

93

47

56

36

71

40

$29,177

$52,141

$22,412

$35,018

$15,815

$14,323

$22,794

$20,717

Black households Under $5,000

Median income

PERCENT DISTRIBUTION

Black households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

44.9

18.9

28.5

60.6

65.8

69.8

51.3

54.8

$25,000 to $49,999

28.3

30.1

36.0

26.2

23.0

22.0

32.3

33.1

$50,000 to $74,999

14.0

23.7

19.1

8.8

6.7

5.1

10.4

8.6

$75,000 to $99,999

6.5

13.3

10.3

2.9

2.3

1.2

2.8

1.6

$100,000 or more

6.1

14.0

6.2

1.4

2.3

1.9

3.1

1.7

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 47

Table 1.23

Households by Income and Household Type, 2002: Hispanic Households

(number and percent distribution of Hispanic households by household income and household type, 2002; households in thousands as of 2003) family households

total

married couples

female hh, no spouse present

11,339

6,189

2,029

Under $5,000

484

116

$5,000 to $9,999

763

$10,000 to $14,999 $15,000 to $19,999

nonfamily households male hh, no spouse present

female householder

male householder

total

living alone

total

living alone

872

1,021

791

1,228

809

174

26

100

89

69

53

173

191

29

223

221

147

138

919

385

232

35

143

129

122

108

960

468

217

81

81

70

115

83

$20,000 to $24,999

995

528

205

85

58

45

120

90

$25,000 to $29,999

954

512

196

85

61

48

101

73

$30,000 to $34,999

829

470

144

70

57

36

87

52

$35,000 to $39,999

745

414

140

62

56

44

72

48

$40,000 to $44,999

614

376

75

55

52

23

57

36

$45,000 to $49,999

495

282

84

50

34

14

45

16

$50,000 to $54,999

538

346

58

44

37

24

53

31

$55,000 to $59,999

407

264

48

35

16

6

43

15

$60,000 to $64,999

400

278

40

39

15

11

28

12

$65,000 to $69,999

293

190

47

22

12

4

21

10

$70,000 to $74,999

272

187

35

24

13

6

14

2

$75,000 to $79,999

233

168

23

16

6

5

20

8

$80,000 to $84,999

201

134

19

18

9

1

20

11

$85,000 to $89,999

171

123

19

10

10

4

9

2

$90,000 to $94,999

138

102

12

10

7

1

6

–

$95,000 to $99,999

111

77

15

6

3

2

11

4

$100,000 or more

815

598

57

69

25

6

66

17

$33,103

$40,322

$24,892

$37,107

$17,298

$12,700

$26,740

$20,980

Hispanic households

Median income

PERCENT DISTRIBUTION

Hispanic households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

36.3

27.0

50.2

29.4

59.3

70.0

46.7

58.3

$25,000 to $49,999

32.1

33.2

31.5

36.9

25.5

20.9

29.5

27.8

$50,000 to $74,999

16.8

20.4

11.2

18.8

9.1

6.4

12.9

8.7

$75,000 to $99,999

7.5

9.8

4.3

6.9

3.4

1.6

5.4

3.1

$100,000 or more

7.2

9.7

2.8

7.9

2.4

0.8

5.4

2.1

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

48

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.24

Households by Income and Household Type, 2002: Non-Hispanic White Households

(number and percent distribution of non-Hispanic white households by household income and household type, 2002; households in thousands as of 2003) family households

total

married couples

female hh, no spouse present

nonfamily households male hh, no spouse present

female householder

male householder

total

living alone

total

living alone

Non-Hispanic white households

81,166

44,101

7,070

2,674

15,353

13,233

11,968

9,421

Under $5,000

1,886

432

271

51

686

647

447

418

$5,000 to $9,999

4,091

484

451

56

2,188

2,143

911

872

$10,000 to $14,999

5,357

962

546

113

2,579

2,517

1,156

1,076

$15,000 to $19,999

4,813

1,442

601

140

1,712

1,627

919

830

$20,000 to $24,999

5,073

1,881

612

199

1,364

1,246

1,017

900

$25,000 to $29,999

4,724

2,038

576

184

1,039

915

886

757

$30,000 to $34,999

4,627

2,113

551

209

1,008

874

747

613

$35,000 to $39,999

4,202

1,983

471

160

793

624

794

641

$40,000 to $44,999

4,241

2,172

468

231

694

577

677

513

$45,000 to $49,999

3,741

2,062

436

156

523

392

562

402

$50,000 to $54,999

3,753

2,178

354

157

455

336

609

447

$55,000 to $59,999

3,205

2,088

310

104

301

195

403

255

$60,000 to $64,999

3,275

2,211

250

125

311

207

377

221

$65,000 to $69,999

2,651

1,782

168

155

248

127

299

182

$70,000 to $74,999

2,695

1,930

140

116

229

143

280

173

$75,000 to $79,999

2,606

1,935

132

110

154

78

275

194

$80,000 to $84,999

2,258

1,736

106

54

142

77

220

155

$85,000 to $89,999

1,776

1,388

97

36

107

55

147

72

$90,000 to $94,999

1,755

1,389

69

51

102

68

144

74

$95,000 to $99,999

1,480

1,182

58

24

92

57

125

67

12,958

10,712

400

246

627

328

973

558

$46,900

$65,010

$34,271

$44,870

$21,669

$18,803

$34,138

$28,954

$100,000 or more Median income

PERCENT DISTRIBUTION

Non-Hispanic white households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

26.1

11.8

35.1

20.9

55.6

61.8

37.2

43.5

$25,000 to $49,999

26.5

23.5

35.4

35.2

26.4

25.6

30.6

31.1

$50,000 to $74,999

19.2

23.1

17.3

24.6

10.1

7.6

16.4

13.6

$75,000 to $99,999

12.2

17.3

6.5

10.3

3.9

2.5

7.6

6.0

$100,000 or more

16.0

24.3

5.7

9.2

4.1

2.5

8.1

5.9

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 49

Household Income Peaks in the 45-to-54 Age Group The median income of householders aged 45 to 54 is 26 percent above average. Median household income stood at $42,409 in 2002. For householders aged 45 to 54, however, median income was a much higher $59,021. Household incomes are highest in middle age because people in their forties and fifties are usually at the height of their career. Fully 22 percent of householders aged 45 to 54—or more than one in five—have an income of $100,000 or more. Median household income is lowest among the oldest and the youngest householders. Householders under age 25 had a median income of $27,828 in 2002, while those aged 75 or older had a median income of $19,300. Income rises with age as people develop job skills, then falls after retirement. Household income peaks in the 45-to-54 age group among non-Hispanic whites (at $65,291), Hispanics (at a much lower $39,624), and blacks (at $35,615). Among Asians, however, median household income peaks in the 35-to-44 age group at $65,246. The income peak is much lower for blacks and Hispanics than for Asians and non-Hispanic whites because of differences in household characteristics. Black households are much less likely than Asian or non-Hispanic white households to be headed by married couples, and married couples are by far the most affluent household type. Hispanic couples are less likely to be dual-earners, and many are recent immigrants with little education and few job skills. ■ The incomes of householders aged 55 to 64 is likely to grow in the years ahead as welleducated, two-income baby-boom couples enter the age group and fewer opt for early retirement.

Incomes are lowest for the oldest householders (median income of households by age of householder, 2002)

$59,021 $53,521 $50,000

$47,203

$45,330

$28,173

$27,828 $25,000

$19,300

$0

under 25

25 to 34

50 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

65 to 74

75 or older

HOUSEHOLD INCOME, 2002

Table 1.25

Households by Income and Age of Householder, 2002: Total Households

(number and percent distribution of households by household income and age of householder, 2002; households in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

111,278

6,611

19,055

24,069

22,623

16,260

22,659

11,360

11,299

Under $5,000

3,533

522

676

610

627

551

546

225

321

$5,000 to $9,999

6,557

534

671

798

797

931

2,827

1,155

1,672

$10,000 to $14,999

7,836

640

904

884

810

1,013

3,584

1,344

2,240

$15,000 to $19,999

7,227

601

1,008

1,060

804

874

2,881

1,272

1,609

Total households

$20,000 to $24,999

7,419

661

1,219

1,315

1,026

918

2,280

1,031

1,251

$25,000 to $29,999

6,943

545

1,296

1,298

1,020

926

1,859

983

876

$30,000 to $34,999

6,729

551

1,302

1,301

1,093

951

1,531

805

726

$35,000 to $39,999

6,066

427

1,244

1,268

1,152

814

1,161

645

518

$40,000 to $44,999

5,713

395

1,124

1,311

1,097

786

1,001

626

375

$45,000 to $49,999

5,030

320

1,036

1,211

1,023

730

710

425

285

$50,000 to $54,999

5,019

268

1,039

1,275

1,111

714

612

393

219

$55,000 to $59,999

4,207

208

890

1,046

901

649

511

312

199

$60,000 to $64,999

4,233

146

948

1,054

1,007

642

437

292

145

$65,000 to $69,999

3,400

110

737

894

775

508

377

272

105

$70,000 to $74,999

3,456

129

708

970

822

523

304

219

85

$75,000 to $79,999

3,239

101

632

897

875

452

283

187

95

$80,000 to $84,999

2,837

78

553

788

812

412

195

122

73

$85,000 to $89,999

2,202

56

413

611

610

366

147

88

58

$90,000 to $94,999

2,141

59

332

626

647

328

151

101

50

$95,000 to $99,999 $100,000 or more Median income

1,811

47

267

506

547

298

144

98

47

15,676

214

2,057

4,346

5,069

2,875

1,116

766

349

$42,409

$27,828

$45,330

$53,521

$59,021

$47,203

$23,152

$28,173

$19,300

PERCENT DISTRIBUTION

Total households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

29.3

44.7

23.5

19.4

18.0

26.4

53.5

44.3

62.8

$25,000 to $49,999

27.4

33.9

31.5

26.5

23.8

25.9

27.6

30.7

24.6

$50,000 to $74,999

18.3

13.0

22.7

21.8

20.4

18.7

9.9

13.1

6.7

$75,000 to $99,999

11.0

5.2

11.5

14.2

15.4

11.4

4.1

5.2

2.9

$100,000 or more

14.1

3.2

10.8

18.1

22.4

17.7

4.9

6.7

3.1

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 51

Table 1.26

Households by Income and Age of Householder, 2002: Asian Households

(number and percent distribution of Asian households by household income and age of householder, 2002; households in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

4,079

313

998

1,029

811

482

447

279

168

Under $5,000

176

37

53

47

10

18

11

7

5

$5,000 to $9,999

153

27

9

18

27

8

66

32

34

$10,000 to $14,999

163

22

32

34

14

17

44

23

21

$15,000 to $19,999

216

21

40

45

17

28

65

37

27

$20,000 to $24,999

214

31

61

41

26

19

36

22

15

$25,000 to $29,999

193

14

45

42

45

24

22

11

12

$30,000 to $34,999

228

26

55

54

37

26

30

13

16

Asian households

$35,000 to $39,999

208

21

63

43

46

17

17

11

6

$40,000 to $44,999

177

21

48

44

42

15

7

5

1

$45,000 to $49,999

182

17

59

26

48

22

10

6

3

$50,000 to $54,999

221

15

66

47

52

30

12

4

8

$55,000 to $59,999

134

9

35

33

40

15

4

3

1

$60,000 to $64,999

171

7

49

39

35

29

13

9

4

$65,000 to $69,999

99

1

26

36

5

20

11

11

–

$70,000 to $74,999

147

6

25

44

29

28

17

11

5

$75,000 to $79,999

114

6

33

36

20

8

10

6

4

$80,000 to $84,999

142

7

32

45

41

9

9

8

–

$85,000 to $89,999

86

2

26

35

16

6

1

–

–

$90,000 to $94,999

87

5

22

24

22

9

4

4

–

$95,000 to $99,999

79

3

15

17

28

14

2

2

–

889

15

204

279

212

120

59

54

5

$52,285

$30,666

$52,224

$65,246

$60,218

$60,356

$25,206

$31,681

$19,300

$100,000 or more Median income

PERCENT DISTRIBUTION

Asian households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

22.6

44.1

19.5

18.0

11.6

18.7

49.7

43.4

60.7

$25,000 to $49,999

24.2

31.6

27.1

20.3

26.9

21.6

19.2

16.5

22.6

$50,000 to $74,999

18.9

12.1

20.1

19.3

19.9

25.3

12.8

13.6

10.7

$75,000 to $99,999

12.5

7.3

12.8

15.3

15.7

9.5

5.8

7.2

2.4

$100,000 or more

21.8

4.8

20.4

27.1

26.1

24.9

13.2

19.4

3.0

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

52

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.27

Households by Income and Age of Householder, 2002: Black Households

(number and percent distribution of black households by household income and age of householder, 2002; households in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

13,778

1,193

2,695

3,187

2,836

1,794

2,073

1,187

886

956

178

197

183

208

91

98

53

45

$5,000 to $9,999

1,476

152

187

214

229

199

496

254

242

$10,000 to $14,999

1,315

134

209

233

169

195

375

189

187

$15,000 to $19,999

1,171

123

258

226

181

141

243

133

110

$20,000 to $24,999

1,079

132

231

232

190

136

159

87

72

$25,000 to $29,999

1,032

69

246

256

209

114

138

74

65

$30,000 to $34,999

960

95

222

229

206

103

105

67

38

$35,000 to $39,999

849

66

210

183

182

109

100

68

31

$40,000 to $44,999

606

38

118

165

132

92

62

43

19

$45,000 to $49,999

584

53

102

186

121

74

48

39

10

Black households Under $5,000

$50,000 to $54,999

472

31

95

134

119

47

43

25

20

$55,000 to $59,999

446

27

82

131

92

69

44

32

11

$60,000 to $64,999

367

9

80

113

80

56

30

25

5

$65,000 to $69,999

331

13

83

88

88

40

19

15

3

$70,000 to $74,999

305

8

75

82

90

36

13

10

3

$75,000 to $79,999

261

7

47

84

69

36

18

13

5

$80,000 to $84,999

229

3

55

61

64

33

12

9

3

$85,000 to $89,999

155

8

29

43

47

17

10

9

1

$90,000 to $94,999

149

8

21

46

48

21

4

4

–

$95,000 to $99,999

131

9

11

44

40

18

10

5

5

$100,000 or more

904

32

140

252

270

167

44

33

12

$29,177

$20,342

$30,385

$35,478

$35,615

$31,181

$16,385

$18,616

$14,094

Median income

PERCENT DISTRIBUTION

Black households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

43.5

60.3

40.1

34.1

34.4

42.5

66.1

60.3

74.0

$25,000 to $49,999

29.3

26.9

33.3

32.0

30.0

27.4

21.9

24.5

18.4

$50,000 to $74,999

13.9

7.4

15.4

17.2

16.5

13.8

7.2

9.0

4.7

$75,000 to $99,999

6.7

2.9

6.0

8.7

9.4

7.0

2.6

3.4

1.6

$100,000 or more

6.6

2.7

5.2

7.9

9.5

9.3

2.1

2.8

1.4

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 53

Table 1.28

Households by Income and Age of Householder, 2002: Hispanic Households

(number and percent distribution of Hispanic households by household income and age of householder, 2002; households in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

11,339

1,073

2,980

3,104

1,913

1,150

1,119

692

427

Under $5,000

484

80

136

100

78

52

38

28

9

$5,000 to $9,999

763

67

121

126

105

97

246

126

120

$10,000 to $14,999

919

115

213

186

123

93

188

92

95

$15,000 to $19,999

960

103

259

249

113

96

138

96

42

$20,000 to $24,999

995

109

273

282

151

92

89

52

36

$25,000 to $29,999

954

133

304

242

138

63

75

45

30

$30,000 to $34,999

829

94

203

238

139

82

74

48

26

$35,000 to $39,999

745

53

214

241

118

77

44

27

17

$40,000 to $44,999

614

61

174

179

102

66

32

26

6

$45,000 to $49,999

495

38

157

140

76

48

35

32

3

$50,000 to $54,999

538

41

153

185

98

35

26

19

7

$55,000 to $59,999

407

30

123

125

72

39

18

15

4

$60,000 to $64,999

400

15

125

116

78

41

26

19

6

$65,000 to $69,999

293

12

76

90

68

33

13

11

2

$70,000 to $74,999

272

17

80

93

52

20

10

6

3

$75,000 to $79,999

233

19

58

82

42

21

11

9

1

$80,000 to $84,999

201

7

54

72

32

25

10

7

4

$85,000 to $89,999

171

8

49

43

35

31

5

3

2

$90,000 to $94,999

138

11

34

35

42

9

5

4

1

$95,000 to $99,999

111

7

28

33

26

13

3

2

1

$100,000 or more

815

48

144

246

223

117

36

25

11

$33,103

$26,662

$34,129

$37,228

$39,624

$35,020

$18,164

$20,243

$14,388

Hispanic households

Median income

PERCENT DISTRIBUTION

Hispanic households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

36.3

44.2

33.6

30.4

29.8

37.4

62.5

56.9

70.7

$25,000 to $49,999

32.1

35.3

35.3

33.5

30.0

29.2

23.2

25.7

19.2

$50,000 to $74,999

16.8

10.7

18.7

19.6

19.2

14.6

8.3

10.1

5.2

$75,000 to $99,999

7.5

4.8

7.5

8.5

9.3

8.6

3.0

3.6

2.1

$100,000 or more

7.2

4.5

4.8

7.9

11.7

10.2

3.2

3.6

2.6

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

54

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.29

Households by Income and Age of Householder, 2002: Non-Hispanic White Households

(number and percent distribution of non-Hispanic white households by household income and age of householder, 2002; households in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

9,747

Non-Hispanic white households

81,166

3,979

12,247

16,553

16,875

12,668

18,844

9,097

Under $5,000

1,886

224

283

274

329

378

397

134

262

$5,000 to $9,999

4,091

284

342

428

429

614

1,993

736

1,257

$10,000 to $14,999

5,357

368

442

428

476

701

2,941

1,020

1,921

$15,000 to $19,999

4,813

341

440

528

482

601

2,419

997

1,422

$20,000 to $24,999

5,073

387

641

757

644

656

1,988

864

1,124

$25,000 to $29,999

4,724

322

698

755

628

712

1,610

842

768

$30,000 to $34,999

4,627

330

789

768

703

729

1,309

669

640

$35,000 to $39,999

4,202

282

748

795

786

603

988

531

456

$40,000 to $44,999

4,241

275

771

899

807

603

887

540

346

$45,000 to $49,999

3,741

204

718

847

777

581

614

347

267

$50,000 to $54,999

3,753

177

720

900

842

582

532

345

187

$55,000 to $59,999

3,205

145

651

747

692

527

443

260

183

$60,000 to $64,999

3,275

114

699

776

806

515

366

236

130

$65,000 to $69,999

2,651

85

550

672

612

407

326

227

100

$70,000 to $74,999

2,695

96

517

744

645

434

259

188

71

$75,000 to $79,999

2,606

65

490

689

738

383

240

158

82

$80,000 to $84,999

2,258

60

415

608

671

343

163

97

66

$85,000 to $89,999

1,776

38

307

482

510

308

131

76

55

$90,000 to $94,999

1,755

36

252

516

530

285

137

88

48

$95,000 to $99,999

1,480

28

214

408

451

249

130

89

40

12,958

119

1,558

3,534

4,319

2,455

973

652

321

$46,900

$30,841

$51,324

$60,867

$65,291

$51,088

$24,154

$29,701

$20,046

$100,000 or more Median income

PERCENT DISTRIBUTION

Non-Hispanic white households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

26.1

40.3

17.5

14.6

14.0

23.3

51.7

41.2

61.4

$25,000 to $49,999

26.5

35.5

30.4

24.6

21.9

25.5

28.7

32.2

25.4

$50,000 to $74,999

19.2

15.5

25.6

23.2

21.3

19.5

10.2

13.8

6.9

$75,000 to $99,999

12.2

5.7

13.7

16.3

17.2

12.4

4.3

5.6

3.0

$100,000 or more

16.0

3.0

12.7

21.3

25.6

19.4

5.2

7.2

3.3

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 55

Married Couples Aged 45 to 54 Have the Highest Incomes Nearly one in three has an income of $100,000 or more. The incomes of married couples peak in the 45-to-54 age group. While the majority of couples spanning the ages from 25 to 64 have incomes of $50,000 or more, those aged 45 to 54 have the highest income by a hefty margin. Nearly one in three couples in the 45-to-54 age group had an income of $100,000 or more in 2002. More than one in four couples aged 35 to 44 and 55 to 64 had incomes in that category as well. The youngest and the oldest married couples have the lowest incomes. Married couples aged 75 or older had a median income of $29,950 in 2002, slightly less than the $34,630 median of couples under age 25. Incomes are relatively low for young couples because many have preschoolers, and wives are less likely to be in the labor force. Among older couples, incomes are low because husband and wife are no longer in the labor force. The incomes of married couples peak in the 45-to-54 age group among blacks (at $61,744), Hispanics (at $50,930), and non-Hispanic whites (at $82,412). The median income of Asian couples peaks in the 35-to-44 age group at $76,090. Thirty-six percent of non-Hispanic white couples aged 45 to 54 had an income of $100,000 or more in 2002 compared with 20 percent of black couples and just 17 percent of Hispanic couples in the age group. The income gap is accounted for, in part, by the lower educational level of blacks and Hispanics. ■ The income gap between blacks and non-Hispanic whites will narrow as blacks gain educational credentials. But the income gap between Hispanics and non-Hispanic whites will not disappear until immigrants become a smaller share of the Hispanic population.

Among married couples, Asians have the highest incomes (median income of married couples by race and Hispanic origin, 2002)

$66,509

$65,010 $52,141

$50,000

$40,322

$25,000

$0

Asian

56 AMERICAN INCOMES: Demographics of Who Has Money

black

Hispanic

non-Hispanic white

HOUSEHOLD INCOME, 2002

Table 1.30

Married Couples by Household Income and Age of Householder, 2002: Total Married Couples

(number and percent distribution of married couples by household income and age of householder, 2002; married couples in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

Total married couples 57,320

1,379

9,536

14,001

13,297

9,543

9,564

5,865

3,700

Under $5,000

657

24

109

116

117

176

116

62

54

$5,000 to $9,999

772

54

109

130

96

159

224

132

92 278

$10,000 to $14,999

1,573

87

233

201

163

272

618

341

$15,000 to $19,999

2,225

114

319

306

209

292

984

520

464

$20,000 to $24,999

2,747

151

430

458

310

353

1,045

529

516

$25,000 to $29,999

2,925

158

497

469

391

401

1,009

558

451

$30,000 to $34,999

2,974

110

490

519

438

490

925

520

406

$35,000 to $39,999

2,827

100

539

575

490

446

676

431

245

$40,000 to $44,999

2,884

126

543

654

489

446

624

418

206

$45,000 to $49,999

2,738

91

551

671

555

447

423

270

153

$50,000 to $54,999

2,878

80

600

758

612

440

388

271

117

$55,000 to $59,999

2,657

51

568

692

551

447

347

213

135

$60,000 to $64,999

2,828

48

618

734

658

503

266

198

68

$65,000 to $69,999

2,253

32

445

650

500

384

242

182

60

$70,000 to $74,999

2,418

23

467

720

596

386

226

175

50

$75,000 to $79,999

2,358

28

449

681

637

359

204

136

68

$80,000 to $84,999

2,118

21

374

632

626

318

147

99

49

$85,000 to $89,999

1,682

12

286

491

504

282

106

67

39

$90,000 to $94,999

1,682

13

223

534

529

271

111

79

33

$95,000 to $99,999

1,395

15

199

385

458

243

95

69

26

12,731

40

1,485

3,624

4,367

2,427

787

594

192

$61,254

$34,630

$57,454

$70,405

$78,482

$63,881

$34,159

$38,031

$29,950

$100,000 or more Median income

PERCENT DISTRIBUTION

Total married couples

100.0%

100.0%

Under $25,000

100.0% 13.9

100.0% 31.2

100.0% 12.6

8.6

6.7

100.0% 13.1

100.0% 31.2

100.0% 27.0

100.0% 37.9

$25,000 to $49,999

25.0

42.4

27.5

20.6

17.8

23.4

38.2

37.5

39.5

$50,000 to $74,999

22.7

17.0

28.3

25.4

21.9

22.6

15.4

17.7

11.6

$75,000 to $99,999

16.1

6.5

16.1

19.4

20.7

15.4

6.9

7.7

5.8

$100,000 or more

22.2

2.9

15.6

25.9

32.8

25.4

8.2

10.1

5.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 57

Table 1.31

Married Couples by Household Income and Age of Householder, 2002: Asian Married Couples

(number and percent distribution of Asian married couples by household income and age of householder, 2002; married couples in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

Asian married couples 2,344

36

482

703

558

320

244

176

68 2

Under $5,000

39

4

3

15

8

6

2

–

$5,000 to $9,999

20

–

4

1

7

–

8

6

2

$10,000 to $14,999

68

–

12

23

1

14

19

14

6

$15,000 to $19,999

78

1

14

13

7

10

33

18

15

$20,000 to $24,999

87

–

25

29

10

5

19

12

7

$25,000 to $29,999

93

3

17

21

29

12

12

7

5

$30,000 to $34,999

106

3

21

28

19

13

20

9

11

$35,000 to $39,999

110

5

25

25

26

16

13

10

2

$40,000 to $44,999

101

6

28

29

22

11

4

3

–

$45,000 to $49,999

106

2

25

19

38

20

3

2

2

$50,000 to $54,999

133

3

37

29

41

16

6

1

4

$55,000 to $59,999

87

–

21

26

29

9

2

2

–

$60,000 to $64,999

114

3

27

30

16

27

11

7

3

$65,000 to $69,999

71

–

9

26

4

20

11

11

–

$70,000 to $74,999

102

–

16

30

27

16

12

11

–

$75,000 to $79,999

77

–

21

26

15

7

8

4

4

$80,000 to $84,999

95

–

20

32

29

8

8

8

–

$85,000 to $89,999

60

–

16

30

12

2

–

–

–

$90,000 to $94,999

65

3

14

23

19

2

4

4

–

$95,000 to $99,999

43

–

2

14

13

12

2

2

–

688

2

125

232

187

93

49

46

3

$66,509

–

$60,936

$76,090

$74,130

$65,260

$34,159

$38,031

$29,950

$100,000 or more Median income

PERCENT DISTRIBUTION

Asian married couples

100.0%

100.0%

Under $25,000

100.0% 12.5

100.0% 13.9

100.0% 12.0

11.5

5.9

100.0% 10.9

100.0% 33.2

100.0% 28.4

100.0% 47.1

$25,000 to $49,999

22.0

52.8

24.1

17.4

24.0

22.5

21.3

17.6

29.4

$50,000 to $74,999

21.6

16.7

22.8

20.1

21.0

27.5

17.2

18.2

10.3

$75,000 to $99,999

14.5

8.3

15.1

17.8

15.8

9.7

9.0

10.2

5.9

$100,000 or more

29.4

5.6

25.9

33.0

33.5

29.1

20.1

26.1

4.4

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

58

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.32

Married Couples by Household Income and Age of Householder, 2002: Black Married Couples

(number and percent distribution of black married couples by household income and age of householder, 2002; married couples in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

Black married couples 4,268

120

759

1,125

1,052

636

577

400

177

Under $5,000

66

1

9

15

15

8

19

15

3

$5,000 to $9,999

80

5

4

11

19

10

31

25

6

$10,000 to $14,999

152

6

23

22

23

24

54

28

27

$15,000 to $19,999

230

9

39

31

28

39

84

54

30

$20,000 to $24,999

249

25

44

44

36

37

64

39

25

$25,000 to $29,999

267

14

53

46

65

32

57

29

28

$30,000 to $34,999

257

7

44

68

65

25

48

34

16

$35,000 to $39,999

274

10

59

67

60

39

41

35

5

$40,000 to $44,999

196

4

31

56

35

46

23

20

4

$45,000 to $49,999

265

9

57

82

63

35

21

19

3

$50,000 to $54,999

207

5

44

65

55

17

20

12

8

$55,000 to $59,999

210

6

40

68

43

35

18

11

7

$60,000 to $64,999

208

2

41

62

48

40

15

15

–

$65,000 to $69,999

185

3

46

60

45

24

7

7

–

$70,000 to $74,999

181

2

42

45

56

26

9

8

1

$75,000 to $79,999

165

3

29

51

46

26

9

7

2

$80,000 to $84,999

143

–

34

40

45

17

8

6

2

$85,000 to $89,999

101

–

15

34

34

9

10

9

1

$90,000 to $94,999

112

1

16

42

35

13

4

4

–

$95,000 to $99,999

83

4

5

33

26

14

1

1

–

$100,000 or more Median income

637

2

85

187

211

120

31

22

9

$52,141

$31,317

$51,808

$58,932

$61,744

$56,049

$28,273

$31,037

$24,386

PERCENT DISTRIBUTION

Black married couples

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

18.2

38.3

15.7

10.9

11.5

18.6

43.7

40.3

51.4

$25,000 to $49,999

29.5

36.7

32.1

28.4

27.4

27.8

32.9

34.3

31.6

$50,000 to $74,999

23.2

15.0

28.1

26.7

23.5

22.3

12.0

13.3

9.0

$75,000 to $99,999

14.2

6.7

13.0

17.8

17.7

12.4

5.5

6.8

2.8

$100,000 or more

14.9

1.7

11.2

16.6

20.1

18.9

5.4

5.5

5.1

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 59

Table 1.33

Married Couples by Household Income and Age of Householder, 2002: Hispanic Married Couples

(number and percent distribution of Hispanic married couples by household income and age of householder, 2002; married couples in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

163

Hispanic married couples

6,189

361

1,645

1,862

1,099

689

532

369

Under $5,000

116

6

41

20

19

20

10

10

1

$5,000 to $9,999

173

20

28

41

22

23

40

24

14

$10,000 to $14,999

385

31

103

69

49

35

98

53

45

$15,000 to $19,999

468

45

145

112

43

47

76

53

24

$20,000 to $24,999

528

52

154

169

70

38

45

30

15

$25,000 to $29,999

512

61

162

133

72

40

43

25

19

$30,000 to $34,999

470

27

113

137

83

61

50

34

16

$35,000 to $39,999

414

20

116

135

71

45

27

18

10

$40,000 to $44,999

376

25

104

122

60

44

20

17

3

$45,000 to $49,999

282

7

83

87

45

39

20

18

2

$50,000 to $54,999

346

15

95

135

61

22

18

15

3

$55,000 to $59,999

264

8

83

83

46

33

13

11

2

$60,000 to $64,999

278

8

82

86

56

32

14

12

1

$65,000 to $69,999

190

3

49

64

51

18

5

5

–

$70,000 to $74,999

187

3

58

69

33

16

7

6

–

$75,000 to $79,999

168

7

42

71

28

13

7

7

–

$80,000 to $84,999

134

4

27

51

25

23

6

5

2

$85,000 to $89,999

123

3

35

32

27

20

5

3

2

$90,000 to $94,999

102

3

21

33

33

8

5

4

1

$95,000 to $99,999

77

5

17

21

20

13

–

–

–

598

11

88

193

183

100

22

19

3

$40,322

$26,703

$37,843

$44,627

$50,930

$43,584

$24,538

$27,638

$19,433

$100,000 or more Median income

PERCENT DISTRIBUTION

Hispanic married couples

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

27.0

42.7

28.6

22.1

18.5

23.7

50.6

46.1

60.7

$25,000 to $49,999

33.2

38.8

35.1

33.0

30.1

33.2

30.1

30.4

30.7

$50,000 to $74,999

20.4

10.2

22.3

23.5

22.5

17.6

10.7

13.3

3.7

$75,000 to $99,999

9.8

6.1

8.6

11.2

12.1

11.2

4.3

5.1

3.1

$100,000 or more

9.7

3.0

5.3

10.4

16.7

14.5

4.1

5.1

1.8

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

60 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.34

Married Couples by Household Income and Age of Householder, 2002: Non-Hispanic White Married Couples

(number and percent distribution of non-Hispanic white married couples by household income and age of householder, 2002; married couples in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

3,277

Non-Hispanic white married couples

44,101

870

6,587

10,197

10,479

7,825

8,143

4,867

Under $5,000

432

15

56

63

73

141

85

35

50

$5,000 to $9,999

484

30

70

73

48

122

142

74

68

$10,000 to $14,999

962

51

95

89

89

196

442

245

198

$15,000 to $19,999

1,442

62

120

154

126

194

786

393

392

$20,000 to $24,999

1,881

78

201

220

194

274

913

443

470

$25,000 to $29,999

2,038

79

259

267

226

316

891

491

400

$30,000 to $34,999

2,113

72

294

285

275

387

800

439

361

$35,000 to $39,999

1,983

67

330

338

321

343

585

362

224

$40,000 to $44,999

2,172

93

374

436

363

337

567

369

198

$45,000 to $49,999

2,062

69

383

475

408

351

376

231

145

$50,000 to $54,999

2,178

59

421

527

450

377

343

243

101

$55,000 to $59,999

2,088

37

426

509

433

371

312

186

126

$60,000 to $64,999

2,211

34

470

547

533

403

224

161

62

$65,000 to $69,999

1,782

26

340

492

392

318

214

154

60

$70,000 to $74,999

1,930

18

350

570

473

325

196

149

47

$75,000 to $79,999

1,935

18

356

529

541

313

178

117

62

$80,000 to $84,999

1,736

17

294

508

523

268

125

81

45

$85,000 to $89,999

1,388

9

221

390

427

251

90

55

36

$90,000 to $94,999

1,389

7

170

432

439

244

97

66

31

$95,000 to $99,999

1,182

7

175

314

396

200

91

67

26

10,712

25

1,181

2,980

3,745

2,097

685

507

178

$65,010

$38,532

$62,349

$75,401

$82,412

$66,407

$35,104

$39,304

$30,778

$100,000 or more Median income

PERCENT DISTRIBUTION

Non-Hispanic white married couples

100.0%

100.0%

100.0%

100.0%

Under $25,000

100.0% 11.8

100.0% 27.1

8.2

5.9

5.1

11.8

100.0% 29.1

100.0% 24.5

100.0% 35.9

$25,000 to $49,999

23.5

43.7

24.9

17.7

15.2

22.2

39.5

38.9

40.5

$50,000 to $74,999

23.1

20.0

30.5

25.9

21.8

22.9

15.8

18.3

12.1

$75,000 to $99,999

17.3

6.7

18.5

21.3

22.2

16.3

7.1

7.9

6.1

$100,000 or more

24.3

2.9

17.9

29.2

35.7

26.8

8.4

10.4

5.4

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 61

Incomes of Female-Headed Families Are below Average The youngest are the poorest. The median income of female-headed families was just $29,001 in 2002—meaning half had incomes below that level and half above. Female family householders under age 25 have the lowest incomes, a median of just $19,754 in 2002. In contrast, most female family householders between the ages of 45 and 64 have incomes above $35,000. The majority of younger female-headed families include children. Often, the household has only one or even no earners, explaining their low incomes. Many families headed by older women include other adults—such as grown children or siblings. These households often include two or more earners, explaining their higher incomes. The poorest female-headed families are those headed by young black women. Black female family householders under age 25 had a median income of just $13,763 in 2002. The female family householders with the highest incomes are non-Hispanic whites aged 45 to 54. Their median income was fully $45,922, above the all-household median of $42,409 in 2002. ■ Female-headed families have low incomes because their households are likely to have just one earner, and many have no earners.

Incomes peak in middle age for female-headed families (median household income of female-headed families by age of householder, 2002)

$37,871 $35,273 $31,635

$31,720

65 to 74

75 or older

$28,558

$30,000

$23,162 $20,000

$19,754

$10,000

$0

under 25

25 to 34

62 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

HOUSEHOLD INCOME, 2002

Table 1.35

Female-Headed Families by Household Income and Age of Householder, 2002: Total Female-Headed Families

(number and percent distribution of female-headed families by household income and age of householder, 2002; female-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

13,620

1,383

2,892

3,653

2,644

1,305

1,743

845

898

875

217

264

205

111

48

31

16

16

$5,000 to $9,999

1,103

180

304

265

165

67

121

62

60

$10,000 to $14,999

1,311

152

330

357

189

107

174

74

101

$15,000 to $19,999

1,369

149

351

365

192

121

192

92

100

$20,000 to $24,999

1,199

117

293

365

189

96

141

72

69

$25,000 to $29,999

1,157

117

263

358

176

99

145

80

65

$30,000 to $34,999

1,075

94

256

281

174

107

162

75

88

$35,000 to $39,999

865

59

187

218

179

89

133

48

85

$40,000 to $44,999

755

42

125

234

181

60

113

57

56

$45,000 to $49,999

679

39

89

212

145

83

113

62

52

$50,000 to $54,999

518

31

53

144

139

67

84

37

47

$55,000 to $59,999

475

31

65

128

127

70

55

34

22

$60,000 to $64,999

363

12

47

93

111

48

53

21

31

$65,000 to $69,999

291

20

51

55

92

34

40

28

12

$70,000 to $74,999

250

29

33

67

76

26

20

7

12

$75,000 to $79,999

204

13

32

43

75

17

24

18

6

$80,000 to $84,999

175

13

38

42

46

24

13

7

5

$85,000 to $89,999

140

8

16

38

40

25

12

5

7

$90,000 to $94,999

103

10

11

20

35

18

9

4

5

$95,000 to $99,999

101

6

6

29

28

10

23

15

7

Total female-headed families Under $5,000

$100,000 or more Median income

609

46

79

133

178

92

81

31

50

$29,001

$19,754

$23,162

$28,558

$37,871

$35,273

$31,684

$31,635

$31,720

PERCENT DISTRIBUTION

Total female-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

43.0

58.9

53.3

42.6

32.0

33.6

37.8

37.4

38.5

$25,000 to $49,999

33.3

25.4

31.8

35.7

32.3

33.6

38.2

38.1

38.5

$50,000 to $74,999

13.9

8.9

8.6

13.3

20.6

18.8

14.5

15.0

13.8

$75,000 to $99,999

5.3

3.6

3.6

4.7

8.5

7.2

4.6

5.8

3.3

$100,000 or more

4.5

3.3

2.7

3.6

6.7

7.0

4.6

3.7

5.6

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 63

Table 1.36

Female-Headed Families by Household Income and Age of Householder, 2002: Asian Female-Headed Families

(number and percent distribution of Asian female-headed families by household income and age of householder, 2002; female-headed families in thousands as of 2003) total

under 45

45 or older

354 20 16

177 18 6

178 2 9

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

15 28 23 33 27 18

8 18 9 21 4 7

5 10 13 10 23 9

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

25 16 17 15 9 1

15 8 5 9 2 1

10 8 11 5 7 –

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

11 4 9 4 4 8

– 4 7 4 – 2

12 – 1 – 4 6

52

25

27

$39,587

–

–

Asian female-headed families Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

Asian female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 28.8 33.6 15.0

100.0% 33.3 31.1 9.6

100.0% 21.9 33.7 19.7

8.2 14.7

9.6 14.1

6.2 15.2

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

64 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.37

Female-Headed Families by Household Income and Age of Householder, 2002: Black Female-Headed Families

(number and percent distribution of black female-headed families by household income and age of householder, 2002; female-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

Black female-headed families

4,069

486

1,054

1,105

717

340

367

209

Under $5,000

408

119

116

87

52

23

12

9

158 4

$5,000 to $9,999

441

68

132

97

67

25

50

29

22

$10,000 to $14,999

495

64

130

135

67

45

54

26

29

$15,000 to $19,999

503

60

161

129

67

31

54

29

25

$20,000 to $24,999

347

42

93

109

53

21

30

19

11

$25,000 to $29,999

359

21

94

119

63

29

34

20

12

$30,000 to $34,999

330

34

100

89

57

26

23

14

9

$35,000 to $39,999

236

15

64

63

52

22

21

8

12

$40,000 to $44,999

176

14

34

51

44

13

20

13

7

$45,000 to $49,999

143

9

12

61

30

17

14

11

5

$50,000 to $54,999

91

8

11

31

14

12

16

10

5

$55,000 to $59,999

104

6

19

29

28

14

8

7

1

$60,000 to $64,999

60

2

10

18

17

6

7

4

2

$65,000 to $69,999

75

2

22

10

27

7

7

3

3

$70,000 to $74,999

62

4

13

22

15

6

3

1

2

$75,000 to $79,999

44

3

7

8

19

4

3

2

1

$80,000 to $84,999

42

–

9

14

8

11

2

1

1

$85,000 to $89,999

20

2

7

2

7

3

–

–

–

$90,000 to $94,999

16

4

1

2

6

4

–

–

–

$95,000 to $99,999

20

–

2

6

3

3

7

2

5

$100,000 or more

93

11

17

22

20

21

2

1

1

$22,412

$13,763

$19,477

$24,716

$29,002

$29,053

$21,871

$23,545

$19,986

Median income

PERCENT DISTRIBUTION

Black female-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

53.9

72.6

60.0

50.4

42.7

42.6

54.5

53.6

57.6

$25,000 to $49,999

30.6

19.1

28.8

34.7

34.3

31.5

30.5

31.6

28.5

$50,000 to $74,999

9.6

4.5

7.1

10.0

14.1

13.2

11.2

12.0

8.2

$75,000 to $99,999

3.5

1.9

2.5

2.9

6.0

7.4

3.3

2.4

4.4

$100,000 or more

2.3

2.3

1.6

2.0

2.8

6.2

0.5

0.5

0.6

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 65

Table 1.38

Female-Headed Families by Household Income and Age of Householder, 2002: Hispanic Female-Headed Families

(number and percent distribution of Hispanic female-headed families by household income and age of householder, 2002; female-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

64

Hispanic female-headed families

2,029

272

517

593

339

146

161

97

Under $5,000

174

44

60

38

21

8

4

2

2

$5,000 to $9,999

191

30

56

50

31

5

17

9

7

$10,000 to $14,999

232

27

54

80

32

12

27

12

15

$15,000 to $19,999

217

19

56

76

33

19

13

6

7

$20,000 to $24,999

205

28

50

61

32

16

16

10

6

$25,000 to $29,999

196

32

61

55

28

10

9

7

2

$30,000 to $34,999

144

19

33

43

23

7

19

10

8

$35,000 to $39,999

140

14

39

46

18

12

12

7

5

$40,000 to $44,999

75

6

15

21

23

7

4

3

–

$45,000 to $49,999

84

6

21

27

17

4

8

8

–

$50,000 to $54,999

58

5

10

23

9

8

4

2

2

$55,000 to $59,999

48

5

10

14

8

6

4

3

2

$60,000 to $64,999

40

3

7

10

11

3

6

3

3

$65,000 to $69,999

47

4

6

11

9

11

4

4

–

$70,000 to $74,999

35

6

9

9

8

2

2

–

2

$75,000 to $79,999

23

4

6

3

6

1

2

2

–

$80,000 to $84,999

19

2

8

6

–

–

3

3

–

$85,000 to $89,999

19

4

2

2

3

8

–

–

–

$90,000 to $94,999

12

3

3

2

3

1

–

–

–

$95,000 to $99,999

15

1

2

5

5

–

2

2

–

$100,000 or more

57

7

9

10

20

6

5

4

1

$24,892

$22,374

$22,324

$24,022

$28,332

$32,608

$26,860

$31,053

–

Median income

PERCENT DISTRIBUTION

Hispanic female-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

50.2

54.4

53.4

51.4

44.0

41.1

47.8

40.2

$25,000 to $49,999

31.5

28.3

32.7

32.4

32.2

27.4

32.3

36.1

57.8 23.4

$50,000 to $74,999

11.2

8.5

8.1

11.3

13.3

20.5

12.4

12.4

14.1

$75,000 to $99,999

4.3

5.1

4.1

3.0

5.0

6.8

4.3

7.2

–

$100,000 or more

2.8

2.6

1.7

1.7

5.9

4.1

3.1

4.1

1.6

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

66 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.39

Female-Headed Families by Household Income and Age of Householder, 2002: Non-Hispanic White Female-Headed Families

(number and percent distribution of non-Hispanic white female-headed families by household income and age of householder, 2002; female-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

female-headed families 7,070

Non-Hispanic white 570

1,247

1,860

1,486

759

1,148

500

648

Under $5,000

271

49

81

71

37

17

15

5

10

$5,000 to $9,999

451

79

108

114

62

34

53

26

27

$10,000 to $14,999

546

61

142

138

76

50

79

26

53

$15,000 to $19,999

601

55

126

144

85

71

121

53

69

$20,000 to $24,999

612

43

145

188

97

51

90

39

50

$25,000 to $29,999

576

61

105

179

81

54

97

48

49

$30,000 to $34,999

551

36

115

143

81

65

110

47

64

$35,000 to $39,999

471

28

77

115

99

53

97

32

65

$40,000 to $44,999

468

20

69

151

106

37

85

38

47

$45,000 to $49,999

436

16

53

122

96

62

88

41

47

$50,000 to $54,999

354

16

31

88

111

43

65

24

41

$55,000 to $59,999

310

14

39

78

89

49

42

23

19

$60,000 to $64,999

250

6

30

61

74

39

39

13

26

$65,000 to $69,999

168

13

22

32

58

16

27

19

9

$70,000 to $74,999

140

20

11

35

52

12

10

6

4

$75,000 to $79,999

132

7

17

28

50

12

16

14

2

$80,000 to $84,999

106

10

19

21

36

13

7

3

4

$85,000 to $89,999

97

3

7

31

32

11

12

5

7

$90,000 to $94,999

69

3

7

16

23

10

9

4

5

$95,000 to $99,999 $100,000 or more Median income

58

4

3

17

16

5

14

11

3

400

26

41

87

124

54

68

21

46

$34,271

$24,853

$26,078

$33,017

$45,922

$38,302

$35,454

$35,683

$35,295

PERCENT DISTRIBUTION

Non-Hispanic white female-headed families 100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

35.1

50.4

48.3

35.2

24.0

29.4

31.2

29.8

32.3

$25,000 to $49,999

35.4

28.2

33.6

38.2

31.2

35.7

41.6

41.2

42.0

$50,000 to $74,999

17.3

12.1

10.7

15.8

25.8

20.9

15.9

17.0

15.3

$75,000 to $99,999

6.5

4.7

4.3

6.1

10.6

6.7

5.1

7.4

3.2

$100,000 or more

5.7

4.6

3.3

4.7

8.3

7.1

5.9

4.2

7.1

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 67

Male-Headed Families Have Average Incomes The median income of male-headed families almost equals the national median. Male-headed families are the least common household type, accounting for fewer than 4 percent of the nation’s households. In 2002, there were only 5 million male-headed families versus the 14 million families headed by women. The median income of male-headed families stood at $41,711 in 2002, 44 percent higher than the median income of families headed by women and slightly below the $42,409 national median. The incomes of male-headed families do not vary much by age, peaking in the 45-to64 age group at slightly more than $45,000 in 2002. Eleven percent of male family householders aged 45 to 54 have an income of $100,000 or more, as do an even larger 16 percent of those aged 55 to 64. Male family heads aged 75 or older have the lowest incomes, a median of $34,548 in 2002. The income of male-headed families varies by race and Hispanic origin. Black maleheaded families have a median income of $35,018, 78 percent of the $44,870 median of their non-Hispanic white counterparts. Hispanic male-headed families have a median income slightly above that of blacks, at $37,107 in 2002. Asian male-headed families have the highest incomes, with a median income of $55,334. ■ The incomes of women have been rising for the past few decades while the incomes of men have been growing slowly if at all. Consequently, the income gap between male- and female-headed families is shrinking.

Among male-headed families, Asians have the highest incomes (median income of male-headed families by race and Hispanic origin, 2002)

$55,334 $50,000

$44,870 $35,018

$37,107

black

Hispanic

$25,000

$0

Asian

68

AMERICAN INCOMES: Demographics of Who Has Money

non-Hispanic white

HOUSEHOLD INCOME, 2002

Table 1.40

Male-Headed Families by Household Income and Age of Householder, 2002: Total Male-Headed Families

(number and percent distribution of male-headed families by household income and age of householder, 2002; male-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

235

Total male-headed families

4,656

789

1,010

1,087

923

413

434

199

Under $5,000

119

27

25

29

17

9

13

6

6

$5,000 to $9,999

146

35

18

26

25

21

21

11

10

$10,000 to $14,999

218

46

30

37

47

22

37

13

25

$15,000 to $19,999

287

43

64

65

54

22

37

15

22

$20,000 to $24,999

368

92

64

79

64

19

52

19

33

$25,000 to $29,999

348

45

102

79

59

31

33

22

11

$30,000 to $34,999

376

89

87

89

59

29

23

12

11

$35,000 to $39,999

315

47

67

93

53

28

26

10

16

$40,000 to $44,999

353

44

72

92

73

26

45

18

27

$45,000 to $49,999

254

43

56

60

60

22

14

2

11

$50,000 to $54,999

267

41

62

64

54

27

21

8

13

$55,000 to $59,999

191

21

56

56

33

12

13

6

6

$60,000 to $64,999

197

29

39

52

47

12

18

8

10

$65,000 to $69,999

209

24

66

49

37

16

17

13

5

$70,000 to $74,999

167

23

44

35

44

15

7

2

5

$75,000 to $79,999

159

32

30

31

36

12

18

11

8

$80,000 to $84,999

94

16

19

24

18

8

8

6

2

$85,000 to $89,999

65

7

15

15

13

8

7

4

2

$90,000 to $94,999

70

15

12

13

21

4

3

–

2

$95,000 to $99,999 $100,000 or more Median income

53

14

10

9

10

5

5

2

3

403

57

70

89

103

65

19

12

7

$41,711

$37,386

$42,411

$42,087

$45,952

$45,201

$35,107

$36,895

$34,548

PERCENT DISTRIBUTION

Total male-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

24.4

30.8

19.9

21.7

22.4

22.5

36.9

32.2

40.9

$25,000 to $49,999

35.4

34.0

38.0

38.0

32.9

32.9

32.5

32.2

32.3

$50,000 to $74,999

22.1

17.5

26.4

23.6

23.3

19.9

17.5

18.6

16.6

$75,000 to $99,999

9.5

10.6

8.5

8.5

10.6

9.0

9.4

11.6

7.2

$100,000 or more

8.7

7.2

6.9

8.2

11.2

15.7

4.4

6.0

3.0

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 69

Table 1.41

Male-Headed Families by Household Income and Age of Householder, 2002: Asian Male-Headed Families

(number and percent distribution of Asian male-headed families by household income and age of householder, 2002; male-headed families in thousands as of 2003) total

under 45

45 or older

Asian male-headed families Under $5,000 $5,000 to $9,999

241 10 3

190 10 2

51 – –

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

10 12 14 11 11 16

5 11 10 10 8 12

4 – 4 – 1 4

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

9 7 18 14 13 14

7 7 11 10 10 14

2 – 5 4 3 –

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

9 6 10 6 3 7

8 6 8 5 2 5

1 – 2 1 1 3

38

28

9

$55,334

–

–

$100,000 or more Median income

PERCENT DISTRIBUTION

Asian male-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999

100.0% 20.3 22.4 28.2

100.0% 20.0 23.2 27.9

$75,000 to $99,999 $100,000 or more

13.3 15.8

13.7 14.7

100.0% – – – – –

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

70 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.42

Male-Headed Families by Household Income and Age of Householder, 2002: Black Male-Headed Families

(number and percent distribution of black male-headed families by household income and age of householder, 2002; male-headed families in thousands as of 2003) total

under 45

45 or older

Black male-headed families Under $5,000 $5,000 to $9,999

791 30 53

521 22 35

270 7 19

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

57 48 64 63 80 67

31 32 40 43 57 39

25 16 23 21 23 27

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

47 45 40 37 22 17

34 38 27 28 15 10

14 7 12 9 8 7

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

15 18 11 10 7 14

9 16 4 5 3 9

6 2 6 6 4 5

47

27

21

$35,018

$35,224

–

$100,000 or more Median income

PERCENT DISTRIBUTION

Black male-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999

100.0% 31.9 38.2 16.6

100.0% 30.7 40.5 17.1

100.0% 33.3 34.1 15.6

$75,000 to $99,999 $100,000 or more

7.6 5.9

7.1 5.2

8.5 7.8

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 71

Table 1.43

Male-Headed Families by Household Income and Age of Householder, 2002: Hispanic Male-Headed Families

(number and percent distribution of Hispanic male-headed families by household income and age of householder, 2002; male-headed families in thousands as of 2003) total

under 45

45 or older

872 26 29

667 19 19

203 8 10

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

35 81 85 85 70 62

23 56 61 72 59 50

12 25 24 13 11 11

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

55 50 44 35 39 22

43 40 37 31 28 13

12 11 7 4 11 9

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

24 16 18 10 10 6

18 12 13 7 9 5

6 3 4 3 1 1

69

50

19

$37,107

$36,829

–

Hispanic male-headed families Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

Hispanic male-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 29.4 36.9 18.8

100.0% 26.7 39.6 19.0

100.0% 38.9 28.6 18.2

6.9 7.9

6.9 7.5

5.9 9.4

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

72

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.44

Male-Headed Families by Household Income and Age of Householder, 2002: Non-Hispanic White Male-Headed Families

(number and percent distribution of non-Hispanic white male-headed families by household income and age of householder, 2002; male-headed families in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

177

Non-Hispanic white male-headed families

2,674

333

506

618

626

265

326

149

Under $5,000

51

8

8

11

9

4

11

5

6

$5,000 to $9,999

56

4

6

10

17

14

6

4

2

$10,000 to $14,999

113

18

14

18

20

14

29

8

21

$15,000 to $19,999

140

11

26

31

31

14

26

7

20

$20,000 to $24,999

199

42

29

49

33

7

37

16

21

$25,000 to $29,999

184

17

47

36

36

24

24

18

6

$30,000 to $34,999

209

34

48

53

31

23

19

10

10

$35,000 to $39,999

160

17

28

55

27

13

21

8

12

$40,000 to $44,999

231

24

35

59

54

17

42

17

24

$45,000 to $49,999

156

11

26

41

48

21

10

1

8

$50,000 to $54,999

157

21

35

30

42

10

17

6

11

$55,000 to $59,999

104

8

29

29

20

10

8

5

3

$60,000 to $64,999

125

21

18

31

37

5

13

4

10

$65,000 to $69,999

155

18

47

36

29

11

14

11

3

$70,000 to $74,999

116

11

30

24

32

13

6

2

4

$75,000 to $79,999

110

19

17

17

33

8

16

8

8

$80,000 to $84,999

54

10

11

13

11

5

4

4

–

$85,000 to $89,999

36

1

9

9

9

2

6

4

2

$90,000 to $94,999

51

10

6

13

18

3

2

–

2

$95,000 to $99,999

24

5

3

6

5

4

2

–

2

246

23

35

49

82

44

13

11

2

$44,870

$42,700

$47,302

$43,458

$50,607

$45,654

$37,252

$39,542

$35,880

$100,000 or more Median income

PERCENT DISTRIBUTION

Non-Hispanic white male-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

20.9

24.9

16.4

19.3

17.6

20.0

33.4

26.8

39.5

$25,000 to $49,999

35.2

30.9

36.4

39.5

31.3

37.0

35.6

36.2

33.9

$50,000 to $74,999

24.6

23.7

31.4

24.3

25.6

18.5

17.8

18.8

17.5

$75,000 to $99,999

10.3

13.5

9.1

9.4

12.1

8.3

9.2

10.7

7.9

9.2

6.9

6.9

7.9

13.1

16.6

4.0

7.4

1.1

$100,000 or more

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 73

Women Living Alone Have the Lowest Incomes Most women who live alone are aged 55 or older, which accounts for their low incomes. Households headed by people who live alone are the second most common household type in the United States. They outnumber married couples with children under age 18 at home and are second only to married couples without children at home. Among singleperson households, those headed by women are far more numerous than those headed by men—17 million versus 13 million. Women who live alone have much lower incomes than their male counterparts. The median income of women who live alone stood at $17,888 in 2002—the lowest income of any household type and only 68 percent as high as the median income of men who live alone. But there is great variation in the incomes of women who live alone by age. Sixty-two percent of women who live alone are aged 55 or older, and 46 percent are aged 65 or older. Most older women who live alone are widows and not in the work force, which explains their low incomes. The median income of women aged 65 or older who live alone was just $13,582 in 2002. In contrast, younger women who live alone have relatively high incomes. Those from ages 25 to 54 had a median income of more than $30,000 in 2002. Women aged 25 to 34 who live alone have a median income almost as high as their male counterparts—$32,301 for women versus $32,595 for men. Black and Hispanic women who live alone have low incomes regardless of age. The median income of black women who live alone stood at $14,323 in 2002. For Hispanics, the figure was an even lower $12,700. ■ The incomes of older women who live alone should rise as the working women of the baby-boom generation—with their own pensions, retirement savings, and Social Security benefits—enter the 55-or-older age group.

Among women who live alone, those aged 25 to 44 have the highest incomes (median household income of women who live alone, by age, 2002)

$32,301

$31,763

$30,122

$30,000

$21,996 $20,000

$15,083

$14,544

$13,010

$10,000

$0

under 25

74

25 to 34

AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

65 to 74

75 or older

HOUSEHOLD INCOME, 2002

Table 1.45

Women Living Alone by Household Income and Age of Householder, 2002: Total Women Living Alone

(number and percent distribution of women living alone by household income and age of householder, 2002; women living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

4,914

Total women living alone

16,919

817

1,596

1,638

2,303

2,741

7,824

2,911

Under $5,000

1,035

119

116

122

183

184

309

106

204

$5,000 to $9,999

3,058

128

90

172

270

438

1,959

669

1,289

$10,000 to $14,999

3,085

180

103

99

159

361

2,183

672

1,511

$15,000 to $19,999

1,949

121

90

119

147

246

1,227

443

783

$20,000 to $24,999

1,524

90

129

122

186

286

710

290

420

$25,000 to $29,999

1,134

36

157

107

201

224

410

203

206

$30,000 to $34,999

1,071

53

185

175

189

186

281

133

148

$35,000 to $39,999

801

21

167

131

171

134

178

76

102

$40,000 to $44,999

690

27

122

115

163

145

118

65

53

$45,000 to $49,999

486

19

84

67

132

83

100

59

41

$50,000 to $54,999

439

12

78

77

123

97

50

31

21

$55,000 to $59,999

251

5

49

42

54

57

44

30

14

$60,000 to $64,999

266

–

56

60

62

40

47

31

16

$65,000 to $69,999

150

2

26

20

30

30

42

24

18

$70,000 to $74,999

182

4

23

43

47

48

16

11

5

$75,000 to $79,999

108

–

20

24

25

30

9

4

5

$80,000 to $84,999

97

–

12

24

25

25

13

5

8

$85,000 to $89,999

67

–

8

18

18

14

9

3

6

$90,000 to $94,999

73

–

20

10

17

10

16

6

10

$95,000 to $99,999 $100,000 or more Median income

66

–

13

23

10

9

10

8

2

391

–

48

71

89

91

93

40

53

$17,888

$14,544

$32,301

$31,763

$30,122

$21,996

$13,582

$15,083

$13,010

PERCENT DISTRIBUTION

Total women living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

63.0

78.1

33.1

38.7

41.0

55.3

81.6

74.9

85.6

$25,000 to $49,999

24.7

19.1

44.8

36.3

37.2

28.2

13.9

18.4

11.2

$50,000 to $74,999

7.6

2.8

14.5

14.8

13.7

9.9

2.5

4.4

1.5

$75,000 to $99,999

2.4

–

4.6

6.0

4.1

3.2

0.7

0.9

0.6

$100,000 or more

2.3

–

3.0

4.3

3.9

3.3

1.2

1.4

1.1

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 75

Table 1.46

Women Living Alone by Household Income and Age of Householder, 2002: Asian Women Living Alone

(number and percent distribution of Asian women living alone by household income and age of householder, 2002; women living alone in thousands as of 2003) total

under 45

45 or older

435 46 73 35

219 35 17 19

214 10 57 16

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

48 34 28 24 24 9

11 17 18 17 16 5

36 17 11 6 7 5

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

17 18 9 11 1 16

10 10 5 4 – 12

7 8 3 6 1 4

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

9 6 – 3 5 19

6 3 – 2 3 10

4 3 – 1 2 10

$21,472

–

–

Asian women living alone Under $5,000 $5,000 to $9,999 $10,000 to $14,999

Median income

PERCENT DISTRIBUTION

Asian women living alone Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 54.3 23.4 12.6 5.3 4.4

100.0% 45.2 30.1 14.2 6.4 4.6

100.0% 63.6 16.8 10.3 4.7 4.7

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

76 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.47

Women Living Alone by Household Income and Age of Householder, 2002: Black Women Living Alone

(number and percent distribution of black women living alone by household income and age of householder, 2002; women living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

380

Black women living alone

2,318

156

287

286

444

454

691

311

Under $5,000

242

26

33

35

77

23

48

21

28

$5,000 to $9,999

584

28

26

46

77

106

300

133

167

$10,000 to $14,999

373

36

24

23

32

85

172

83

90

$15,000 to $19,999

194

20

22

26

33

35

57

21

36

$20,000 to $24,999

184

22

19

28

34

48

32

16

16

$25,000 to $29,999

137

8

35

12

39

26

16

6

10

$30,000 to $34,999

132

4

26

30

25

32

15

5

10

$35,000 to $39,999

105

7

23

13

20

25

17

6

11

$40,000 to $44,999

76

2

13

12

23

19

8

5

4

$45,000 to $49,999

57

–

15

16

12

6

7

6

1

$50,000 to $54,999

57

–

12

8

21

11

5

–

5

$55,000 to $59,999

37

–

8

2

11

12

3

3

–

$60,000 to $64,999

39

–

14

10

7

4

3

2

2

$65,000 to $69,999

17

2

–

3

5

6

1

1

–

$70,000 to $74,999

14

–

6

–

8

–

–

–

–

$75,000 to $79,999

13

–

1

5

1

3

2

–

2

$80,000 to $84,999

13

–

2

4

5

2

–

–

–

$85,000 to $89,999

6

–

–

2

2

2

–

–

–

$90,000 to $94,999

–

–

–

–

–

–

–

–

–

$95,000 to $99,999

2

–

–

2

–

–

–

–

–

$100,000 or more Median income

36

–

5

8

11

8

4

3

1

$14,323

$13,614

$27,063

$21,621

$20,439

$16,364

$9,966

$10,117

$9,889

PERCENT DISTRIBUTION

Black women living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

68.0

84.6

43.2

55.2

57.0

65.4

88.1

88.1

$25,000 to $49,999

21.9

13.5

39.0

29.0

26.8

23.8

9.1

9.0

88.7 9.5

$50,000 to $74,999

7.1

1.3

13.9

8.0

11.7

7.3

1.7

1.9

1.8

$75,000 to $99,999

1.5

–

1.0

4.5

1.8

1.5

0.3

–

0.5

$100,000 or more

1.6

–

1.7

2.8

2.5

1.8

0.6

1.0

0.3

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 77

Table 1.48

Women Living Alone by Household Income and Age of Householder, 2002: Hispanic Women Living Alone

(number and percent distribution of Hispanic women living alone by household income and age of householder, 2002; women living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

791

57

114

103

124

142

250

123

127

89

15

12

12

13

18

19

12

6

$5,000 to $9,999

221

5

10

9

25

38

133

61

72

$10,000 to $14,999

129

15

15

13

15

32

39

16

23

$15,000 to $19,999

70

7

12

10

7

9

24

14

10

$20,000 to $24,999

45

1

2

4

15

12

10

4

7

$25,000 to $29,999

48

4

16

9

7

2

11

5

6

$30,000 to $34,999

36

7

8

8

6

4

3

3

–

$35,000 to $39,999

44

–

10

11

8

13

2

2

–

$40,000 to $44,999

23

–

8

4

6

3

2

2

–

$45,000 to $49,999

14

–

4

4

1

1

3

3

–

$50,000 to $54,999

24

3

4

3

12

2

–

–

–

$55,000 to $59,999

6

–

1

3

2

–

–

–

–

$60,000 to $64,999

11

–

5

1

1

1

2

–

2

$65,000 to $69,999

4

–

1

2

–

1

–

–

–

$70,000 to $74,999

6

–

–

3

1

2

–

–

–

$75,000 to $79,999

5

–

–

–

1

3

1

–

1

$80,000 to $84,999

1

–

–

1

–

–

–

–

–

$85,000 to $89,999

4

–

–

3

1

–

–

–

–

$90,000 to $94,999

1

–

1

–

–

–

–

–

–

$95,000 to $99,999

2

–

1

–

1

–

–

–

–

$100,000 or more

6

–

4

–

–

–

2

2

1

$12,700

–

$26,637

$25,751

$20,282

$11,654

$9,165

$9,300

$9,008

Hispanic women living alone Under $5,000

Median income

PERCENT DISTRIBUTION

Hispanic women living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

70.0

75.4

44.7

46.6

60.5

76.8

90.0

87.0

$25,000 to $49,999

20.9

19.3

40.4

35.0

22.6

16.2

8.4

12.2

92.9 4.7

$50,000 to $74,999

6.4

5.3

9.6

11.7

12.9

4.2

0.8

–

1.6

$75,000 to $99,999

1.6

–

1.8

3.9

2.4

2.1

0.4

–

0.8

$100,000 or more

0.8

–

3.5

–

–

–

0.8

1.6

0.8

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

78

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.49

Women Living Alone by Household Income and Age of Householder, 2002: Non-Hispanic White Women Living Alone

(number and percent distribution of non-Hispanic white women living alone by household income and age of householder, 2002; women living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

13,233

556

1,073

1,174

1,652

2,057

6,722

2,400

4,322

647

68

56

61

94

132

237

68

168

2,143

86

48

108

157

286

1,459

452

1,007

$10,000 to $14,999

2,517

118

56

60

98

241

1,945

563

1,382

$15,000 to $19,999

1,627

90

50

79

101

189

1,117

389

727

$20,000 to $24,999

1,246

63

97

87

126

215

657

265

393

$25,000 to $29,999

915

19

98

82

151

185

380

189

190

$30,000 to $34,999

874

42

142

130

152

148

260

123

138

$35,000 to $39,999

624

14

123

98

137

96

157

68

89

$40,000 to $44,999

577

25

98

96

131

120

106

58

47

$45,000 to $49,999

392

16

56

46

114

74

87

48

39

$50,000 to $54,999

336

7

57

61

92

78

42

29

13

$55,000 to $59,999

195

4

35

33

41

41

41

27

14

$60,000 to $64,999

207

–

34

48

48

34

41

29

12

$65,000 to $69,999

127

–

25

16

24

22

39

22

18

$70,000 to $74,999

143

4

11

34

37

43

14

10

5

$75,000 to $79,999

78

–

15

17

20

20

6

4

2

$80,000 to $84,999

77

–

9

16

17

22

13

5

8

$85,000 to $89,999

55

–

6

12

15

11

9

3

6

$90,000 to $94,999

68

–

17

10

17

9

16

6

10

Non-Hispanic white women living alone Under $5,000 $5,000 to $9,999

$95,000 to $99,999 $100,000 or more Median income

57

–

9

21

7

9

10

8

2

328

–

33

58

70

81

85

34

52

$18,803

$15,396

$34,475

$34,005

$32,511

$24,031

$14,184

$16,412

$13,452

PERCENT DISTRIBUTION

Non-Hispanic white women living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

61.8

76.4

28.6

33.6

34.9

51.7

80.6

72.4

85.1

$25,000 to $49,999

25.6

20.9

48.2

38.5

41.5

30.3

14.7

20.3

11.6

$50,000 to $74,999

7.6

2.7

15.1

16.4

14.6

10.6

2.6

4.9

1.4

$75,000 to $99,999

2.5

–

5.2

6.5

4.6

3.5

0.8

1.1

0.6

$100,000 or more

2.5

–

3.1

4.9

4.2

3.9

1.3

1.4

1.2

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 79

Incomes Are Low for Men Who Live Alone The median income of men who live alone was well below the national average in 2002. Both men and women who live alone have below-average incomes, but the median income of men who live alone is considerably higher than that of women who live alone—$26,808 versus $17,888 in 2002. The income gap by age is much smaller, however. The median income of men aged 25 to 34 who live alone is only slightly higher than that of their female counterparts—$32,595 versus $32,301. The incomes of men who live alone peak in the 35to-44 age group at $34,352. Those aged 65 or older have a median income of just $17,683. Most of the income gap between men and women who live alone is explained by their differing ages. While more than half (62 percent) of women who live alone are aged 55 or older, most men who live alone (64 percent) are under age 55. Most women who live alone are not in the labor force—they are widows who either never worked or are now retired. Most men who live alone have jobs, which is why their median income is substantially higher. Black and Hispanic men who live alone have incomes well below those of their nonHispanic white counterparts. The median income of black men who live alone was just $20,717 in 2002, while the figure was a slightly higher $20,980 for Hispanics. The median income of non-Hispanic white men who live alone stood at $28,954, while their Asian counterparts had an even higher median of $32,225. ■ The incomes of older men who live alone will rise in the years ahead as fewer opt for early retirement, remaining in the labor force well into their sixties.

Among men who live alone, incomes peak in the 35-to-44 age group (median household income of men who live alone, by age, 2002)

$32,595

$34,352 $31,708

$30,000

$25,182 $20,390 $20,000

$17,517

$17,810

65 to 74

75 or older

$10,000

$0

under 25

80

25 to 34

AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

HOUSEHOLD INCOME, 2002

Table 1.50

Men Living Alone by Household Income and Age of Householder, 2002: Total Men Living Alone

(number and percent distribution of men living alone by household income and age of householder, 2002; men living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

12,511

722

2,212

2,573

2,516

1,764

2,725

1,291

1,434

712

83

130

125

179

123

72

31

42

$5,000 to $9,999

1,346

86

130

184

222

235

489

276

213

$10,000 to $14,999

1,437

93

178

168

218

230

549

235

315

$15,000 to $19,999

1,118

90

138

157

161

165

406

175

231

$20,000 to $24,999

1,224

85

210

254

248

125

302

107

195

$25,000 to $29,999

1,015

82

188

233

156

142

216

91

125

$30,000 to $34,999

822

55

202

178

181

97

109

45

64

$35,000 to $39,999

830

47

186

198

189

85

125

63

62

$40,000 to $44,999

645

22

156

162

151

82

71

41

29

$45,000 to $49,999

487

22

140

119

89

65

52

25

27

$50,000 to $54,999

546

12

101

158

151

71

55

32

23

$55,000 to $59,999

311

12

66

76

84

39

34

20

14

$60,000 to $64,999

284

4

70

70

72

26

42

27

15

$65,000 to $69,999

217

2

53

67

44

28

24

16

9

$70,000 to $74,999

201

10

51

57

26

30

28

15

12

Total men living alone Under $5,000

$75,000 to $79,999

221

2

37

73

67

25

18

11

6

$80,000 to $84,999

195

3

41

47

70

26

9

3

6

$85,000 to $89,999

85

–

14

18

18

31

3

3

–

$90,000 to $94,999

93

7

13

22

27

20

4

4

–

$95,000 to $99,999

75

–

4

23

18

20

11

2

9

650

6

106

185

145

101

107

70

37

$26,808

$20,390

$32,595

$34,352

$31,708

$25,182

$17,683

$17,517

$17,810

$100,000 or more Median income

PERCENT DISTRIBUTION

Total men living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

46.7

60.5

35.5

34.5

40.9

49.8

66.7

63.8

69.5

$25,000 to $49,999

30.4

31.6

39.4

34.6

30.4

26.7

21.0

20.5

21.4

$50,000 to $74,999

12.5

5.5

15.4

16.6

15.0

11.0

6.7

8.5

5.1

$75,000 to $99,999

5.3

1.7

4.9

7.1

7.9

6.9

1.7

1.8

1.5

$100,000 or more

5.2

0.8

4.8

7.2

5.8

5.7

3.9

5.4

2.6

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 81

Table 1.51

Men Living Alone by Household Income and Age of Householder, 2002: Asian Men Living Alone

(number and percent distribution of Asian men living alone by household income and age of householder, 2002; men living alone in thousands as of 2003) total

under 45

45 or older

411 45 38 22

289 36 19 12

123 8 19 12

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

41 28 17 23 29 14

29 18 5 18 25 8

13 10 11 5 5 6

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

20 19 3 21 10 8

18 14 – 16 10 8

2 4 3 4 – –

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

8 17 5 7 2 34

5 14 2 5 – 26

3 3 3 2 1 8

$32,225

–

–

Asian men living alone Under $5,000 $5,000 to $9,999 $10,000 to $14,999

Median income

PERCENT DISTRIBUTION

Asian men living alone Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 42.3 25.1 14.8 9.5 8.3

100.0% 39.4 25.6 16.6 9.0 9.0

100.0% 50.4 23.6 8.9 9.8 6.5

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

82

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.52

Men Living Alone by Household Income and Age of Householder, 2002: Black Men Living Alone

(number and percent distribution of black men living alone by household income and age of householder, 2002; men living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

Black men living alone 1,753

114

298

393

371

241

336

202

133

Under $5,000

189

17

30

37

54

33

18

8

11

$5,000 to $9,999

288

15

18

49

56

49

101

61

40

$10,000 to $14,999

220

9

27

34

28

35

86

47

39

$15,000 to $19,999

147

15

21

23

31

23

34

19

15

$20,000 to $24,999

190

12

51

36

49

19

26

10

15

$25,000 to $29,999

153

13

26

53

22

15

24

17

7

$30,000 to $34,999

114

16

34

16

29

12

9

7

2

$35,000 to $39,999

113

3

28

25

32

11

12

11

1

$40,000 to $44,999

75

–

20

25

18

7

6

6

–

$45,000 to $49,999

49

4

6

19

7

11

2

2

–

$50,000 to $54,999

44

3

6

12

19

2

1

–

1

$55,000 to $59,999

35

5

6

14

2

3

6

4

2

$60,000 to $64,999

26

1

2

14

6

–

2

2

–

$65,000 to $69,999

13

–

–

5

3

4

3

3

–

$70,000 to $74,999

15

–

5

7

–

2

–

–

–

$75,000 to $79,999

11

–

–

9

–

1

1

1

–

$80,000 to $84,999

12

–

7

–

4

–

–

–

–

$85,000 to $89,999

5

–

–

3

–

2

–

–

–

$90,000 to $94,999

9

–

2

–

5

2

–

–

–

$95,000 to $99,999

3

–

–

2

1

–

–

–

–

40

1

10

11

5

8

6

4

1

$20,717

$20,249

$25,244

$26,448

$21,338

$15,558

$12,461

$12,517

$12,375

$100,000 or more Median income

PERCENT DISTRIBUTION

Black men living alone 100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

59.0

59.6

49.3

45.5

58.8

66.0

78.9

71.8

90.2

$25,000 to $49,999

28.8

31.6

38.3

35.1

29.1

23.2

15.8

21.3

7.5

$50,000 to $74,999

7.6

7.9

6.4

13.2

8.1

4.6

3.6

4.5

2.3

$75,000 to $99,999

2.3

–

3.0

3.6

2.7

2.1

0.3

0.5

–

$100,000 or more

2.3

0.9

3.4

2.8

1.3

3.3

1.8

2.0

0.8

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 83

Table 1.53

Men Living Alone by Household Income and Age of Householder, 2002: Hispanic Men Living Alone

(number and percent distribution of Hispanic men living alone by household income and age of householder, 2002; men living alone in thousands as of 2003) total

under 45

45 or older

Hispanic men living alone 809 Under $5,000 53 $5,000 to $9,999 138 $10,000 to $14,999 108

474 29 36 62

337 23 103 45

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

83 90 73 52 48 36

47 59 48 33 38 25

35 31 26 19 10 11

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

16 31 15 12 10 2

13 21 11 11 9 2

3 10 4 2 – –

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

8 11 2 – 4 17

2 9 2 – 4 8

6 1 – – – 9

$20,980

–

–

Median income

PERCENT DISTRIBUTION

Hispanic men living alone 100.0% Under $25,000 58.3 $25,000 to $49,999 27.8 $50,000 to $74,999 8.7 $75,000 to $99,999 3.1 $100,000 or more 2.1

100.0% 49.2 33.1 11.4 3.6 1.7

100.0% 70.3 20.5 4.7 2.1 2.7

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

84

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.54

Men Living Alone by Household Income and Age of Householder, 2002: Non-Hispanic White Men Living Alone

(number and percent distribution of non-Hispanic white men living alone by household income and age of householder, 2002; men living alone in thousands as of 2003) 65 or older total

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

1,227

Non-Hispanic white men living alone

9,421

490

1,532

1,873

1,927

1,374

2,226

999

Under $5,000

418

51

71

64

111

75

46

18

28

$5,000 to $9,999

872

55

96

108

136

154

323

177

146

$10,000 to $14,999

1,076

63

118

114

167

181

435

173

262

$15,000 to $19,999

830

61

90

92

118

117

351

142

208

$20,000 to $24,999

900

58

113

191

178

94

265

91

174

$25,000 to $29,999

757

57

135

158

113

114

179

69

111

$30,000 to $34,999

613

37

139

137

130

75

97

37

60

$35,000 to $39,999

641

38

122

152

147

72

110

51

59

$40,000 to $44,999

513

20

114

124

123

70

62

34

28

$45,000 to $49,999

402

17

118

91

79

51

47

22

26

$50,000 to $54,999

447

5

73

132

118

65

53

32

21

$55,000 to $59,999

255

5

57

59

72

35

28

15

12

$60,000 to $64,999

221

2

47

48

61

25

39

24

15

$65,000 to $69,999

182

2

41

52

41

23

21

13

9

$70,000 to $74,999

173

10

43

43

25

27

26

14

12

$75,000 to $79,999

194

1

33

61

60

22

17

10

6

$80,000 to $84,999

155

2

20

37

61

26

9

3

6

$85,000 to $89,999

72

–

12

13

16

28

3

3

–

$90,000 to $94,999

74

5

9

21

20

17

4

4

–

$95,000 to $99,999

67

–

4

18

15

19

11

2

9

558

2

77

159

134

86

99

65

35

$28,954

$21,059

$35,134

$36,765

$35,259

$28,144

$19,233

$19,494

$19,048

$100,000 or more Median income

PERCENT DISTRIBUTION

Non-Hispanic white men living alone

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

43.5

58.8

31.9

30.4

36.8

45.2

63.8

60.2

66.7

$25,000 to $49,999

31.1

34.5

41.0

35.3

30.7

27.8

22.2

21.3

23.1

$50,000 to $74,999

13.6

4.9

17.0

17.8

16.5

12.7

7.5

9.8

5.6

$75,000 to $99,999

6.0

1.6

5.1

8.0

8.9

8.2

2.0

2.2

1.7

$100,000 or more

5.9

0.4

5.0

8.5

7.0

6.3

4.4

6.5

2.9

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 85

Two-Income Households Have Above-Average Incomes Households with only one earner have incomes well below average. The country’s 48 million households with two or more earners account for 43 percent of the nation’s 111 million households. Those with only one earner are another 36 percent, while households with no earners—many of them headed by retirees—account for the remaining 21 percent. The median income of households with one earner stood at $34,799 in 2002, 18 percent below the national median of $42,409. In contrast, the median income of two-earner households was $65,544—55 percent higher than average. Only 8 percent of one-earner households have incomes of $100,000 or more versus 23 percent of households with two earners. Households with no earners had a median income of just $15,401 in 2002. Not surprisingly, households with three or more earners have the highest incomes, a median of $84,811. Fully 32 percent of three-earner households have incomes of $100,000 or more. Only 9 percent of households have three or more earners, however. The median income of black households is just 62 percent as high as that of nonHispanic white households, but among households with two earners the black median is 77 percent of the non-Hispanic white median. The overall black household median is much lower than the non-Hispanic white median because only 33 percent of black households have two or more earners versus 44 percent of non-Hispanic white households. Asian households are even more likely to have two earners, at 48 percent. Among two-earner households, blacks have higher incomes than Hispanics ($54,222 versus $45,753), while Asians and non-Hispanic whites have the highest incomes of all ($70,402 and $70,163, respectively). ■ The number of households with no earners should surge in about ten years as the oldest boomers begin to retire.

Households with three or more earners have the highest incomes (median income of households by number of earners, 2002)

$84,811 $75,000

$65,544

$50,000

$34,799 $25,000

$15,401

$0

no earners

86

AMERICAN INCOMES: Demographics of Who Has Money

one earner

two earners

three or more earners

HOUSEHOLD INCOME, 2002

Table 1.55

Households by Income and Number of Earners, 2002: Total Households

(number and percent distribution of total households by household income and number of earners, 2002; households in thousands as of 2003) two or more earners

Total households

total

no earners

one earner

total

two earners

three or more earners

111,278

23,347

40,078

47,853

38,261

9,593

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

3,533 6,557 7,836 7,227 7,419 6,943

2,365 4,547 4,480 3,126 2,271 1,672

1,029 1,755 2,908 3,323 3,953 3,624

139 256 448 779 1,195 1,646

136 247 425 732 1,120 1,493

3 8 22 47 77 153

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

6,729 6,066 5,713 5,030 5,019 4,207

1,179 829 607 426 322 279

3,554 3,037 2,625 1,998 2,004 1,302

1,996 2,200 2,482 2,604 2,692 2,624

1,761 1,937 2,153 2,195 2,245 2,159

235 263 328 411 448 464

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

4,233 3,400 3,456 3,239 2,837 2,202

193 161 131 130 98 54

1,304 863 947 885 678 407

2,737 2,377 2,379 2,225 2,061 1,741

2,284 1,876 1,880 1,749 1,580 1,319

452 500 499 475 480 423

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

2,141 1,811 15,676

55 61 358

425 329 3,130

1,661 1,422 12,188

1,223 1,020 8,726

439 402 3,462

$42,409

$15,401

$34,799

$69,372

$65,544

$84,811

Median income

PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999

100.0% 29.3 27.4

100.0% 71.9 20.2

100.0% 32.4 37.0

100.0% 5.9 22.8

100.0% 7.0 24.9

100.0% 2.0 16.8

$50,000 to $74,999 $75,000 to $99,999 $100,000 or more

18.3 11.0 14.1

4.7 1.7 1.5

16.0 6.8 7.8

26.8 19.0 25.5

27.3 18.0 22.8

26.1 23.1 32.0

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 87

Table 1.56

Households by Income and Number of Earners, 2002: Asian Households

(number and percent distribution of Asian households by household income and number of earners, 2002; households in thousands as of 2003) two or more earners total

no earners

one earner

total

two earners

three or more earners

Asian households Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

4,079 176 153 163 216

536 125 110 59 73

1,588 42 37 90 112

1,956 9 6 15 30

1,496 9 6 11 25

460 – – 5 5

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

214 193 228 208 177 182 221

49 25 20 12 8 3 14

115 112 126 118 73 75 100

50 56 82 77 96 104 108

47 50 58 68 86 94 94

3 6 23 8 10 9 15

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

134 171 99 147 114 142

2 2 3 10 3 -

44 72 25 70 48 64

88 96 72 67 63 78

64 77 56 40 49 47

25 19 16 27 14 31

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

86 87 79 889

6 12

21 35 18 191

65 53 56 685

49 40 44 483

15 12 12 202

$52,285

$12,248

$41,960

$76,731

$70,402

$88,200

Median income

PERCENT DISTRIBUTION

Asian households Under $25,000

100.0% 22.6

100.0% 77.6

100.0% 24.9

100.0% 5.6

100.0% 6.6

100.0% 4.1

$25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

24.2 18.9 12.5 21.8

12.7 5.8 1.7 2.2

31.7 19.6 11.7 12.0

21.2 22.0 16.1 35.0

23.8 22.1 15.3 32.3

13.5 23.2 18.5 40.1

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

88 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.57

Households by Income and Number of Earners, 2002: Black Households

(number and percent distribution of black households by household income and number of earners, 2002; households in thousands as of 2003) two or more earners total

no earners

one earner

total

two earners

three or more earners

Black households Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

13,778 956 1,476 1,315 1,171

3,093 659 992 586 306

6,080 275 438 650 735

4,606 22 47 79 131

3,756 22 47 79 128

849 – – – 2

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

1,079 1,032 960 849 606 584 472

158 121 75 54 42 16 14

760 665 593 453 327 253 192

161 246 293 341 238 315 266

152 225 266 313 196 258 221

9 21 26 28 41 57 45

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

446 367 331 305 261 229

22 9 7 6 9 2

163 119 83 68 54 56

261 239 241 231 200 171

209 194 180 185 152 132

52 46 61 47 47 39

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

155 149 131 904

– – 1 16

20 27 14 138

136 122 116 750

95 96 77 530

42 25 40 220

$29,177

$9,434

$26,103

$57,612

$54,222

$75,727

Median income

PERCENT DISTRIBUTION

Black households Under $25,000

100.0% 44.9

100.0% 87.3

100.0% 47.0

100.0% 9.6

100.0% 11.4

100.0% 1.6

$25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

28.3 14.0 6.5 6.1

10.0 1.9 0.4 0.5

37.7 10.3 2.8 2.3

31.1 26.9 16.2 16.3

33.5 26.3 14.7 14.1

22.5 30.9 23.5 21.6

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 89

Table 1.58 Households by Income and Number of Earners, 2002: Hispanic Households (number and percent distribution of Hispanic households by household income and number of earners, 2002; households in thousands as of 2003) two or more earners total

no earners

one earner

total

two earners

three or more earners

Hispanic households 11,339 Under $5,000 484 $5,000 to $9,999 763 $10,000 to $14,999 919

1,436 304 420 283

4,319 155 294 524

5,584 25 49 110

4,107 24 45 105

1,476 – 4 5

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

960 995 954 829 745 614

168 74 61 41 22 18

600 603 499 348 313 201

191 319 394 439 410 396

179 298 343 367 337 310

12 22 51 72 73 86

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

495 538 407 400 293 272

5 7 3 11 4 –

123 146 89 95 46 35

368 384 316 294 244 237

257 280 210 219 147 166

111 105 106 75 97 72

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

233 201 171 138 111 815

5 1 2 – 1 5

51 36 18 12 9 125

178 165 153 126 102 685

107 114 79 82 58 383

70 51 72 44 44 302

$33,103

$9,933

$24,816

$51,067

$45,753

$64,988

Median income

PERCENT DISTRIBUTION

Hispanic households 100.0% Under $25,000 36.3 $25,000 to $49,999 32.1 $50,000 to $74,999 16.8 $75,000 to $99,999 7.5 $100,000 or more 7.2

100.0% 87.0 10.2 1.7 0.6 0.3

100.0% 50.4 34.4 9.5 2.9 2.9

100.0% 12.4 35.9 26.4 13.0 12.3

100.0% 15.9 39.3 24.9 10.7 9.3

100.0% 4.0 32.1 30.9 16.7 16.3

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

90 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.59

Households by Income and Number of Earners, 2002: Non-Hispanic White Households

(number and percent distribution of non-Hispanic white households by household income and number of earners, 2002; households in thousands as of 2003) two or more earners total

no earners

one earner

total

two earners

three or more earners

Non-Hispanic white households 81,166 Under $5,000 1,886 $5,000 to $9,999 4,091

18,090 1,268 2,987

27,730 538 956

35,346 79 148

28,596 76 145

6,750 3 2

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

5,357 4,813 5,073 4,724 4,627 4,202

3,500 2,558 1,973 1,449 1,036 727

1,617 1,838 2,442 2,331 2,439 2,117

240 416 657 944 1,151 1,357

228 391 614 873 1,039 1,205

12 25 44 70 112 153

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

4,241 3,741 3,753 3,205 3,275 2,651

530 401 286 253 168 146

2,002 1,532 1,550 1,003 1,006 696

1,709 1,808 1,918 1,950 2,101 1,809

1,524 1,575 1,637 1,664 1,788 1,483

185 233 281 285 314 325

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

2,695 2,606 2,258 1,776 1,755 1,480

113 114 97 52 55 52

767 727 519 344 349 286

1,814 1,765 1,643 1,380 1,350 1,142

1,466 1,423 1,283 1,087 995 836

350 342 360 293 356 306

$100,000 or more Median income

12,958

325

2,669

9,965

7,264

2,701

$46,900

$17,252

$38,784

$73,639

$70,163

$88,930

PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 26.1 26.5 19.2 12.2

100.0% 67.9 22.9 5.3 2.0

100.0% 26.7 37.6 18.1 8.0

100.0% 4.4 19.7 27.1 20.6

100.0% 5.1 21.7 28.1 19.7

100.0% 1.5 13.0 24.9 24.8

16.0

1.8

9.6

28.2

25.4

35.9

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 91

Married Couples with School-Aged Children Have the Highest Incomes Empty-nesters have lower incomes than couples with children. Married couples with children aged 6 to 17 and none younger had a median income of $71,151 in 2002, much higher than the median income of couples with younger or no children at home. Behind these income differences are the differing ages of married couples. Those with only school-aged children at home are generally older and more likely to be in their peak earning years than those with younger children. Many couples without children at home are empty-nesters and retired, accounting for their lower incomes. The income pattern is the same regardless of race or Hispanic origin, although there are substantial income differences among Asian, black, Hispanic, and non-Hispanic white couples. Non-Hispanic white couples with children aged 6 to 17 and none younger had a median income of $76,609 in 2002. Their Asian counterparts had a household income only slightly lower, at $72,898. The incomes of black couples with children aged 6 to 17 stood at $60,725 in 2002, while Hispanic couples with school-aged children had a much lower median of $43,009. Only 11 percent of Hispanic couples with children aged 6 to 17 and none younger had incomes of $100,000 or more versus 18 percent of black couples and 31 percent of Asian and non-Hispanic white couples. ■ Many of the nation’s most affluent households are juggling with the competing costs of raising children, saving for college, and putting something aside for retirement.

Couples with school-aged children are the most affluent (median income of married couples by presence and age of children under age 18 at home, 2002)

$71,151 $61,026 $56,947

$56,895 $50,000

$25,000

$0

no children

92 AMERICAN INCOMES: Demographics of Who Has Money

with children, all under 6

with children, under 6 and 6–17

with children, all 6–17

HOUSEHOLD INCOME, 2002

Table 1.60

Married Couples by Household Income and Presence of Children, 2002: Total Married Couples

(number and percent distribution of married couples by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

57,327 659 777 1,576 2,243 2,757

30,275 399 495 1,023 1,469 1,679

27,052 260 282 554 775 1,078

6,546 79 90 175 244 329

5,955 63 75 140 205 321

14,551 118 117 239 326 428

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

2,936 2,975 2,836 2,898 2,742 2,877

1,766 1,735 1,603 1,544 1,400 1,446

1,170 1,241 1,233 1,354 1,342 1,431

317 303 321 350 320 341

338 354 317 331 331 345

515 583 595 672 691 745

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

2,663 2,830 2,253 2,414 2,356 2,113

1,387 1,404 1,114 1,133 1,144 1,032

1,276 1,426 1,139 1,281 1,212 1,081

311 342 269 302 283 236

310 301 249 253 254 237

655 783 621 727 674 608

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

1,682 1,687 1,395 12,659

825 837 658 6,184

857 850 738 6,475

192 178 182 1,383

146 163 122 1,101

520 509 434 3,991

$61,130

$56,895

$65,399

$61,026

$56,947

$71,151

Total married couples Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

Median income

PERCENT DISTRIBUTION

Total married couples Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 14.0 25.1

100.0% 16.7 26.6

100.0% 10.9 23.4

100.0% 14.0 24.6

100.0% 13.5 28.1

100.0% 8.4 21.0

22.7 16.1 22.1

21.4 14.9 20.4

24.2 17.5 23.9

23.9 16.4 21.1

24.5 15.5 18.5

24.3 18.9 27.4

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 93

Table 1.61

Married Couples by Household Income and Presence of Children, 2002: Asian Married Couples

(number and percent distribution of Asian married couples by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

2,344 39 20 68

976 17 11 36

1,368 22 9 32

427 8 2 12

236 2 1 2

705 11 6 18

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

78 87 96 108 111 100

44 38 32 49 63 36

34 49 62 59 48 65

14 15 15 17 12 18

1 19 10 13 10 17

19 14 37 28 25 28

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

109 132 87 112 71 100

52 48 29 55 29 35

57 84 58 58 42 64

25 33 13 15 16 17

7 12 10 16 4 3

24 38 35 26 22 45

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

77 92 62 67 43 684

30 26 16 29 19 280

47 68 46 38 25 404

15 23 15 12 11 117

9 17 8 3 – 71

24 27 24 22 14 217

$66,261

$62,215

$70,643

$68,452

$62,769

$72,898

Asian married couples Under $5,000 $5,000 to $9,999 $10,000 to $14,999

Median income

PERCENT DISTRIBUTION

Asian married couples Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 12.5 22.4 21.4 14.5 29.2

100.0% 15.0 23.8 20.1 12.3 28.7

100.0% 10.7 21.3 22.4 16.4 29.5

100.0% 11.9 20.4 22.0 17.8 27.4

100.0% 10.6 24.2 19.1 15.7 30.1

100.0% 9.6 20.1 23.5 15.7 30.8

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

94 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.62

Married Couples by Household Income and Presence of Children, 2002: Black Married Couples

(number and percent distribution of black married couples by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

4,268 66

1,928 38

2,340 27

471 6

577 7

1,293 15

$5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999

80 153 231 250 269 251

62 98 137 127 132 100

18 55 94 123 137 151

3 15 26 36 29 29

6 19 26 39 42 37

8 21 42 48 65 86

$35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999

276 196 265 208 210 208

139 94 110 86 105 78

137 103 156 121 105 130

29 18 26 21 14 21

37 19 48 32 27 39

71 65 82 70 64 70

$65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999

185 182 162 143 101 112

74 79 64 53 38 25

110 103 98 90 62 87

23 31 20 16 6 19

26 21 24 20 19 14

61 50 55 53 37 54

$95,000 to $99,999 $100,000 or more

82 637

21 267

61 370

10 71

5 69

46 230

$52,134

$46,609

$56,784

$54,196

$51,187

$60,725

Black married couples Under $5,000

Median income

PERCENT DISTRIBUTION

Black married couples Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 18.3 29.5 23.3

100.0% 24.0 29.8 21.9

100.0% 13.5 29.2 24.3

100.0% 18.3 27.8 23.4

100.0% 16.8 31.7 25.1

100.0% 10.4 28.5 24.4

14.1 14.9

10.4 13.8

17.0 15.8

15.1 15.1

14.2 12.0

18.9 17.8

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 95

Table 1.63

Married Couples by Household Income and Presence of Children, 2002: Hispanic Married Couples

(number and percent distribution of Hispanic married couples by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

Hispanic married couples 6,189

1,948

4,242

1,022

1,340

1,879

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

118 177 385 477 536 515

39 84 163 149 125 126

79 93 222 329 411 388

28 24 63 97 120 90

22 34 70 113 139 144

30 35 89 118 152 154

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

475 413 381 285 342 261

153 116 106 95 103 78

322 297 275 188 239 184

81 61 64 34 52 33

111 90 89 73 70 66

131 147 121 82 116 85

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

277 186 183 168 134 121

70 65 48 44 45 51

207 122 135 125 89 69

53 30 26 30 17 21

58 40 44 37 27 11

96 51 65 58 45 38

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

99 71 584

30 23 234

68 49 351

16 9 75

17 19 66

36 21 209

$39,976

$40,641

$39,617

$35,540

$36,626

$43,009

Median income

PERCENT DISTRIBUTION

Hispanic married couples 100.0% Under $25,000 27.4 $25,000 to $49,999 33.4 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

20.2 9.6 9.4

100.0% 28.7 30.6

100.0% 26.7 34.7

100.0% 32.5 32.3

100.0% 28.2 37.8

100.0% 22.6 33.8

18.7 9.9 12.0

20.9 9.4 8.3

19.0 9.1 7.3

20.7 8.3 4.9

22.0 10.5 11.1

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

96 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.64

Married Couples by Household Income and Presence of Children, 2002: Non-Hispanic White Married Couples

(number and percent distribution of non-Hispanic white married couples by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

married couples Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

44,109 432 485 964 1,450 1,882

25,229 301 329 721 1,127 1,382

18,879 131 156 242 323 499

4,600 39 58 81 110 156

3,775 31 32 49 66 132

10,505 61 65 111 146 210

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

2,041 2,114 1,989 2,180 2,061 2,181

1,463 1,421 1,265 1,286 1,135 1,199

577 693 723 894 927 981

178 176 211 248 234 237

138 185 182 198 199 227

261 332 331 449 493 518

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

2,097 2,218 1,785 1,929 1,935 1,733

1,171 1,196 932 965 1,004 902

925 1,022 853 964 931 831

249 252 203 226 221 182

211 189 174 181 184 170

465 581 476 557 526 479

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

1,390 1,395 1,189 10,661

718 742 588 5,379

671 653 601 5,282

146 130 150 1,112

111 129 97 890

414 394 354 3,280

$64,905

$59,125

$72,133

$66,401

$66,169

$76,609

Non-Hispanic white

Median income

PERCENT DISTRIBUTION

Non-Hispanic white married couples Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

11.8 23.5 23.1 17.3 24.2

15.3 26.0 21.7 15.7 21.3

7.2 20.2 25.1 19.5 28.0

9.7 22.8 25.4 18.0 24.2

8.2 23.9 26.0 18.3 23.6

5.6 17.8 24.7 20.6 31.2

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 97

Dual Earners Dominate Married Couples Traditional couples account for only 17 percent of the nation’s married-couple households. Of the nation’s 57 million married couples, 34 million—or 59 percent—are dual earners, meaning both husband and wife are in the labor force. Seventeen million couples are dual earners with full-time jobs, accounting for 30 percent of all married couples. The median income of these couples stood at $83,820 in 2002, 37 percent higher than the median income of all couples. Only 9 million couples (17 percent) can be considered traditional, meaning only the husband works and he has a full-time job. These couples had a median income of $55,708, 9 percent below the median for all couples. Among dual-earner couples who work full-time, those without children under age 18 at home have the highest incomes, a median of $86,802 in 2002. Thirty-nine percent have an income of $100,000 or more. Behind the higher incomes of working couples without children at home is their older age relative to other working couples. Most are empty nesters in their peak earning years. Couples with children aged 6 to 17 and none younger rank second in income among dual earners, again because they are older and more likely to be in their peak earning years than couples with younger children at home. ■ As the children of the large baby-boom generation grow up and leave home, millions of boomers will join the ranks of affluent empty-nesters.

Dual-earner empty-nesters are the nation’s income elite (median income of married couples in which both husband and wife work full-time, by presence and age of children under age 18 at home, 2002)

$86,802

$83,094

$80,220 $75,224 $75,000

$50,000

$25,000

$0

no children

98

AMERICAN INCOMES: Demographics of Who Has Money

with children, all under 6

with children, under 6 and 6–17

with children, all 6–17

HOUSEHOLD INCOME, 2002

Table 1.65

Dual-Income Married Couples by Household Income and Presence of Children, 2002: Husband and Wife Work

(number and percent distribution of married couples in which both husband and wife work by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

Husband and wife work 33,606 Under $5,000 98 $5,000 to $9,999 124

15,225 44 49

18,381 54 74

4,219 17 24

3,523 8 20

10,639 29 30

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

184 362 595 861 1,076 1,235

69 138 212 348 421 508

116 224 384 512 655 727

33 75 122 161 146 183

27 48 102 125 178 175

56 99 161 227 330 370

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

1,513 1,650 1,717 1,789 1,969 1,624

641 688 733 800 907 707

871 962 986 989 1,062 917

223 230 218 237 235 214

205 212 204 225 205 185

443 521 563 526 621 519

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

1,745 1,705 1,630 1,342 1,332 1,125

743 783 753 612 636 516

1,002 922 876 729 696 609

232 214 182 155 141 142

182 165 170 113 125 90

587 542 524 461 430 378

$100,000 or more Median income

9,930

4,918

5,012

1,030

758

3,224

$75,637

$78,561

$73,071

$69,660

$65,666

$76,954

PERCENT DISTRIBUTION

Husband and wife work Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 4.1 18.9 26.3 21.2

100.0% 3.4 17.1 25.6 21.7

100.0% 4.6 20.3 27.0 20.8

100.0% 6.4 22.4 26.9 19.8

100.0% 5.8 25.4 28.4 18.8

100.0% 3.5 17.8 26.5 21.9

29.5

32.3

27.3

24.4

21.5

30.3

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 99

Table 1.66

Dual-Income Married Couples by Household Income and Presence of Children, 2002: Husband and Wife Work Full-Time

(number and percent distribution of married couples in which both husband and wife work full-time by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

Husband and wife work full-time Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

17,356 33 14 33 55

8,516 13 4 17 19

8,840 19 10 16 36

1,770 2 2 3 13

1,456 3 – 2 6

5,614 15 8 11 16

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999

96 192 309 449 540 693

33 88 128 200 228 297

63 104 181 250 312 396

18 22 28 57 81 70

8 34 47 48 59 85

36 47 106 145 173 240

$50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

839 817 1,060 882 951 968 952

393 403 530 398 437 439 468

446 414 531 484 512 530 484

92 88 89 99 93 122 95

86 66 98 96 85 77 97

267 259 344 289 335 332 291

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

791 832 638 6,213

407 410 304 3,302

385 422 334 2,911

76 89 72 558

46 69 47 397

263 264 215 1,957

$83,820

$86,802

$81,115

$80,220

$75,224

$83,094

Median income

PERCENT DISTRIBUTION

Husband and wife work full-time

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

1.3 12.6 26.2 24.1 35.8

1.0 11.0 25.4 23.8 38.8

1.6 14.1 27.0 24.4 32.9

2.1 14.6 26.0 25.6 31.5

1.3 18.8 29.6 23.1 27.3

1.5 12.7 26.6 24.3 34.9

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

100

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.67

Single-Income Married Couples by Household Income and Presence of Children, 2002: Husband Works Full-Time, Wife Does Not Work

(number and percent distribution of married couples in which the husband works full-time and the wife does not work, by household income and presence and age of related children under age 18 at home, 2002; married couples in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

Husband works full-time, wife does not work 9,488 Under $5,000 48 $5,000 to $9,999 83 $10,000 to $14,999 234 $15,000 to $19,999 408

3,342 23 32 68 95

6,145 24 51 166 313

1,775 7 19 61 111

1,827 4 12 51 96

2,543 12 20 54 106

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999

559 635 601 559 531 431

124 164 217 202 195 162

436 471 384 358 336 268

149 134 111 112 109 62

140 157 126 108 101 87

147 180 147 137 126 119

$50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999

581 385 494 306 377 391

236 157 192 128 148 146

346 228 302 179 229 244

100 65 93 48 62 63

123 72 88 59 67 76

124 91 123 74 100 105

$80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

283 207 238 157 1,976

106 105 112 58 671

177 103 127 99 1,305

49 31 32 35 322

58 26 35 23 317

70 45 59 42 666

$55,708

$59,812

$53,060

$50,415

$50,831

$60,400

Median income

PERCENT DISTRIBUTION

Husband works full-time, wife does not work 100.0% Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

14.0 29.1 22.6 13.4 20.8

100.0%

100.0%

100.0%

100.0%

100.0%

10.2 28.1 25.8 15.8 20.1

16.1 29.6 20.9 12.2 21.2

19.5 29.7 20.7 11.8 18.1

16.6 31.7 22.4 11.9 17.4

13.3 27.9 20.1 12.6 26.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 101

Female-Headed Families without Children Have Higher Incomes Those with preschoolers have the lowest incomes. The median income of all female-headed families stood at $26,423 in 2002. Women who head families that include children under age 18 have lower incomes (a median of $22,637) than those who head families without children (a median of $35,925). Behind this income difference is the fact that female-headed families without children include adult relatives and are more likely to have an additional earner in the home. Black and Hispanic female-headed families with children have the lowest incomes— a median of $19,238 for blacks and $19,453 for Hispanics. The median income of non-Hispanic white female-headed families with children is a higher $26,337, and Asian femaleheaded families with children have the highest median income—$29,968 in 2002. ■ The median income of female-headed families may rise in the years ahead as the population ages and a growing share are headed by older women.

Female-headed families with children have low incomes (median income of female-headed families by presence and age of children under age 18 at home, 2002)

$35,925 $86,802

$83,094

$80,220 $75,224

$30,000

$26,001

$20,000

$17,986

$17,764

with children, all under 6

with children, under 6 and 6–17

$10,000

$0

no children

102

AMERICAN INCOMES: Demographics of Who Has Money

with children, all 6–17

HOUSEHOLD INCOME, 2002

Table 1.68

Female-Headed Families by Household Income and Presence of Children, 2002: Total Female-Headed Families

(number and percent distribution of total female-headed families by household income and presence and age of related children under age 18 at home, 2002; female-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

13,626 1,060

4,212 113

9,414 947

2,002 339

1,763 238

5,649 369

$5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999

1,221 1,435 1,461 1,280 1,157 1,078

211 305 392 321 341 351

1,010 1,130 1,069 958 816 728

269 239 222 190 165 136

261 236 228 185 131 129

481 656 619 585 520 462

$35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999

837 740 625 474 403 341

320 303 243 206 180 169

517 437 382 267 224 172

90 69 41 38 38 25

73 50 55 34 25 30

353 318 286 195 159 117

$65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999

237 199 176 144 108 79

105 102 82 59 58 47

132 98 94 85 50 32

36 22 15 18 10 5

9 9 10 6 7 3

87 66 70 61 33 24

$95,000 to $99,999 $100,000 or more

78 494

40 268

38 226

9 26

6 38

24 161

$26,423

$35,925

$22,637

$17,986

$17,764

$26,001

Total female-headed families Under $5,000

Median income

PERCENT DISTRIBUTION

Total female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 47.4 32.6

100.0% 31.9 37.0

100.0% 54.3 30.6

100.0% 62.9 25.0

100.0% 65.1 24.8

100.0% 48.0 34.3

12.1 4.3 3.6

18.1 6.8 6.4

9.5 3.2 2.4

7.9 2.8 1.3

6.1 1.8 2.2

11.0 3.8 2.9

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 103

Table 1.69

Female-Headed Families by Household Income and Presence of Children, 2002: Asian Female-Headed Families

(number and percent distribution of Asian female-headed families by household income and presence of related children under age 18 at home, 2002; female-headed families in thousands as of 2003) total

no children

with one or more children

354 22 16 15 29

166 5 7 2 16

188 16 9 13 14

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

33 29 32 17 25 13 15

7 13 16 6 14 4 8

26 16 17 10 10 9 7

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

15 11 1 11 4 7

9 7 1 11 – 3

6 4 – – 4 4

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

5 4 8 45

1 4 6 27

3 – 2 18

$35,205

$43,245

$29,968

Asian female-headed families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

Median income

PERCENT DISTRIBUTION

Asian female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0%

100.0%

100.0%

32.5 32.8 15.0 7.9 12.7

22.3 31.9 21.7 8.4 16.3

41.5 33.0 9.0 6.9 9.6

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

104

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.70

Female-Headed Families by Household Income and Presence of Children, 2002: Black Female-Headed Families

(number and percent distribution of black female-headed families by household income and presence and age of related children under age 18 at home, 2002; female-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

4,072 442

952 38

3,120 403

663 134

687 105

1,770 164

$5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999

463 516 515 357 362 324

70 97 115 86 88 85

393 419 400 271 275 239

101 66 71 52 53 51

107 99 102 48 58 49

186 254 226 171 163 138

$35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999

217 179 153 86 99 57

64 63 50 28 31 17

153 115 103 58 67 40

23 27 10 13 12 5

28 16 22 8 10 10

102 72 71 36 44 25

$65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999

63 38 37 43 16 12

24 17 13 14 4 7

40 20 25 28 11 6

16 8 – 3 5 2

4 2 4 2 – –

20 11 20 23 6 3

$95,000 to $99,999 $100,000 or more

20 75

7 34

14 40

2 7

– 11

12 22

$21,289

$28,811

$19,238

$16,832

$16,214

$21,670

Black female-headed families Under $5,000

Median income

PERCENT DISTRIBUTION

Black female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 56.3 30.3

100.0% 42.6 36.8

100.0% 60.4 28.4

100.0% 64.0 24.7

100.0% 67.1 25.2

100.0% 56.6 30.8

8.4 3.1 1.8

12.3 4.7 3.6

7.2 2.7 1.3

8.1 1.8 1.1

4.9 0.9 1.6

7.7 3.6 1.2

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 105

Table 1.71

Female-Headed Families by Household Income and Presence of Children, 2002: Hispanic Female-Headed Families

(number and percent distribution of Hispanic female-headed families by household income and presence and age of related children under age 18 at home, 2002; female-headed families in thousands as of 2003) one or more children under age 18

Hispanic female-headed families

total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

2,033

445

1,587

325

405

857

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

221 221 260 235 222 187

23 23 42 37 57 47

198 198 218 198 165 140

61 41 43 44 25 30

66 66 56 36 44 31

71 90 118 118 95 78

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

131 148 62 59 45 39

37 40 20 14 12 8

95 107 43 45 34 31

21 19 6 6 7 3

32 16 6 10 9 8

41 72 30 29 18 19

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

35 34 27 22 10 13

14 15 12 12 3 4

21 19 15 10 8 10

2 2 4 3 – –

7 3 2 – 1 –

11 14 9 6 7 10

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

14 6 41

9 – 17

6 5 24

– – 5

2 2 5

4 2 14

$21,511

$28,969

$19,453

$16,228

$16,525

$21,327

Median income

PERCENT DISTRIBUTION

Hispanic female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 57.0 28.9

100.0% 40.9 35.5

100.0% 61.6 27.1

100.0% 65.8 25.2

100.0% 66.2 23.5

100.0% 57.4 29.2

8.9 3.2 2.0

13.7 6.3 3.8

7.6 2.5 1.5

5.5 0.9 1.5

7.2 1.2 1.2

8.3 3.4 1.6

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

106

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.72

Female-Headed Families by Household Income and Presence of Children, 2002: Non-Hispanic White Female-Headed Families

(number and percent distribution of non-Hispanic white female-headed families by household income and presence and age of related children under age 18 at home, 2002; female-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

7,072 376 511 617 662 656

2,602 47 112 151 222 165

4,470 331 399 466 439 491

952 133 116 120 98 109

640 67 75 88 82 84

2,878 130 208 259 259 298

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

584 574 460 463 401 330

193 203 203 201 177 158

391 370 257 262 225 172

79 59 46 31 25 20

39 47 29 27 20 17

273 263 181 205 180 136

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

251 234 138 123 112 85

128 130 65 61 55 40

123 103 72 61 57 45

21 16 18 12 12 14

9 12 3 5 4 2

93 76 52 45 41 30

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

75 48 44 328

50 28 27 186

25 20 17 142

2 3 6 11

5 1 3 21

17 16 7 110

$31,031

$40,121

$26,337

$20,347

$20,427

$30,216

Non-Hispanic white female-headed families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

Median income

PERCENT DISTRIBUTION

Non-Hispanic white female-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

39.9 35.1 15.2 5.1 4.6

26.8 37.5 20.8 7.7 7.1

47.6 33.7 11.9 3.7 3.2

60.5 25.2 9.1 3.9 1.2

61.9 25.3 7.2 2.3 3.3

40.1 38.3 14.0 3.9 3.8

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 107

Male-Headed Families without Children Have Higher Incomes Those with preschoolers have the lowest incomes. The median income of male-headed families stood at $37,739 in 2002, below the all-household median of $42,409 but well above the $26,423 of their female counterparts. Male-headed families that do not include children under age 18 have above average incomes, with a median of $44,337 in 2002. Men who head families without dependent children live with adult relatives such as siblings or parents. Many of these households have more than one wage earner, which boosts income. Of the nation’s 5 million male-headed families, only 51 percent include children under age 18. A much larger 69 percent of female-headed families have children under age 18 at home. The incomes of black and Hispanic male-headed families are well below those of nonHispanic whites or Asians. The income difference is partly due to the fact that Hispanic and black male-headed families are more likely to include children under age 18 (57 and 53 percent, respectively) than those headed by non-Hispanic whites (49 percent). Black maleheaded families had a median income of $31,438 in 2002, while the Hispanic median was $31,859. The non-Hispanic white median was a much higher $41,197. Asian male-headed families are least likely to include children under age 18 (36 percent), and their median income was fully $52,410 in 2002. ■ Male-headed families are the least common household type, accounting for only 4 percent of households, a status that is unlikely to change anytime soon.

Incomes vary for male-headed families (median income of male-headed families by presence and age of children under age 18 at home, 2002)

$44,337 $40,000

$36,403 $26,246

$28,451

$20,000

$0

no children

108

AMERICAN INCOMES: Demographics of Who Has Money

with children, all under 6

with children, under 6 and 6–17

with children, all 6–17

HOUSEHOLD INCOME, 2002

Table 1.73

Male-Headed Families by Household Income and Presence of Children, 2002: Total Male-Headed Families

(number and percent distribution of total male-headed families by household income and presence and age of related children under age 18 at home, 2002; male-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

4,663 167 163 264 342 427

2,283 44 74 110 106 192

2,380 123 88 156 235 236

607 37 29 49 75 85

286 14 13 25 44 27

1,487 71 47 82 116 124

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

365 393 328 347 263 244

130 183 137 183 135 142

234 211 191 164 128 102

74 62 45 47 16 21

27 24 20 18 13 15

133 125 127 99 99 67

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

162 166 178 124 137 80

89 93 123 67 95 49

72 73 54 55 43 31

8 6 11 7 5 10

11 5 7 5 2 1

52 62 36 44 35 20

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

66 61 41 344

37 39 29 222

30 22 12 122

3 1 – 16

5 2 – 10

22 18 12 96

$37,739

$44,337

$32,154

$26,246

$28,451

$36,403

Total male-headed

Median income

PERCENT DISTRIBUTION

Total male-headed families

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

29.2 36.4 18.7 8.3 7.4

23.0 33.6 22.5 10.9 9.7

35.2 39.0 15.0 5.8 5.1

45.3 40.2 8.7 3.1 2.6

43.0 35.7 15.0 3.5 3.5

29.6 39.2 17.6 7.2 6.5

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 109

Table 1.74

Male-Headed Families by Household Income and Presence of Children, 2002: Asian Male-Headed Families

(number and percent distribution of Asian male-headed families by household income and presence of related children under age 18 at home, 2002; male-headed families in thousands as of 2003) total

no children

with one or more children

Asian male-headed families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

241 11 3 12 13

156 1 3 9 5

86 9 – 3 8

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

14 12 12 13 10 8 16

9 3 4 9 8 6 15

7 9 8 3 2 2 1

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

15 10 16 9 4 10

8 8 14 4 4 6

6 3 2 4 – 5

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

6 3 7 34

3 1 7 25

3 2 – 9

$52,410

$57,598

$34,900

Median income

PERCENT DISTRIBUTION

Asian male-headed families

100.0%

100.0%

100.0%

Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

22.0 22.8 27.4 12.4 14.1

17.3 19.2 31.4 13.5 16.0

31.4 27.9 18.6 11.6 10.5

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

110

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.75

Male-Headed Families by Household Income and Presence of Children, 2002: Black Male-Headed Families

(number and percent distribution of black male-headed families by household income and presence and age of related children under age 18 at home, 2002; male-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

793 45 54 65 63 76

373 11 28 24 15 33

420 33 27 41 48 44

91 15 5 7 14 18

58 1 3 10 10 4

272 18 19 23 24 22

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

66 75 64 37 41 35

27 44 27 21 13 16

38 31 37 15 27 19

3 4 9 1 3 2

6 3 1 1 3 7

30 25 27 13 21 10

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

31 20 14 10 17 13

16 16 7 3 14 11

14 4 7 7 3 2

3 1 – – – 2

2 1 4 – – –

9 1 3 7 3 –

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

13 6 11 37

10 3 10 23

3 3 1 14

1 – – 3

– – – –

2 3 1 12

$31,438

$35,727

$26,412

$20,722

–

$30,157

Black male-headed

Median income

PERCENT DISTRIBUTION

Black male-headed families Under $25,000

100.0% 38.2

100.0% 29.8

100.0% 46.0

100.0% 64.8

100.0% 48.3

100.0% 39.0

$25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

35.7 13.9 7.6 4.7

35.4 15.5 12.9 6.2

35.2 12.1 2.9 3.3

22.0 6.6 3.3 3.3

24.1 24.1 – –

42.6 11.0 3.3 4.4

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 111

Table 1.76

Male-Headed Families by Household Income and Presence of Children, 2002: Hispanic Male-Headed Families

(number and percent distribution of Hispanic male-headed families by household income and presence and age of related children under age 18 at home, 2002; male-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

872 39 34 59

372 8 14 15

500 31 20 45

146 5 9 16

117 10 6 11

237 16 5 16

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

95 95 77 70 66 56

22 40 21 35 31 30

74 54 54 36 35 26

24 17 23 14 11 8

18 11 14 6 9 7

33 26 17 16 13 12

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

50 37 24 32 16 21

26 21 13 11 8 11

24 15 11 21 8 10

3 3 – 1 2 3

2 3 4 1 4 1

19 9 7 19 3 6

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

13 14 6 8 3 58

8 9 2 5 2 40

3 5 4 3 1 18

– 4 – – – 4

1 1 2 2 – 2

2 – 2 1 1 12

$31,859

$40,024

$26,756

$25,265

$25,448

$31,180

Hispanic male-headed families Under $5,000 $5,000 to $9,999 $10,000 to $14,999

Median income

PERCENT DISTRIBUTION

Hispanic male-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 36.9 36.6 14.9 5.0 6.7

100.0% 26.6 38.4 17.2 7.0 10.8

100.0% 44.8 35.0 13.0 3.2 3.6

100.0% 48.6 40.4 6.2 2.7 2.7

100.0% 47.9 32.5 11.1 5.1 1.7

100.0% 40.5 32.5 18.6 2.5 5.1

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

112

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.77

Male-Headed Families by Household Income and Presence of Children, 2002: Non-Hispanic White Male-Headed Families

(number and percent distribution of non-Hispanic white male-headed families by household income and presence and age of related children under age 18 at home, 2002; male-headed families in thousands as of 2003) one or more children under age 18 total

no children

total

all under 6

some < 6, some 6 to 17

all 6 to 17

2,679 68 66 127 162 234

1,364 23 28 62 64 106

1,315 45 38 65 98 129

328 15 14 27 34 46

99 2 2 2 11 11

888 27 21 38 53 72

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

203 229 173 239 168 149

77 99 67 122 93 89

125 130 107 117 74 60

44 36 20 34 11 13

6 15 6 9 7 5

75 80 80 74 57 43

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

89 103 131 82 97 42

51 60 93 48 62 23

39 43 39 35 34 19

4 3 8 3 5 2

5 2 1 2 1 –

30 39 30 30 28 16

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

40 45 20 212

21 31 10 136

19 13 10 77

1 1 – 9

3 – – 8

14 12 10 59

$41,197

$46,797

$35,953

$27,338

$34,734

$39,888

Non-Hispanic white male-headed families Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

Median income

PERCENT DISTRIBUTION

Non-Hispanic white male-headed families Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

24.5 37.8 20.7 9.1 7.9

20.7 33.6 25.0 10.8 10.0

28.5 42.1 16.4 7.2 5.9

41.5 44.2 9.5 2.7 2.7

28.3 43.4 15.2 4.0 8.1

23.8 41.2 19.4 9.0 6.6

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/faminc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 113

Household Incomes Rise with Education Householders with at least a bachelor’s degree had a median income of $73,600 in 2002. Household income rises directly with education—the more educated the householder, the higher the income. Householders with at least some college experience have above-average incomes, while those who went no further than high school have below-average incomes. Household income peaks among those with a professional degree, a category that includes physicians and lawyers. The 51 percent majority of this group has an income of $100,000 or more. Median household income is lowest among the least educated. Householders with no more than a high school diploma had a median income of $35,646, 19 percent below the all-household average. The pattern is the same regardless of race or Hispanic origin, with better educated householders commanding higher incomes. Relatively fewer blacks or Hispanics are highly educated, however, a factor that accounts in part for their lower household incomes. Among Asian householders aged 25 or older, the 55 percent majority has at least a bachelor’s degree. Among non-Hispanic whites, the figure is a smaller 31 percent. Among black householders, only 18 percent have at least a bachelor’s degree. For Hispanics, the figure is just 12 percent. ■ The financial rewards of a college degree are well worth the cost, but many blacks and Hispanics cannot afford the cost regardless of its benefits.

Education boosts income (median household income by educational attainment of householders aged 25 or older, 2002)

$98,632

$100,000

$76,470

$80,000

$69,156

$45,333

$51,058

$35,646

$40,000

$18,380

$23,267

$0

less than 9th grade

114

9th–12th grade, no diploma

high school graduate

AMERICAN INCOMES: Demographics of Who Has Money

some college, no degree

associate’s degree

bachelor’s degree

master’s degree

doctoral degree

professional degree

HOUSEHOLD INCOME, 2002

Table 1.78

Households by Income and Educational Attainment of Householder, 2002: Total Households

(number and percent distribution of total households headed by people aged 25 or older by household income and educational attainment of householder, 2002; households in thousands as of 2003)

Total households

bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

104,667

6,715

9,282

31,857

18,822

8,508

29,484

19,013

7,238

1,746

1,486

Under $5,000

3,010

353

520

990

530

162

456

322

99

17

18

$5,000 to $9,999

6,023

1,274

1,249

1,986

758

255

501

353

94

26

28

$10,000 to $14,999

7,196

1,136

1,214

2,753

1,005

406

681

477

145

31

27

$15,000 to $19,999

6,626

833

1,030

2,632

1,030

398

705

486

158

36

23

$20,000 to $24,999

6,759

614

893

2,598

1,272

483

899

655

171

39

33

$25,000 to $29,999

6,398

500

789

2,436

1,243

504

927

661

186

53

27

$30,000 to $34,999

6,178

420

618

2,261

1,253

496

1,130

826

251

35

19

$35,000 to $39,999

5,639

346

573

1,813

1,131

477

1,301

887

315

58

41

$40,000 to $44,999

5,319

241

442

1,809

1,118

474

1,234

862

281

58

33

$45,000 to $49,999

4,711

183

325

1,554

983

480

1,185

810

298

40

37

$50,000 to $54,999

4,751

151

271

1,580

982

443

1,324

899

323

49

53

$55,000 to $59,999

3,998

111

234

1,265

876

382

1,131

794

269

35

34

$60,000 to $64,999

4,087

95

203

1,242

799

474

1,273

850

333

45

46

$65,000 to $69,999

3,290

99

157

957

692

310

1,075

720

260

51

43

$70,000 to $74,999

3,327

37

119

961

635

367

1,208

799

315

38

56

$75,000 to $79,999

3,138

68

98

807

589

356

1,218

774

338

48

58

$80,000 to $84,999

2,760

54

92

764

510

240

1,100

724

256

57

63

$85,000 to $89,999

2,146

28

64

505

386

256

908

602

246

36

23

$90,000 to $94,999

2,083

14

60

479

417

216

896

572

240

48

36

$95,000 to $99,999

1,765

24

56

355

294

155

880

555

215

53

59

15,463

134

277

2,111

2,317

1,172

9,452

5,384

2,442

896

730

$100,000 or more Median income

$44,039 $18,380 $23,267 $35,646 $45,333 $51,058 $73,600 $69,156 $76,470 $100,000 $98,632

PERCENT DISTRIBUTION

Total households

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $25,000

28.3

62.7

52.9

34.4

24.4

20.0

11.0

12.1

9.2

8.5

8.7

$25,000 to $49,999

27.0

25.2

29.6

31.0

30.4

28.6

19.6

21.3

18.4

14.0

10.6

$50,000 to $74,999

18.6

7.3

10.6

18.8

21.2

23.2

20.4

21.4

20.7

12.5

15.6

$75,000 to $99,999

11.4

2.8

4.0

9.1

11.7

14.4

17.0

17.0

17.9

13.9

16.1

$100,000 or more

14.8

2.0

3.0

6.6

12.3

13.8

32.1

28.3

33.7

51.3

49.1

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 115

Table 1.79

Households by Income and Educational Attainment of Householder, 2002: Asian Households

(number and percent distribution of Asian households headed by people aged 25 or older by household income and educational attainment of householder, 2002; households in thousands as of 2003)

Asian households

bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

3,767

217

173

605

438

244

2,090

1,246

547

135

161

Under $5,000

139

15

16

19

29

3

59

36

18

1

4

$5,000 to $9,999

127

35

11

34

9

6

32

21

6

–

5

$10,000 to $14,999

141

23

7

33

17

11

51

27

17

4

4

$15,000 to $19,999

195

21

26

47

19

7

76

52

15

9

–

$20,000 to $24,999

183

23

17

31

33

11

70

46

18

2

3

$25,000 to $29,999

179

17

16

50

20

11

66

44

12

8

1

$30,000 to $34,999

202

18

13

53

24

13

81

59

13

4

5

$35,000 to $39,999

186

14

11

38

28

12

84

44

26

7

7

$40,000 to $44,999

156

3

13

32

23

12

75

53

16

2

4

$45,000 to $49,999

165

2

10

39

22

14

78

60

15

4

–

$50,000 to $54,999

206

10

9

31

32

17

106

71

22

6

7

$55,000 to $59,999

125

7

3

25

15

17

59

37

19

–

2

$60,000 to $64,999

164

8

2

26

29

15

85

45

34

3

3

$65,000 to $69,999

98

8

3

11

15

7

54

34

17

1

2

$70,000 to $74,999

142

–

2

16

8

13

103

71

24

5

2

$75,000 to $79,999

109

3

1

18

12

7

66

31

24

4

6

$80,000 to $84,999

135

–

2

23

6

–

102

69

23

3

7

$85,000 to $89,999

84

5

2

7

3

12

56

39

11

2

4

$90,000 to $94,999

82

–

1

7

15

3

56

32

19

1

5

76

–

2

7

9

4

56

31

16

2

5

874

6

11

60

69

51

677

344

182

67

84

$95,000 to $99,999 $100,000 or more Median income

$55,174 $22,943 $29,166 $39,638 $48,368 $56,310 $73,272 $68,736 $75,396 $96,703 $100,000

PERCENT DISTRIBUTION

Asian households

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $25,000

20.8

53.9

44.5

27.1

24.4

15.6

13.8

14.6

13.5

11.9

9.9

$25,000 to $49,999

23.6

24.9

36.4

35.0

26.7

25.4

18.4

20.9

15.0

18.5

10.6

$50,000 to $74,999

19.5

15.2

11.0

18.0

22.6

28.3

19.5

20.7

21.2

11.1

9.9

$75,000 to $99,999

12.9

3.7

4.6

10.2

10.3

10.7

16.1

16.2

17.0

8.9

16.8

$100,000 or more

23.2

2.8

6.4

9.9

15.8

20.9

32.4

27.6

33.3

49.6

52.2

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

116

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.80

Households by Income and Educational Attainment of Householder, 2002: Black Households

(number and percent distribution of black households headed by people aged 25 or older by household income and educational attainment of householder, 2002; households in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

12,585

874

1,784

4,108

2,611

971

2,237

1,539

534

99

778

80

182

299

115

48

53

39

15

–

–

$5,000 to $9,999

1,324

244

358

438

174

47

64

57

5

1

1

$10,000 to $14,999

1,182

149

275

437

186

65

68

47

20

–

2

$15,000 to $19,999

1,049

106

214

418

183

54

73

49

21

3

–

$20,000 to $24,999

948

61

148

374

212

74

79

59

13

6

1

$25,000 to $29,999

962

61

138

334

253

70

106

91

13

–

2

$30,000 to $34,999

864

41

97

315

196

85

130

90

37

2

1

$35,000 to $39,999

784

36

101

247

184

71

144

92

41

4

6

$40,000 to $44,999

569

13

59

188

145

65

99

68

29

2

–

$45,000 to $49,999

531

16

42

157

144

58

113

75

29

5

4

$50,000 to $54,999

440

11

24

146

107

34

119

88

20

3

8

$55,000 to $59,999

419

12

33

120

114

32

105

64

35

4

2

Black households Under $5,000

master’s professional degree degree

doctoral degree

65

$60,000 to $64,999

358

5

21

114

78

49

92

72

18

2

–

$65,000 to $69,999

318

5

18

92

70

40

93

67

23

2

2

$70,000 to $74,999

297

1

22

80

59

34

100

63

27

7

3

$75,000 to $79,999

254

8

5

64

77

18

82

60

17

1

4

$80,000 to $84,999

226

6

12

60

44

18

85

57

16

10

1

$85,000 to $89,999

148

1

9

35

31

13

60

47

9

2

2

$90,000 to $94,999

141

–

7

23

30

18

64

43

18

4

–

$95,000 to $99,999

122

1

6

31

19

16

49

28

18

3

–

$100,000 or more

872

16

12

134

190

60

461

287

110

38

26

$30,259 $13,365 $16,645 $26,092 $34,636 $37,448 $58,078 $56,236 $57,390 $84,372

–

Median income

PERCENT DISTRIBUTION

Black households

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $25,000

42.0

73.2

66.0

47.9

33.3

29.7

15.1

16.3

13.9

10.1

6.2

$25,000 to $49,999

29.5

19.1

24.5

30.2

35.3

35.9

26.5

27.0

27.9

13.1

20.0

$50,000 to $74,999

14.6

3.9

6.6

13.4

16.4

19.5

22.8

23.0

23.0

18.2

23.1

$75,000 to $99,999

7.1

1.8

2.2

5.2

7.7

8.5

15.2

15.3

14.6

20.2

10.8

$100,000 or more

6.9

1.8

0.7

3.3

7.3

6.2

20.6

18.6

20.6

38.4

40.0

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 117

Table 1.81

Households by Income and Educational Attainment of Householder, 2002: Hispanic Households

(number and percent distribution of Hispanic households headed by people aged 25 or older by household income and educational attainment of householder, 2002; households in thousands as of 2003)

Hispanic households

bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

10,267

2,580

1,725

2,693

1,446

567

1,257

892

237

73

55

Under $5,000

403

140

94

83

42

19

27

20

5

2

1

$5,000 to $9,999

695

303

150

139

71

12

22

15

4

3

–

$10,000 to $14,999

804

314

159

199

70

21

39

33

4

1

1

$15,000 to $19,999

856

315

173

237

73

25

32

21

8

2

–

$20,000 to $24,999

887

290

176

226

105

38

51

38

6

4

3

$25,000 to $29,999

821

215

189

222

104

38

53

50

1

1

2

$30,000 to $34,999

735

196

132

213

97

37

59

43

12

4

–

$35,000 to $39,999

693

160

123

188

96

44

83

60

20

3

1

$40,000 to $44,999

553

138

88

150

92

23

61

52

5

3

1

$45,000 to $49,999

457

86

76

146

83

26

40

32

5

1

1

$50,000 to $54,999

497

83

69

144

80

35

84

63

15

3

4

$55,000 to $59,999

377

55

54

116

71

31

49

36

8

1

4

$60,000 to $64,999

385

51

40

122

81

29

63

48

12

3

1

$65,000 to $69,999

281

48

35

79

58

16

47

36

7

1

2

$70,000 to $74,999

255

20

23

91

40

28

53

36

13

–

4

$75,000 to $79,999

214

32

32

49

23

18

59

43

12

2

1

$80,000 to $84,999

193

32

22

45

38

15

42

31

9

1

1

$85,000 to $89,999

163

17

17

46

19

12

52

42

9

–

1

$90,000 to $94,999

126

9

10

32

26

17

31

25

4

2

–

$95,000 to $99,999

104

16

8

28

14

10

28

22

7

–

–

$100,000 or more

767

57

54

139

162

74

281

148

71

33

28

$34,379 $23,452 $27,854 $35,650 $43,261 $50,129 $61,416 $57,555 $72,491

–

–

Median income

PERCENT DISTRIBUTION

Hispanic households

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $25,000

35.5

52.8

43.6

32.8

25.0

20.3

13.6

14.2

11.4

16.4

$25,000 to $49,999

31.7

30.8

35.2

34.1

32.6

29.6

23.5

26.6

18.1

16.4

9.1 9.1

$50,000 to $74,999

17.5

10.0

12.8

20.5

22.8

24.5

23.5

24.6

23.2

11.0

27.3

$75,000 to $99,999

7.8

4.1

5.2

7.4

8.3

12.7

16.9

18.3

17.3

6.8

5.5

$100,000 or more

7.5

2.2

3.1

5.2

11.2

13.1

22.4

16.6

30.0

45.2

50.9

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

118 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.82

Households by Income and Educational Attainment of Householder, 2002: Non-Hispanic White Households

(number and percent distribution of non-Hispanic white households headed by people aged 25 or older by household income and educational attainment of householder, 2002; households in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Non-Hispanic white households

77,187

3,025

5,525

24,153

14,087

6,633

23,764

15,243

5,889

1,435

1,197

Under $5,000

1,662

125

225

575

331

97

310

222

62

13

13

$5,000 to $9,999

3,807

679

719

1,353

490

186

379

258

76

22

23

$10,000 to $14,999

4,989

631

764

2,049

723

305

516

367

103

26

19

$15,000 to $19,999

4,471

382

613

1,913

739

306

520

360

115

21

23

$20,000 to $24,999

4,686

245

539

1,953

897

355

697

512

133

27

25

$25,000 to $29,999

4,402

210

445

1,808

850

384

705

480

161

44

21

$30,000 to $34,999

4,297

171

365

1,658

910

343

849

624

189

24

13

$35,000 to $39,999

3,920

137

332

1,318

808

337

989

691

227

44

28

$40,000 to $44,999

3,965

86

275

1,407

836

370

990

682

232

49

27

$45,000 to $49,999

3,538

79

195

1,208

726

381

949

639

247

30

32

$50,000 to $54,999

3,575

47

159

1,246

755

355

1,012

677

266

34

34

$55,000 to $59,999

3,060

41

145

994

670

300

913

653

204

30

26

$60,000 to $64,999

3,161

31

140

974

604

381

1,032

684

270

37

42

$65,000 to $69,999

2,566

37

102

764

546

241

876

581

212

48

37

$70,000 to $74,999

2,599

13

72

758

522

288

946

625

251

26

43

$75,000 to $79,999

2,540

26

60

668

468

309

1,008

638

285

40

46

$80,000 to $84,999

2,197

15

58

636

417

205

867

564

206

42

53

$85,000 to $89,999

1,738

6

37

410

330

211

743

481

213

32

16

$90,000 to $94,999

1,720

5

42

414

344

176

740

473

198

39

31

$95,000 to $99,999

1,452

6

40

290

248

125

742

471

169

47

53

12,839

54

198

1,758

1,870

979

7,980

4,558

2,072

759

591

$100,000 or more Median income

$48,198 $15,870 $23,980 $37,525 $48,055 $53,122 $75,788 $71,303 $78,162 $100,000 $99,188

PERCENT DISTRIBUTION

Non-Hispanic white households

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $25,000

25.4

68.2

51.8

32.5

22.6

18.8

10.2

11.3

8.3

7.6

8.6

$25,000 to $49,999

26.1

22.6

29.2

30.6

29.3

27.4

18.9

20.4

17.9

13.3

10.1

$50,000 to $74,999

19.4

5.6

11.2

19.6

22.0

23.6

20.1

21.1

20.4

12.2

15.2

$75,000 to $99,999

12.5

1.9

4.3

10.0

12.8

15.5

17.3

17.2

18.2

13.9

16.6

$100,000 or more

16.6

1.8

3.6

7.3

13.3

14.8

33.6

29.9

35.2

52.9

49.4

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 119

Household Incomes Are Highest in New England Incomes are lowest in the East South Central states. Among the four regions, only the South—which is home to 36 percent of the nation’s households—has a median household income below the national average of $42,409. Median household income is slightly above average in the Midwest and significantly above average in the Northeast and West. Median household income is highest in the New England states, at $48,608 in 2002— 15 percent above the national median. The Pacific division ranks second, with a median household income of $46,507. Incomes are almost as high in the West North Central states of the Midwest (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota), at $45,136. The lowest household incomes are found in the East South Central States of Alabama, Kentucky, Mississippi, and Tennessee. Median household income in the division was just $36,155 in 2002, 15 percent below the national figure. The West South Central division (Arkansas, Louisiana, Oklahoma, and Texas) does not fare much better, with a median household income of $38,129. In some of these states, the cost of living is relatively low, narrowing the income gap with other parts of the country. ■ As high-tech communications make geography less important, the economic disparities among regions and divisions could shrink.

Incomes are lowest in the South (median household income by region, 2002)

$45,862

$45,143

$43,622 $39,522

$40,000

$20,000

$0

Northeast

120

AMERICAN INCOMES: Demographics of Who Has Money

Midwest

South

West

HOUSEHOLD INCOME, 2002

Table 1.83

Households by Income and Region, 2002

(number and percent distribution of households by household income and region 2002; households in thousands as of 2003) total

Northeast

Midwest

South

West

Total households Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999

111,278 3,533 6,557 7,836 7,227 7,419

21,229 663 1,245 1,495 1,352 1,249

25,630 751 1,405 1,804 1,519 1,757

40,107 1,433 2,711 2,943 2,822 2,883

24,313 685 1,196 1,593 1,534 1,532

$25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999

6,943 6,729 6,066 5,713 5,030 5,019

1,258 1,133 1,052 985 955 884

1,548 1,566 1,407 1,352 1,216 1,255

2,660 2,526 2,259 2,124 1,787 1,789

1,479 1,504 1,348 1,250 1,072 1,091

$55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999

4,207 4,233 3,400 3,456 3,239 2,837

775 782 642 655 659 525

1,105 1,010 846 833 721 730

1,471 1,471 1,188 1,177 1,135 949

856 970 724 793 724 633

$85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

2,202 2,141 1,811 15,676

466 448 397 3,609

536 514 416 3,337

690 683 549 4,858

510 497 449 3,872

$42,409

$45,862

$43,622

$39,522

$45,143

Median income

PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999

100.0% 29.3 27.4

100.0% 28.3 25.4

100.0% 28.2 27.7

100.0% 31.9 28.3

100.0% 26.9 27.4

$50,000 to $74,999 $75,000 to $99,999 $100,000 or more

18.3 11.0 14.1

17.6 11.8 17.0

19.7 11.4 13.0

17.7 10.0 12.1

18.2 11.6 15.9

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 121

Table 1.84

Households by Income, Region, and Division, 2002: Northeast

(number and percent distribution of total households and households in the Northeast region and divisions by household income, 2002; households in thousands as of 2003) Northeast total households

total

New England

Middle Atlantic

111,278 3,533 6,557

21,229 663 1,245

5,681 132 327

15,548 531 918

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

7,836 7,227 7,419 6,943 6,729 6,066

1,495 1,352 1,249 1,258 1,133 1,052

421 328 316 287 295 263

1,074 1,024 932 970 836 789

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

5,713 5,030 5,019 4,207 4,233 3,400

985 955 884 775 782 642

261 275 260 199 201 186

725 680 625 576 583 455

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

3,456 3,239 2,837 2,202 2,141 1,811

655 659 525 466 448 397

189 181 143 134 129 117

465 478 382 332 319 281

15,676

3,609

1,036

2,573

$42,409

$45,862

$48,608

$44,771

Total households Under $5,000 $5,000 to $9,999

$100,000 or more Median income PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 29.3 27.4 18.3 11.0

100.0% 28.3 25.4 17.6 11.8

100.0% 26.8 24.3 18.2 12.4

100.0% 28.8 25.7 17.4 11.5

14.1

17.0

18.2

16.5

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

122

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.85

Households by Income, Region, and Division, 2002: Midwest

(number and percent distribution of total households and households in the Midwest region and divisions by household income, 2002; households in thousands as of 2003) Midwest total households

total

East North Central

West North Central

111,278 3,533 6,557

25,630 751 1,405

17,908 571 1,014

7,721 180 391

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

7,836 7,227 7,419 6,943 6,729 6,066

1,804 1,519 1,757 1,548 1,566 1,407

1,273 1,057 1,256 1,061 1,110 987

532 463 500 486 457 420

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

5,713 5,030 5,019 4,207 4,233 3,400

1,352 1,216 1,255 1,105 1,010 846

931 860 889 738 697 593

421 355 365 367 313 253

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

3,456 3,239 2,837 2,202 2,141 1,811

833 721 730 536 514 416

585 504 490 350 342 282

248 218 241 186 172 135

15,676

3,337

2,319

1,018

$42,409

$43,622

$42,785

$45,136

Total households Under $5,000 $5,000 to $9,999

$100,000 or more Median income PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 29.3 27.4 18.3 11.0

100.0% 28.2 27.7 19.7 11.4

100.0% 28.9 27.6 19.6 11.0

100.0% 26.8 27.7 20.0 12.3

14.1

13.0

12.9

13.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 123

Table 1.86

Households by Income, Region, and Division, 2002: South

(number and percent distribution of total households and households in the South region and divisions by household income, 2002; households in thousands as of 2003) South total households

total

South Atlantic

East South Central

West South Central

111,278 3,533 6,557

40,107 1,433 2,711

21,176 706 1,312

6,849 257 583

12,082 472 816

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

7,836 7,227 7,419 6,943 6,729 6,066

2,943 2,822 2,883 2,660 2,526 2,259

1,457 1,394 1,510 1,387 1,352 1,091

584 543 474 485 395 411

901 886 899 786 780 757

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

5,713 5,030 5,019 4,207 4,233 3,400

2,124 1,787 1,789 1,471 1,471 1,188

1,121 1,021 944 738 760 673

358 285 293 258 244 216

645 482 552 475 466 300

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

3,456 3,239 2,837 2,202 2,141 1,811

1,177 1,135 949 690 683 549

685 605 563 379 366 285

182 181 130 114 89 95

310 349 256 195 226 170

15,676

4,858

2,827

671

1,360

$42,409

$39,522

$41,467

$36,155

$38,129

Total households Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 29.3 27.4 18.3 11.0

100.0% 31.9 28.3 17.7 10.0

100.0% 30.1 28.2 17.9 10.4

100.0% 35.6 28.2 17.4 8.9

100.0% 32.9 28.6 17.4 9.9

14.1

12.1

13.4

9.8

11.3

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

124

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.87

Households by Income, Region, and Division, 2002: West

(number and percent distribution of total households and households in the West region and divisions by household income, 2002; households in thousands as of 2003) West total households

total

Mountain

Pacific

111,278 3,533 6,557

24,313 685 1,196

7,161 215 341

17,153 470 855

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

7,836 7,227 7,419 6,943 6,729 6,066

1,593 1,534 1,532 1,479 1,504 1,348

462 477 493 513 468 442

1,131 1,058 1,038 966 1,036 907

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

5,713 5,030 5,019 4,207 4,233 3,400

1,250 1,072 1,091 856 970 724

398 310 399 262 290 219

853 762 692 594 680 506

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

3,456 3,239 2,837 2,202 2,141 1,811

793 724 633 510 497 449

226 199 175 156 136 120

567 524 458 354 361 328

15,676

3,872

861

3,011

$42,409

$45,143

$41,770

$46,507

Total households Under $5,000 $5,000 to $9,999

$100,000 or more Median income PERCENT DISTRIBUTION

Total households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 29.3 27.4 18.3 11.0

100.0% 26.9 27.4 18.2 11.6

100.0% 27.8 29.8 19.5 11.0

100.0% 26.5 26.4 17.7 11.8

14.1

15.9

12.0

17.6

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 125

Among Blacks, Household Incomes Are Highest in the West Hispanic household income peaks in the Midwest. In every region, the incomes of Asian and non-Hispanic white households surpass those of blacks and Hispanics. The median income of Asian households surpasses that of non-Hispanic whites in every region. Asian household income is highest in the Northeast, at $58,003 in 2002. Non-Hispanic white median household income is also highest in the Northeast, at $50,106. For Asians, household incomes are lowest in the Midwest, at $47,184. Non-Hispanic white household incomes are lowest in the South, at $44,309. For black households, median income is higher in the West than in the other regions, at $34,497 in 2002, compared with a median household income of more than $50,000 for Asian households in the region and nearly $50,000 for non-Hispanic white households there. In the South, which is home to the 54 percent majority of black households, the median income of blacks is only $28,754 versus more than $50,000 for Asian householders in the region and more than $40,000 for non-Hispanic whites. One reason for the lower incomes of blacks is their household composition. Black households are much less likely than average to be headed by married couples, the most affluent household type. Hispanic household incomes are slightly higher than black incomes in every region and range from a low of $30,481 in the Northeast to a high of $35,979 in the Midwest. Hispanic incomes are relatively low because many are poorly educated immigrants with little earning power. ■ Income disparities by race and Hispanic origin will continue as long as differences in household composition persist and until immigrants make up a much smaller share of the Hispanic population.

In the South, blacks have the lowest incomes (median income of households in the South by race and Hispanic origin of householder, 2002)

$51,163 $44,309 $40,000

$28,754

$31,532

$20,000

$0

Asian

126

AMERICAN INCOMES: Demographics of Who Has Money

black

Hispanic

non-Hispanic white

HOUSEHOLD INCOME, 2002

Table 1.88

Households by Income, Region, Race, and Hispanic Origin, 2002: Northeast

(number and percent distribution of households in the Northeast by household income, race, and Hispanic origin, 2002; households in thousands as of 2003) total

Asian

black

Hispanic

non-Hispanic white

21,229 663 1,245

792 24 23

2,594 195 298

1,741 123 171

16,259 347 781

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

1,495 1,352 1,249 1,258 1,133 1,052

35 41 35 32 45 47

226 208 199 198 165 148

148 135 136 145 95 107

1,104 976 892 897 826 760

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

985 955 884 775 782 642

30 28 39 26 33 22

97 109 91 92 92 53

69 82 75 57 48 47

785 744 685 607 616 523

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

655 659 525 466 448 397

18 23 27 24 20 13

63 49 36 29 29 19

34 31 27 31 20 20

536 556 440 391 380 346

3,609

206

198

139

3,066

$45,862

$58,003

$29,120

$30,481

$50,106

Northeast households Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

Northeast households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 28.3 25.4 17.6 11.8

100.0% 19.9 23.0 17.4 13.5

100.0% 43.4 27.6 15.1 6.2

100.0% 41.0 28.6 15.0 7.4

100.0% 25.2 24.7 18.2 13.0

17.0

26.0

7.6

8.0

18.9

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 127

Table 1.89

Households by Income, Region, Race, and Hispanic Origin, 2002: Midwest

(number and percent distribution of households in the Midwest by household income, race, and Hispanic origin, 2002; households in thousands as of 2003) total

Asian

black

Hispanic

non-Hispanic white

25,630 751 1,405

479 31 22

2,518 198 277

955 30 44

21,494 481 1,045

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

1,804 1,519 1,757 1,548 1,566 1,407

24 23 33 16 18 19

283 217 185 191 169 146

66 91 74 88 70 69

1,417 1,180 1,446 1,248 1,293 1,163

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

1,352 1,216 1,255 1,105 1,010 846

30 30 33 9 16 10

114 95 81 99 82 43

61 40 45 35 41 24

1,131 1,043 1,092 956 866 762

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

833 721 730 536 514 416

13 16 9 9 10 4

49 40 46 21 25 30

29 22 33 19 11 12

736 638 637 482 467 369

3,337

102

129

51

3,040

$43,622

$47,184

$27,547

$35,979

$46,513

Midwest households Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

Midwest households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 28.2 27.7 19.7 11.4

100.0% 27.8 23.6 16.9 10.0

100.0% 46.1 28.4 14.1 6.4

100.0% 31.9 34.3 18.2 10.2

100.0% 25.9 27.3 20.5 12.1

13.0

21.3

5.1

5.3

14.1

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

128 AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Table 1.90

Households by Income, Region, Race, and Hispanic Origin, 2002: South

(number and percent distribution of households in the South by household income, race, and Hispanic origin, 2002; households in thousands as of 2003) total

Asian

black

Hispanic

non-Hispanic white

South households Under $5,000 $5,000 to $9,999

40,107 1,433 2,711

857 38 28

7,394 498 783

4,072 184 299

27,405 692 1,560

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

2,943 2,822 2,883 2,660 2,526 2,259

34 36 56 42 56 41

716 661 598 553 527 478

353 365 397 316 304 253

1,813 1,734 1,805 1,721 1,598 1,462

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

2,124 1,787 1,789 1,471 1,471 1,188

52 30 54 40 33 17

339 312 263 206 180 197

225 180 182 140 144 96

1,486 1,257 1,268 1,078 1,108 865

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

1,177 1,135 949 690 683 549

39 23 29 13 16 9

168 128 116 87 81 64

75 80 62 53 51 27

881 901 740 536 532 445

$100,000 or more

4,858

168

441

285

3,922

$39,522

$51,163

$28,754

$31,532

$44,309

Median income

PERCENT DISTRIBUTION

South households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 31.9 28.3 17.7 10.0

100.0% 22.4 25.8 21.4 10.5

100.0% 44.0 29.9 13.7 6.4

100.0% 39.2 31.4 15.6 6.7

100.0% 27.7 27.5 19.0 11.5

12.1

19.6

6.0

7.0

14.3

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 129

Table 1.91

Households by Income, Region, Race, and Hispanic Origin, 2002: West

(number and percent distribution of households in the West by household income, race, and Hispanic origin, 2002; households in thousands as of 2003) total

Asian

black

Hispanic

non-Hispanic white

24,313 685 1,196

1,952 83 82

1,272 65 118

4,571 148 249

16,009 366 705

$10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999

1,593 1,534 1,532 1,479 1,504 1,348

70 115 90 102 108 99

91 87 96 88 100 77

351 369 388 404 358 317

1,023 923 930 858 909 817

$40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999

1,250 1,072 1,091 856 970 724

65 93 96 57 89 49

57 68 36 48 15 38

259 194 235 175 168 126

839 696 708 564 685 501

$70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999

793 724 633 510 497 449

77 52 76 39 42 54

25 45 29 19 13 18

132 99 81 69 56 52

542 511 441 367 376 319

3,872

412

137

339

2,930

$45,143

$52,528

$34,497

$35,246

$49,512

West households Under $5,000 $5,000 to $9,999

$100,000 or more Median income

PERCENT DISTRIBUTION

West households Under $25,000 $25,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 or more

100.0% 26.9 27.4 18.2 11.6

100.0% 22.5 23.9 18.9 13.5

100.0% 35.9 30.7 12.7 9.7

100.0% 32.9 33.5 18.3 7.8

100.0% 24.7 25.7 18.7 12.6

15.9

21.1

10.8

7.4

18.3

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

130

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Household Incomes Are Highest in Maryland Incomes are lowest in West Virginia. When the fifty states are ranked by median household income, Maryland comes out on top with a median income of $55,912 in the 2000–02 period. West Virginia is at the bottom of the heap, with a median income of just $30,072—more than $25,000 less than in Maryland. The difference between the median household incomes of Maryland and West Virginia explain the economic fortunes and misfortunes of Americans over the past few years. States with diverse economies—with substantial employment in financial services, education, government, and health care—are faring better than those dependent on agriculture, mining, and manufacturing. Beside West Virginia, other states at the lower end of the household income ranking include Arkansas, Louisiana, Mississippi, and Montana. The states at the upper end of the continuum are found in every region, from Minnesota in the Midwest to Alaska in the West, Maryland in the South, and New Hampshire in the Northeast. California, the nation’s most populous state, ranks thirteenth, with a median household income of $48,113 in 2000–02. ■ The recession of 2001 hurt the states dependent on manufacturing employment more than those dependent on service-sector jobs.

High-income states can be found in every region (median household income in the eight states with median household income of $50,000 or more, 2000–02)

$55,912

$55,412

$54,931

$53,549

$53,325

$53,266

New Hampshire

Connecticut

New Jersey

$50,878

$50,587

$50,000

$25,000

$0

Maryland

Alaska

Minnesota

Delaware

Massachusetts

AMERICAN INCOMES: Demographics of Who Has Money 131

Table 1.92

Median Household Income by State, 2000–02

(median household income by state, three-year average, 2000–02, and rank by state) median household income

rank

$36,771

41

Alaska Arizona Arkansas California Colorado Connecticut

55,412 41,554 32,423 48,113 49,617 53,325

2 31 49 13 11 5

Delaware Florida Georgia Hawaii Idaho Illinois

50,878 38,533 43,316 49,775 38,613 45,906

7 36 24 10 35 16

Indiana Iowa Kansas Kentucky Louisiana Maine

41,581 41,827 42,523 37,893 33,312 37,654

30 29 26 39 47 40

Maryland Massachusetts Michigan Minnesota Mississippi Missouri

55,912 50,587 45,335 54,931 32,447 43,955

1 8 17 3 48 20

Alabama

median household income

rank

Montana Nebraska Nevada New Hampshire

$33,900 43,566 46,289 53,549

46 22 15 4

New Jersey New Mexico New York North Carolina North Dakota Ohio

53,266 35,251 42,432 38,432 36,717 43,332

6 45 27 38 42 23

Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota

35,500 42,704 43,577 44,311 38,460 38,755

44 25 21 18 37 34

Tennessee Texas Utah Vermont Virginia Washington

36,329 40,659 48,537 41,929 49,974 44,252

43 32 12 28 9 19

West Virginia Wisconsin Wyoming

30,072 46,351 40,499

50 14 33

Note: three-year averages are used to rank states by median income. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://www.census.gov/ hhes/www/income02.html

132

AMERICAN INCOMES: Demographics of Who Has Money

HOUSEHOLD INCOME, 2002

Suburban Households Have the Highest Incomes Households in the suburbs of metropolitan areas with populations of 1 million or more have the highest incomes. Fifty-one percent of the nation’s households are located in the suburbs of metropolitan areas—defined as the portion of a metropolitan area outside the central city. Suburban households have the highest incomes, with those outside the largest metropolitan areas having the highest incomes of all—a median of $54,205 in 2002. Twenty-one percent have incomes of $100,000 or more. Households located in the suburbs of smaller metropolitan areas had a median income of $44,216 in 2002. Nineteen percent of households are not in a metropolitan area. They have the lowest incomes, a median of just $34,654 in 2002—18 percent below the national median of $42,409. Thirty percent of householders live in the central cities of metropolitan areas. Their median income is also below the national average, at $36,863 in 2002. Those in the central cities of the largest metropolitan areas have a higher median income than those in smaller metro areas, $37,752 versus $35,514. ■ The income gap between households in suburban and nonmetropolitan areas may narrow in the years ahead as technological change allows a growing share of executives and professionals to work from remote locations.

Nonmetropolitan households have the lowest incomes (median household income by metropolitan residence, 2002)

$50,717

$40,000

$36,863

$34,654

$20,000

$0

central city of metropolitan area

suburb of metropolitan area

nonmetropolitan area

AMERICAN INCOMES: Demographics of Who Has Money 133

Table 1.93

Households by Income and Metropolitan Residence, 2002

(number and percent distribution of households by household income and metropolitan residence, 2002; households in thousands as of 2003) in metropolitan area

total

total

total

1 million+

< 1 million

total

1 million+

not in metropolitan < 1 million area

111,278

90,075

33,543

21,133

12,409

56,532

38,913

17,619

Under $5,000

3,533

2,828

1,402

895

507

1,426

1,002

423

706

$5,000 to $9,999

6,557

4,898

2,495

1,563

932

2,403

1,467

936

1,659

$10,000 to $14,999

7,836

5,956

2,702

1,661

1,042

3,255

2,052

1,202

1,879

$15,000 to $19,999

7,227

5,545

2,486

1,478

1,008

3,059

1,935

1,124

1,683

$20,000 to $24,999

7,419

5,755

2,458

1,485

975

3,296

2,058

1,238

1,665

$25,000 to $29,999

6,943

5,350

2,209

1,369

839

3,141

2,059

1,082

1,593

$30,000 to $34,999

6,729

5,224

2,180

1,365

814

3,044

1,984

1,061

1,505

$35,000 to $39,999

6,066

4,767

1,933

1,234

698

2,834

1,916

919

1,299

inside central cities

Total households

outside central cities

21,203

$40,000 to $44,999

5,713

4,483

1,683

1,053

630

2,800

1,844

956

1,230

$45,000 to $49,999

5,030

3,975

1,396

878

518

2,579

1,731

847

1,055

$50,000 to $54,999

5,019

4,037

1,533

938

596

2,505

1,616

889

982

$55,000 to $59,999

4,207

3,356

1,195

729

466

2,161

1,458

703

851

$60,000 to $64,999

4,233

3,443

1,153

736

416

2,291

1,554

737

790

$65,000 to $69,999

3,400

2,778

902

532

371

1,877

1,273

604

621

$70,000 to $74,999

3,456

2,913

877

553

324

2,036

1,460

576

544

$75,000 to $79,999

3,239

2,727

804

508

296

1,923

1,421

502

512

$80,000 to $84,999

2,837

2,410

730

463

267

1,680

1,200

481

427

$85,000 to $89,999

2,202

1,861

508

330

177

1,354

966

387

340

$90,000 to $94,999

2,141

1,859

535

350

186

1,324

905

419

283

$95,000 to $99,999

1,811

1,588

463

297

166

1,125

849

276

223

15,676

14,320

3,898

2,715

1,183

10,422

8,167

2,255

1,356

$42,409

$45,257

$36,863

$37,752

$35,514

$50,717

$54,205

$44,216

$34,654

$100,000 or more Median income

PERCENT DISTRIBUTION

Total households

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Under $25,000

29.3

27.7

34.4

33.5

36.0

23.8

21.9

27.9

35.8

$25,000 to $49,999

27.4

26.4

28.0

27.9

28.2

25.5

24.5

27.6

31.5

$50,000 to $74,999

18.3

18.3

16.9

16.5

17.5

19.2

18.9

19.9

17.9

$75,000 to $99,999

11.0

11.6

9.1

9.2

8.8

13.1

13.7

11.7

8.4

$100,000 or more

14.1

15.9

11.6

12.8

9.5

18.4

21.0

12.8

6.4

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

134

AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME TRENDS CHAPTER

2

Men’s Income Men aged 35 to 54 have seen their incomes fall for more than two decades. While the overall median income of men rose 13 percent between 1980 and 2002, to $29,238 after adjusting for inflation, men aged 35 to 44 saw their incomes fall 8.5 percent during those years. Men aged 45 to 54 saw their incomes decline by 0.8 percent. Much of the loss occurred between 2000 and 2002. Men’s overall median income fell 1 percent during those years—including a decline of more than 4 percent for men aged 35 to 54. Several factors are behind men’s falling incomes. The growing labor force participation of women has allowed more men to drop out of the labor force or simply work fewer hours, lowering their incomes. The recession of 2001 also reduced men’s labor force participation rate and incomes. Few men have emerged unscathed from the recession of 2001. The median income of Asian men fell 4 percent between 2000 and 2002, after adjusting for inflation. The incomes of black and non-Hispanic white men were down 3 percent. Only Hispanic men saw their incomes rise during those years, up by 1.7 percent. Even college graduates were not immune, posting a 2.1 percent loss in median earnings between 2000 and 2002. This figure compares with a smaller 1.7 percent decline in the median earnings of all men. Even so, men with a college degree still earn 50 percent more than the average man. ■ The incomes of older men are likely to grow in the years ahead as fewer opt for early retirement.

AMERICAN INCOMES: Demographics of Who Has Money 135

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MEN’S INCOME TRENDS

Men’s Income Trends

AMERICAN INCOMES: Demographics of Who Has Money 137

Men’s Incomes Have Declined in Almost Every Age Group Since 2000 Since 1980, men aged 35 to 44 have fared the worst. The median income of men fell 1.2 percent between 2000 and 2002, to $29,238 after adjusting for inflation. Behind the decline was the recession of 2001 and accompanying job losses. Men aged 55 to 64 were the only ones to see income gains during those years, a 1.6 percent rise, as fewer men in the age group opted for early retirement. Some men have fared much better than others during the past two decades. Those aged 65 or older experienced the biggest gains in income—up fully 28 percent between 1980 and 2002, after adjusting for inflation. In contrast, the incomes of men aged 35 to 44 fell 9 percent during those years—a loss of more than $3,500 after adjusting for inflation. Men aged 25 to 34 and 45 to 54 have also lost ground since 1980, while men aged 55 to 64 have experienced a 10 percent increase in median income. ■ The disappearance of relatively high-paying manufacturing jobs has affected the earning power of men.

The median income of men aged 55 to 64 grew between 2000 and 2002 (percent change in median income of men by age, 2000 to 2002; in 2002 dollars)

1.6%

0%

–2%

–2.9% –3.3% –4%

under 25

25 to 34

138 AMERICAN INCOMES: Demographics of Who Has Money

–4.3%

–4.4%

35 to 44

45 to 54

–4.1% 55 to 64

65 or older

MEN’S INCOME TRENDS

Table 2.1

Median Income of Men by Age, 1980 to 2002

(median income of men aged 15 or older with income by age, 1980 to 2002; percent change in income for selected years; in 2002 dollars) aged 65 or older total men

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

2002

$29,238

$9,642

$30,677

$37,892

$40,969

$36,277

$19,436

$21,291

$17,508

2001

29,564

9,449

30,995

38,950

41,758

36,204

20,001

22,040

17,800

2000

29,597

9,968

31,592

39,600

42,855

35,702

20,270

22,416

17,955

1999

29,433

8,959

32,226

39,082

44,177

36,309

20,588

22,991

18,106

1998

29,189

9,024

30,980

38,759

42,884

36,113

20,015

21,743

18,156

1997

28,170

8,345

29,046

36,704

42,038

34,812

19,853

21,957

17,214

1996

27,199

7,942

28,734

36,709

41,347

33,694

19,039

21,231

16,540

1995

26,439

8,101

27,665

36,818

41,700

33,958

19,316

21,499

16,593

1994

26,070

8,459

27,134

36,857

41,929

32,498

18,304

19,923

16,395

1993

25,862

7,879

26,873

37,185

40,632

30,809

18,362

19,959

16,449

1992

25,694

7,910

27,003

37,044

40,423

32,176

18,335

19,859

16,186

1991

26,357

8,088

27,806

37,728

40,918

32,782

18,486

19,745

16,787

1990

27,075

8,431

28,542

39,723

41,368

33,093

18,922

21,304

15,585

1989

27,861

8,841

29,925

41,227

43,364

34,210

18,356

20,259

15,192

1988

27,618

8,535

30,356

41,695

43,204

33,080

18,216

20,364

14,940

1987

26,925

8,261

30,167

40,938

43,126

33,127

18,056

20,304

14,682

1986

26,791

8,270

29,997

40,971

43,450

32,927

18,072

–

–

1985

26,000

7,963

29,748

40,422

41,198

32,290

17,375

–

–

1984

25,696

7,756

29,802

40,464

40,502

32,164

17,212

–

–

1983

25,061

7,338

28,785

38,437

39,593

32,020

16,687

–

–

1982

24,888

7,898

29,287

38,622

38,434

31,806

16,392

–

–

1981

25,458

5,805

30,408

39,903

39,724

32,813

15,378

–

–

1980

25,900

9,503

32,205

41,418

41,288

32,896

15,170

–

–

Percent change 2000–2002

–1.2%

–4.3%

–4.4%

1.6%

–5.0%

–2.5%

1990–2002

8.0

–3.3% 14.4

–2.9% 7.5

–4.6

–1.0

9.6

–4.1% 2.7

–0.1

12.3

1980–2002

12.9

1.5

–4.7

–8.5

–0.8

10.3

28.1

–

–

Note: (–) means data not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 139

Black Men Have Gained Ground Since 1980 But Hispanic men are the only ones who gained between 2000 and 2002. Since 1980, the median income of black men rose a substantial 30 percent, after adjusting for inflation—from $16,555 to $21,509. During those years, the median income of non-Hispanic white men rose a much smaller 13 percent, while that of Hispanic men was up just 4 percent. The median income of men fell between 2000 and 2002, and that of Asian men fell the most—down 4.2 percent after adjusting for inflation. Black men saw their median decline by 3.5 percent, while non-Hispanic white men experienced a 2.6 percent decline. In contrast to these declines, the median income of Hispanic men rose 1.7 percent between 2000 and 2002. Despite this rise, the median income of Hispanic men is now below that of blacks ($20,702 for Hispanic men versus $21,509 for black men). Non-Hispanic white men have the highest median income, at $32,034 in 2002. Asian men are in second place with a median income of $30,839. ■ As younger, better-educated men replace the older and less-educated in the black population, the incomes of black men should resume their climb.

Hispanic men have gained the least since 1980 (percent change in median income of men by race and Hispanic origin, 1980 to 2002; in 2002 dollars)

30%

20%

13% 10%

4% 0%

black

140 AMERICAN INCOMES: Demographics of Who Has Money

Hispanic

non-Hispanic white

MEN’S INCOME TRENDS

Table 2.2

Median Income of Men by Race and Hispanic Origin, 1980 to 2002

(median income of men aged 15 or older with income by race and Hispanic origin, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total men

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

$29,238 29,564 29,597

$30,839 31,590 32,198

$21,509 21,807 22,288

$20,702 20,510 20,361

$32,034 32,296 32,902

1999 1998 1997 1996 1995 1994

29,433 29,189 28,170 27,199 26,439 26,070

29,924 27,681 27,984 26,673 25,969 27,474

22,207 21,288 20,219 18,820 18,756 17,982

19,676 19,014 18,119 17,617 17,389 17,404

33,014 32,902 30,792 30,002 29,859 28,953

1993 1992 1991 1990 1989 1988

25,862 25,694 26,357 27,075 27,861 27,618

26,522 24,984 25,274 25,875 28,865 26,908

17,899 16,410 16,690 17,168 17,659 17,592

16,777 16,842 17,792 17,971 18,767 19,033

28,397 28,135 28,552 29,296 30,336 30,240

1987 1986 1985 1984 1983 1982

26,925 26,791 26,000 25,696 25,061 24,888

– – – – – –

16,978 16,941 17,165 15,563 15,359 15,768

18,515 18,053 18,226 18,285 19,317 18,680

29,814 29,543 28,201 27,931 – 26,983

1981 1980

25,458 25,900

– –

16,063 16,555

19,280 19,965

27,724 28,280

Percent change 2000–2002 –1.2% 1990–2002 8.0 1980–2002 12.9

–4.2% 19.2 –

–3.5% 25.3 29.9

1.7% 15.2 3.7

–2.6% 9.3 13.3

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 141

In Every Region, Men Have Lost Ground Since 2000 Men’s incomes in 2002 were higher than in 1990 or 1980, however. Between 1980 and 2002, men in the South saw their median income rise a substantial 17 percent, after adjusting for inflation, whereas those in the West gained just 3 percent. Behind the small increase in the West was its rapidly growing Hispanic population. Hispanic men have lower incomes than those of any other racial or ethnic group. In every region, men saw their incomes decline between 2000 and 2002. The greatest losses (more than 3 percent) were among men in the Midwest and Northeast. The smallest decline was in the South, down 0.9 percent. ■ The median income of Southern men has grown substantially over the past two decades because a large share are black, and the incomes of black men have been rising rapidly.

Since 1980, men’s incomes have grown the most in the South (percent change in median income of men by region, 1980 to 2002; in 2002 dollars)

16.6% 15%

12.7% 9.7%

10%

5%

2.6% 0%

Northeast

142 AMERICAN INCOMES: Demographics of Who Has Money

Midwest

South

West

MEN’S INCOME TRENDS

Table 2.3

Median Income of Men by Region, 1980 to 2002

(median income of men aged 15 or older with income by region, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total men

Northeast

Midwest

South

West

2002 2001 2000 1999 1998 1997

$29,238 29,564 29,597 29,433 29,189 28,170

$30,649 31,123 31,681 31,066 30,323 29,472

$30,238 30,763 31,441 31,583 30,485 29,369

$27,524 27,780 27,784 27,977 27,872 26,700

$29,094 29,139 29,500 29,335 29,042 27,745

1996 1995 1994 1993 1992 1991

27,199 26,439 26,070 25,862 25,694 26,357

28,852 28,838 28,457 27,308 27,747 28,776

28,993 28,473 26,736 26,589 26,342 26,488

25,373 24,798 24,417 24,160 23,351 23,787

26,698 26,147 26,441 26,393 26,377 27,777

1990 1989 1988 1987 1986 1985

27,075 27,861 27,618 26,925 26,791 26,000

29,227 31,054 31,469 30,001 29,633 28,025

27,582 27,961 27,981 27,120 27,298 26,106

24,588 25,002 24,499 24,742 24,211 23,807

28,003 28,630 28,382 27,935 28,650 27,720

1984 1983 1982 1981 1980

25,696 25,061 24,888 25,458 25,900

27,452 26,505 25,947 26,385 27,207

25,842 25,471 26,029 26,818 27,575

23,404 22,915 22,872 23,065 23,606

27,862 26,659 26,081 27,588 28,354

Percent change 2000–2002 1990–2002 1980–2002

–1.2% 8.0 12.9

–3.3% 4.9 12.7

–3.8% 9.6 9.7

–0.9% 11.9 16.6

–1.4% 3.9 2.6

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 143

Men’s Earnings Fell between 2000 and 2002 Men working full-time, year-round saw their earnings grow, however. Between 2000 and 2002, the median earnings of men fell 2.1 percent, to $31,647 after adjusting for inflation. But among men working full-time, year-round, earnings were up 1.4 percent during those years. Men working part-time saw their earnings grow an even larger 5.1 percent. Between 1980 and 2002, the median earnings of men rose 9 percent, after adjusting for inflation. Among men working full-time, year-round, however, earnings climbed only 2.5 percent. Men working part-time have seen a 49 percent gain in earnings during the past two decades, but by 2002 their median earnings stood at just $6,317. ■ Men with full-time, year-round jobs are making gains, but the recession of 2001 forced many men to work part-time or not at all.

Men working full-time, year-round are struggling to get ahead (median income of men working full-time, year-round for selected years, 1980 to 2002; in 2002 dollars)

$38,472

$36,927

$38,901

$39,429

2000

2002

$30,000

$20,000

$10,000

$0

1980

144 AMERICAN INCOMES: Demographics of Who Has Money

1990

MEN’S INCOME TRENDS

Table 2.4

Median Earnings of Men by Work Experience, 1980 to 2002

(median earnings of men aged 15 or older with earnings by work experience, 1980 to 2002; percent change in earnings for selected years; in 2002 dollars) worked full-time

worked part-time

total men with earnings

total

year-round

total

year-round

2002 2001 2000

$31,647 31,863 32,321

$35,841 35,878 36,094

$39,429 38,884 38,901

$6,317 5,777 6,012

$10,712 10,577 10,801

1999 1998 1997 1996 1995 1994

32,485 31,683 29,992 29,426 29,316 28,393

35,426 34,983 34,397 33,784 33,048 32,461

39,361 38,944 37,625 36,682 36,908 37,034

5,583 5,706 5,516 5,001 5,225 5,179

10,046 9,886 10,029 9,773 9,526 9,366

1993 1992 1991 1990 1989 1988

27,504 27,513 28,143 28,714 29,938 30,107

32,151 32,420 32,868 33,143 34,289 34,170

37,265 37,931 37,883 36,927 38,278 38,935

4,782 4,979 5,123 5,258 4,741 4,614

8,869 8,870 8,921 9,163 9,184 8,975

1987 1986 1985 1984 1983 1982

30,002 29,402 28,341 28,045 27,530 27,426

33,558 33,765 33,019 32,963 31,927 31,444

39,279 39,537 38,568 38,244 37,480 37,603

4,290 4,369 4,359 4,144 4,085 4,369

8,912 8,829 8,585 8,684 8,264 8,649

1981 1980

28,459 28,962

32,287 32,970

38,283 38,472

4,236 4,241

8,378 8,646

Percent change 2000–2002 –2.1% 1990–2002 10.2 1980–2002

9.3

–0.7% 8.1 8.7

1.4% 6.8

5.1% 20.1

–0.8% 16.9

2.5

48.9

23.9

Note: Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 145

Black Men Earn More than Hispanics Hispanic men have seen their earnings decline since 1980. Among men who work full time, the median earnings of blacks have pulled far ahead of the Hispanic median. In 1980, blacks and Hispanics earned virtually the same amount. Between 1980 and 2002, the median earnings of black men rose 12 percent, after adjusting for inflation. The median earnings of their Hispanic counterparts fell 7 percent during those years. By 2002, the median earnings of black men working full-time stood at $31,447, substantially higher than the $25,971 median of their Hispanic counterparts. Non-Hispanic white men had the highest earnings in 2002, a median of $42,478. The median earnings of Asian men were a slightly lower $41,741. Between 2000 and 2002, Hispanic men were the only ones to gain ground. The median earnings of Hispanic men working full time rose 4.6 percent during those years, despite the recession. This compares with no change for blacks and a 1 percent loss for both Asians and non-Hispanic whites. ■ The earnings of Hispanic men have not kept pace with those of other men over the past few decades because millions of poorly educated immigrants with little earning power have arrived in the United States.

Black men pulled ahead, while Hispanics fell behind (median earnings of black and Hispanic men working full-time, year-round, 1980, 1990, and 2002; in 2002 dollars)

$31,447 $30,000

$28,002

$28,026

$28,170 $25,531

$25,971

$20,000

$10,000 black Hispanic

$0

1980

146 AMERICAN INCOMES: Demographics of Who Has Money

1990

2002

MEN’S INCOME TRENDS

Table 2.5

Median Earnings of Men Who Work Full-time by Race and Hispanic Origin, 1980 to 2002

(median earnings of men aged 15 or older working full-time, year-round, by race and Hispanic origin, 1980 to 2002; percent change in earnings for selected years; in 2002 dollars) total men

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

$39,429 38,884 38,901

$41,741 42,518 42,351

$31,447 31,849 31,433

$25,971 25,482 24,831

$42,478 42,344 43,073

1999 1998 1997 1996 1995 1994

39,361 38,944 37,625 36,682 36,908 37,034

39,731 38,374 38,750 39,315 36,999 38,482

32,401 29,803 29,533 30,132 28,625 28,497

24,773 24,553 24,151 24,028 23,881 24,383

43,514 41,577 40,890 40,445 40,313 39,175

1993 1992 1991 1990 1989 1988

37,265 37,931 37,883 36,927 38,278 38,935

37,873 38,339 38,833 35,709 39,426 39,615

28,211 28,133 28,424 28,170 28,607 29,756

24,693 24,545 25,457 25,531 25,711 26,074

39,182 39,845 39,977 40,203 41,971 41,274

1987 1986 1985 1984 1983 1982

39,279 39,537 38,568 38,244 37,480 37,603

– – – – – –

28,950 28,708 27,862 27,402 27,668 27,658

26,393 26,323 27,179 27,903 27,695 27,443

41,138 – – – – –

1981 1980

38,283 38,472

– –

27,829 28,002

27,815 28,026

– –

Percent change 2000–2002 1990–2002 1980–2002

1.4% 6.8 2.5

–1.4% 16.9 –

0.0% 11.6 12.3

4.6% 1.7 –7.3

–1.4% 5.7 –

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 147

Even Educated Men Lost Ground between 2000 and 2002 Over the past two decades, however, the best-educated men have experienced the biggest gains. Between 2000 and 2002, the median earnings of men aged 25 or older who work full-time fell 1.1 percent, after adjusting for inflation. Behind the decline was the recession of 2001 and job losses. Even educated men lost ground. Among men with at least a bachelor’s degree, median earnings fell 2.1 percent. Among men with a master’s degree, median earnings declined 1.3 percent. High school graduates saw their earnings shrink 2.0 percent. Since 1991, the median earnings of the best-educated men have grown much more than those with less education. The biggest losers during those years were high school dropouts, with a decline of 4.2 percent. Men who went no further than a high school diploma saw their earnings fall 1.6 percent between 1991 and 2002. In contrast, the median earnings of men with at least a bachelor’s degree rose 13 percent, after adjusting for inflation. ■ The labor market still pays a premium to highly educated workers, but a college degree does not insulate workers from recessions.

Between 2000 and 2002, the median earnings of men with doctoral degrees rose the most (percent change in median earnings of men aged 25 or older who work full-time, by educational attainment, 2000 to 2002; in 2002 dollars)

5,8%

4%

2.5%

2.7%

2.3%

2%

0.6% 0.1% 0%

–1.1%

–1.3% –2.0%

less than 9th grade

9th–12th grade, no diploma

high school graduate

148 AMERICAN INCOMES: Demographics of Who Has Money

some college

associate’s degree

bachelor’s degree

master’s degree

professional degree

doctoral degree

Table 2.6 Median Earnings of Men Who Work Full-time by Education, 1991 to 2002

(median earnings of men aged 25 or older working full-time, year-round, by educational attainment, 1991 to 2002; in 2002 dollars) bachelor’s degree or more total men

less than 9th grade

9th to 12th grade, no degree

high school graduate

some college

associate’s degree

total

bachelor’s degree

master’s degree

professional degree

doctoral degree

$83,305

2002

$41,152

$20,919

$25,903

$33,206

$40,851

$42,856

$61,700

$56,077

$67,281

$100,000

2001

41,353

21,475

26,268

33,562

40,798

42,320

61,516

53,952

67,998

101,590

82,366

2000

41,862

21,146

25,737

33,867

39,864

42,797

63,021

54,823

68,169

97,403

78,702

1999

41,467

21,320

26,200

34,637

40,191

43,676

60,860

55,039

66,663

103,891

82,938

1998

40,414

20,442

25,824

34,010

39,609

42,401

57,639

55,070

66,294

99,882

76,232

1997

39,905

20,727

27,085

34,251

39,204

40,979

57,204

51,682

64,304

87,475

79,001

1996

39,329

19,681

25,341

34,337

37,993

41,164

57,211

49,961

63,993

89,176

75,499

1995

38,504

20,497

25,647

33,445

37,924

39,218

56,320

49,921

60,716

88,217

72,301

1994

38,566

20,586

26,104

32,692

37,621

42,155

56,383

50,470

61,639

86,527

72,340

38,727

20,074

26,230

32,869

38,333

39,973

56,359

50,753

61,064

94,593

75,184

39,340

21,169

26,450

33,537

39,368

40,623

54,953

50,676

59,322

92,452

70,777

1991

39,753

21,735

27,032

33,758

39,959

41,488

54,552

51,368

60,520

90,498

70,337

Percent change 2000–2002

–1.7%

1991–2002

3.5

–1.1% –3.8

0.6% –4.2

–2.0%

2.5%

0.1%

–2.1%

2.3%

–1.3%

–1.6

2.2

3.3

13.1

9.2

11.2

2.7% 10.5

5.8% 18.4

Note: Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/hhes/income/histinc/ incperdet.html; calculations by New Strategist

MEN’S INCOME TRENDS

AMERICAN INCOMES: Demographics of Who Has Money 149

1993 1992

Many Professional Workers Have Seen Earnings Decline Since 2000 Health fields, protective services, and some blue-collar workers gained ground despite the recession. Although the earnings of men in managerial and professional specialty positions have been growing much faster than average for years, during the recession of 2001 men in these positions took a bigger hit than most others. Between 2000 and 2001, the earnings of men working full-time remained virtually unchanged. But men working in executive, administrative, and managerial positions saw their earnings fall 2.2 percent, after adjusting for inflation. (Note: Because the government changed occupational classifications in 2002, it is impossible to compare 2002 figures with those for earlier years. For 2002 earnings by occupation, see Men’s Income, 2002). Men in professional specialty occupations experienced an even larger 3.8 percent decline. In contrast, male health technologists saw their earnings rise 3.3 percent. Men in protective services experienced a 2.4 percent gain, and operators, fabricators, and laborers saw a 3.3 percent increase in earnings. The decline in earnings among managers and professionals was a reversal of the longterm trend of above-average gains. Behind the reversal was the bursting of the high-tech bubble, which resulted in massive layoffs of managers and professionals in a variety of industries. Also behind the decline was the outsourcing of many white-collar jobs to other countries. ■ As the economy recovers from recession, men in managerial and professional specialty occupations may once again reclaim the top spot in earnings growth.

The recession affected men differently depending on occupation (percent change in median earnings of men working full-time, by selected occupation, 2000 to 2001; in 2002 dollars)

9.5% 8%

3.3%

4%

3.3% 2.4%

0%

–2.2%

–2.6% –3.8%

executive, administrative, managerial

professional specialty

health technologists

150 AMERICAN INCOMES: Demographics of Who Has Money

protective service

farming, forestry, fishing

precision production, craft, repair

operators, fabricators, laborers

Table 2.7 Median Earnings of Men Who Work Full-time by Occupation, 1990 to 2001

(median earnings of men aged 15 or older working full-time, year-round, by occupation of longest job held, 1990 to 2001; in 2002 dollars) managerial and professional specialty total men

total

executive, admin., professional managerial specialty

service occupations

technical, sales, and administrative support

total

health techs.

techs. excl. health

sales

admin. support

total

service excl. protective protective, service household

farming, forestry, fishing

precision production, craft, and repair

operators, fabricators, laborers

armed forces

$32,971

2001

$38,884

$58,318

$58,187

$58,544

$41,166

$38,872

$49,338

$42,562

$33,520

$25,402

$40,708

$21,368

$21,350

$35,759

$30,183

2000

38,901

59,930

59,519

60,868

40,529

37,640

48,704

42,628

33,667

25,907

39,747

21,672

19,491

36,717

29,222

33,161

1999

39,361

59,383

59,632

58,936

40,102

39,080

45,562

41,294

34,280

26,210

41,451

21,882

20,448

37,152

29,228

32,507

1998

38,944

56,736

56,579

56,913

39,772

37,887

45,528

41,040

34,324

24,807

39,404

19,803

20,774

34,851

29,699

33,572

1997

37,625

56,167

56,032

56,315

37,901

34,695

45,410

39,838

32,896

24,956

41,489

20,416

19,434

35,191

29,342

31,184

1996

36,682

54,308

53,240

57,072

38,229

36,805

44,415

40,060

34,670

23,997

39,204

20,394

20,686

34,715

28,930

30,434

1995

36,908

54,976

54,528

55,472

37,558

36,505

43,545

41,088

32,135

24,996

38,003

20,333

20,330

35,648

27,673

29,235

1994

37,034

55,461

55,145

55,798

37,731

30,557

44,659

39,429

32,256

25,200

39,482

20,679

19,517

35,441

27,837

30,959

1993

37,265

54,079

52,357

55,316

38,358

38,800

43,871

39,618

32,778

25,565

38,408

20,287

19,186

33,890

28,283

30,551 28,132

37,931

54,198

53,332

55,205

38,293

39,611

41,735

39,227

34,036

25,620

38,548

20,023

18,604

36,046

28,573

37,883

54,007

53,609

54,541

38,769

35,129

42,191

39,397

34,813

25,666

37,827

21,471

19,286

35,419

28,762

27,089

1990

36,927

54,478

54,096

54,834

38,192

40,308

41,652

39,561

34,945

24,749

36,571

20,531

19,282

35,363

29,336

26,521

Percent change 2000–2001

0.0%

1990–2001

5.3

–2.7%

–2.2%

–3.8%

7.0

7.6

6.8

1.6% 7.8

3.3% –3.6

1.3% 18.5

–0.2% 7.6

–0.4% –4.1

–2.0% 2.6

2.4% 11.3

–1.4% 4.1

9.5% 10.7

–2.6% 1.1

3.3%

–0.6%

2.9

24.3

Note: In 2002, occupational classifications changed. Consequently, the 2002 data are not comparable with those for earlier years. To see median earnings of full-time workers by occupation in 2002, go to Men’s and Women’s Income in 2002 sections. Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/hhes/income/histinc/incperdet.html; calculations by New Strategist

MEN’S INCOME TRENDS

AMERICAN INCOMES: Demographics of Who Has Money 151

1992 1991

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MEN’S INCOME, 2002

Men’s Income, 2002

AMERICAN INCOMES: Demographics of Who Has Money 153

Income Peaks among Men Aged 45 to 54 Among full-time workers, however, there is less variation by age. The median income of men stood at $29,238 in 2002, meaning half of men had incomes above that amount and half below. Men’s incomes rise with age to a peak of $40,969 in the 45-to-54 age group. Seventy-five percent of men aged 45 to 54 work full-time, and those who do have a median income of $47,652. Among full-time workers, median income surpasses $50,000 among the workers aged 65 or older. Only 10 percent of men aged 65 or older work full-time, however. Among full-time workers, the $45,153 median income of non-Hispanic white men is higher than that of their Asian, black, or Hispanic counterparts. The median income of Asian men who work full-time is slightly lower, at $42,448. The median income of black men is much lower, at $31,966. Hispanic men had the lowest median income, at $26,137 in 2002, although they are most likely to work full-time. Fifty-seven percent of Hispanic men work full-time versus 56 percent of Asians, 55 percent of non-Hispanic whites, and only 45 percent of blacks. ■ The median income of men will rise in the years ahead as a larger share of those in their sixties work full-time.

For men working full-time, income peaks among those aged 65 or older (median income of men aged 15 or older who work full-time, year-round, by age, 2002)

$47,652

$50,000

$49,223

$52,064

$51,656

65 to 74

75 or older

$43,099 $35,147

$25,000

$21,342

$0

under 25

25 to 34

154 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 64

MEN’S INCOME, 2002

Table 2.8

Men by Income and Age, 2002: Total Men

(number and percent distribution of men aged 15 or older by income and age, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) 65 or older TOTAL MEN

Without income

total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

108,814

20,216

19,564

21,733

19,606

13,166

14,528

8,275

6,253

9,026

6,096

869

754

635

416

255

133

122

With income

99,788

14,120

18,695

20,979

18,971

12,750

14,273

8,142

6,131

Under $5,000

7,760

4,659

715

658

649

590

490

255

234

$5,000 to $9,999

8,301

2,543

1,130

1,020

899

822

1,887

1,002

885

$10,000 to $14,999

9,473

1,934

1,497

1,120

1,087

1,065

2,771

1,391

1,381

$15,000 to $19,999

9,063

1,500

1,808

1,428

1,150

971

2,204

1,200

1,004

$20,000 to $24,999

8,706

1,214

1,936

1,784

1,308

875

1,589

823

765

$25,000 to $29,999

7,500

737

1,882

1,593

1,248

898

1,144

647

497

$30,000 to $34,999

7,288

492

1,886

1,790

1,430

905

785

510

276

$35,000 to $39,999

6,240

362

1,495

1,550

1,363

809

661

409

252

$40,000 to $44,999

5,406

250

1,312

1,386

1,263

730

465

314

151

$45,000 to $49,999

4,079

135

944

1,085

981

577

359

234

126

$50,000 to $54,999

4,426

86

905

1,262

1,183

676

314

213

102

$55,000 to $59,999

2,622

48

491

733

675

435

239

186

54

$60,000 to $64,999

2,788

19

566

805

801

404

195

126

68

$65,000 to $69,999

1,947

15

371

537

543

290

191

146

45

$70,000 to $74,999

1,955

31

330

608

536

323

127

87

40

$75,000 to $79,999

1,814

11

245

544

568

337

107

65

42

$80,000 to $84,999

1,446

21

200

414

479

246

85

62

24

$85,000 to $89,999

909

5

105

260

259

218

62

34

27

$90,000 to $94,999

877

13

123

264

253

162

62

41

21

$95,000 to $99,999

635

6

74

194

207

106

46

32

14

6,556

42

682

1,943

2,090

1,308

490

366

124

$29,238

$9,642

$30,677

$37,892

$40,969

$36,277

$19,436

$21,291

$17,508

Men working full-time 40,507

21,342

35,147

43,099

47,652

49,223

52,032

52,064

51,656

$100,000 or more Median income Men with income

Percent working full-time 54.0%

23.1%

71.9%

76.6%

74.5%

55.8%

9.9%

14.4%

3.9%

100.0%

100.0%

100.0%

PERCENT DISTRIBUTION TOTAL MEN

Without income With income

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

8.3

30.2

4.4

3.5

63.2

3.2

1.8

1.6

2.0

91.7

69.8

95.6

96.5

96.8

96.8

98.2

98.4

98.0

Under $15,000

23.5

45.2

17.1

12.9

13.4

18.8

35.4

32.0

40.0

$15,000 to $24,999

16.3

13.4

19.1

14.8

12.5

14.0

26.1

24.4

28.3

$25,000 to $49,999

28.0

9.8

38.4

34.1

32.1

29.8

23.5

25.5

20.8

$50,000 to $74,999

12.6

1.0

13.6

18.2

19.1

16.2

7.3

9.2

4.9

$75,000 or more

11.2

0.5

7.3

16.7

19.7

18.1

5.9

7.3

4.0

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 155

Table 2.9

Men by Income and Age, 2002: Asian Men

(number and percent distribution of Asian men aged 15 or older by income and age, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

4,688 549 4,139 365 343 362 339 334 255 294 242 199 172 156 79 134 72 101 98 91 50 55 40 360

915 335 580 205 90 78 66 45 18 22 22 16 6 – 1 1 – 2 1 2 2 2 – 2

1,116 68 1,048 50 65 75 78 80 77 96 74 51 52 56 24 49 30 27 28 22 13 14 6 82

1,010 52 958 34 31 61 53 78 62 83 54 57 48 50 25 42 28 27 34 33 15 13 16 114

752 27 725 19 27 45 53 61 45 51 47 42 40 37 16 22 10 24 21 28 13 12 17 94

452 27 425 15 46 31 38 46 27 26 28 19 18 8 7 16 1 14 10 6 5 8 2 52

444 41 403 42 84 72 51 24 25 16 16 15 8 4 5 5 4 7 4 – 2 5 – 16

290 21 269 24 50 51 35 19 8 14 12 8 4 4 4 4 4 6 2 – 2 4 – 14

153 19 134 18 35 20 16 5 17 2 4 7 3 – 1 – – – 2 – – – – 2

Median income Men with income $30,839 Men working full-time 42,448

$9,783 24,823

$35,145 43,711

$41,657 46,375

$41,197 46,559

$31,514 41,062

$15,325 –

$16,432 –

$13,132 –

TOTAL ASIAN MEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

Percent working full-time 56.2%

18.1%

66.2%

79.0%

78.5%

62.2%

13.5%

19.0%

3.3%

100.0% 36.6 63.4 40.8 12.1 9.2 0.4 1.0

100.0% 6.1 93.9 17.0 14.2 31.4 16.7 14.8

100.0% 5.1 94.9 12.5 13.0 30.1 17.0 22.3

100.0% 3.6 96.4 12.1 15.2 29.9 14.5 24.6

100.0% 6.0 94.0 20.4 18.6 26.1 10.2 18.4

100.0% 9.2 90.8 44.6 16.9 18.0 5.6 6.1

100.0% 7.2 92.8 43.1 18.6 15.9 7.6 7.6

100.0% 12.4 87.6 47.7 13.7 21.6 0.7 2.6

PERCENT DISTRIBUTION TOTAL ASIAN MEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 11.7 88.3 22.8 14.4 24.8 11.6 14.8

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

156 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.10

Men by Income and Age, 2002: Black Men

(number and percent distribution of black men aged 15 or older by income and age, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

12,188 2,092 10,096 1,039 1,377 1,134 1,120 1,008 805 755 618 509 320 325 202 158 106 113 101 73 42 57 13 221

2,935 1,322 1,613 579 349 188 166 129 74 47 17 28 8 8 9 3 – – 3 – – – – 5

2,328 244 2,084 140 214 179 251 269 202 196 169 120 82 72 32 38 27 13 16 16 8 11 – 31

2,492 222 2,270 108 192 187 219 252 209 205 186 133 99 114 67 55 43 45 31 21 18 21 7 56

2,121 165 1,956 103 186 199 219 186 146 183 147 131 81 79 45 43 19 34 30 24 9 13 6 70

1,172 94 1,078 62 152 123 115 72 92 77 71 67 41 39 35 11 11 17 18 9 8 11 1 44

1,140 46 1,094 46 282 256 151 98 81 47 28 29 10 12 14 7 6 4 2 3 – 1 – 15

717 22 695 24 171 149 98 66 48 35 23 24 6 7 11 7 6 4 1 2 – 1 – 11

423 23 400 21 112 108 53 32 34 12 5 5 4 5 3 – – – 1 – – – – 4

Median income Men with income $21,509 Men working full-time 31,966

$7,583 20,229

$24,752 30,620

$28,846 34,989

$26,942 35,408

$25,604 38,495

$14,162 33,279

$15,151 33,207

$12,867 –

TOTAL BLACK MEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

Percent working full-time 45.2%

17.6%

60.4%

66.2%

61.8%

43.5%

9.9%

13.1%

4.5%

100.0% 45.0 55.0 38.0 10.1 5.9 0.7 0.3

100.0% 10.5 89.5 22.9 22.3 33.0 7.8 3.5

100.0% 8.9 91.1 19.5 18.9 33.4 13.0 6.2

100.0% 7.8 92.2 23.0 19.1 32.4 10.4 7.2

100.0% 8.0 92.0 28.8 16.0 29.7 9.6 7.8

100.0% 4.0 96.0 51.2 21.8 17.1 3.8 1.8

100.0% 3.1 96.9 48.0 22.9 19.0 4.9 2.1

100.0% 5.4 94.6 57.0 20.1 14.2 1.9 1.2

PERCENT DISTRIBUTION TOTAL BLACK MEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 17.2 82.8 29.1 17.5 24.7 7.4 4.2

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 157

Table 2.11

Men by Income and Age, 2002: Hispanic Men

(number and percent distribution of Hispanic men aged 15 or older by income and age, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

14,353 1,729 12,624 988 1,407 1,816 1,813 1,537 1,178 866 660 496 373 376 190 207 97 92 109 68 36 35 28 251

3,602 1,218 2,384 480 386 514 374 249 130 85 50 44 20 15 3 4 – 3 3 3 3 2 2 14

3,998 187 3,811 187 269 566 581 529 431 322 255 162 113 123 55 65 30 25 18 18 7 8 5 38

3,061 131 2,930 88 206 294 409 414 329 240 200 148 121 111 64 78 28 26 38 24 9 9 6 88

1,768 95 1,673 85 143 171 205 195 162 126 92 81 74 74 40 35 25 24 25 14 10 11 12 68

1,018 57 961 68 115 111 125 92 78 73 44 39 36 38 25 21 11 12 24 9 6 3 1 31

906 41 865 82 287 161 118 57 48 20 18 22 9 14 3 4 3 2 1 – – 2 3 12

557 25 532 46 150 98 80 41 28 19 12 16 9 11 2 4 3 2 1 – – 2 3 5

349 15 334 35 137 64 38 15 20 1 6 5 – 3 1 – – – – – – – – –

Men with income $20,702 Men working full-time 26,137

$12,454 18,547

$22,017 25,688

$25,592 28,713

$25,941 31,160

$22,394 30,730

$11,628 31,185

$13,352 29,653

$9,791 –

TOTAL HISPANIC MEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income

Percent working full-time 57.0%

32.2%

72.7%

74.1%

66.7%

57.2%

9.7%

13.6%

3.4%

100.0% 33.8 66.2 38.3 17.3 9.1 0.7 0.7

100.0% 4.7 95.3 25.6 27.8 32.1 7.5 2.4

100.0% 4.3 95.7 19.2 26.9 33.9 10.0 5.7

100.0% 5.4 94.6 22.6 22.6 30.3 11.2 7.9

100.0% 5.6 94.4 28.9 21.3 26.5 10.5 7.3

100.0% 4.5 95.5 58.5 19.3 12.9 2.9 2.0

100.0% 4.5 95.5 52.8 21.7 15.1 3.9 2.0

100.0% 4.3 95.7 67.6 15.2 9.2 1.1 –

PERCENT DISTRIBUTION TOTAL HISPANIC MEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 12.0 88.0 29.3 23.3 24.9 6.7 3.7

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

158 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.12

Men by Income and Age, 2002: Non-Hispanic White Men

(number and percent distribution of non-Hispanic white men aged 15 or older by income and age, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

76,722 4,576 72,146 5,250 5,088 6,142 5,707 5,766 5,218 5,301 4,650 4,168 3,190 3,526 2,135 2,264 1,656 1,639 1,500 1,199 774 723 547 5,703

12,632 3,181 9,451 3,340 1,690 1,177 886 784 513 335 261 164 100 61 36 9 13 26 4 16 1 8 4 21

11,989 352 11,637 325 563 677 881 1,054 1,166 1,258 991 968 696 646 377 408 284 265 183 141 77 91 61 526

14,989 342 14,647 409 574 573 730 1,029 988 1,245 1,078 1,032 812 977 579 627 430 509 443 332 214 219 167 1,681

14,794 339 14,455 434 533 664 665 847 885 1,064 1,065 1,006 780 980 564 690 486 447 489 405 222 211 174 1,847

10,402 234 10,168 437 503 795 682 654 687 706 663 603 471 581 366 355 265 280 283 222 199 138 98 1,181

11,916 127 11,789 306 1,225 2,257 1,862 1,400 980 694 592 395 331 283 215 175 178 113 99 82 60 54 43 447

6,621 63 6,558 148 629 1,077 970 689 556 435 357 262 213 190 168 107 134 74 59 59 33 33 29 335

5,294 63 5,231 158 596 1,179 891 710 424 259 235 133 117 93 47 67 44 40 39 24 27 21 14 111

Median income Men with income $32,034 Men working full-time 45,153

$8,857 22,403

$34,254 38,272

$42,369 48,745

$45,343 51,233

$39,608 51,634

$20,785 56,000

$23,064 56,069

$18,657 55,732

TOTAL NON-HISPANIC WHITE MEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

Percent working full-time 54.8%

22.3%

74.8%

78.8%

77.1%

56.9%

9.8%

14.5%

3.9%

100.0% 25.2 74.8 49.1 13.2 10.9 1.1 0.4

100.0% 2.9 97.1 13.1 16.1 42.4 16.5 9.0

100.0% 2.3 97.7 10.4 11.7 34.4 20.8 20.4

100.0% 2.3 97.7 11.0 10.2 32.4 21.4 22.6

100.0% 2.2 97.8 16.7 12.8 30.1 17.8 20.4

100.0% 1.1 98.9 31.8 27.4 25.1 8.1 6.6

100.0% 1.0 99.0 28.0 25.1 27.5 10.2 8.3

100.0% 1.2 98.8 36.5 30.2 22.1 5.5 4.5

PERCENT DISTRIBUTION TOTAL NON-HISPANIC WHITE MEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 6.0 94.0 21.5 15.0 29.4 14.6 13.6

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 159

Table 2.13

Men by Income, Race, and Hispanic Origin, 2002

(number and percent distribution of men aged 15 or older by income, race, and Hispanic origin, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003)

TOTAL MEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

total

Asian

black

Hispanic

non-Hispanic white

108,814 9,026 99,788 7,760 8,301 9,473 9,063 8,706 7,500 7,288 6,240 5,406 4,079 4,426 2,622 2,788 1,947 1,955 1,814 1,446 909 877 635 6,556

4,688 549 4,139 365 343 362 339 334 255 294 242 199 172 156 79 134 72 101 98 91 50 55 40 360

12,188 2,092 10,096 1,039 1,377 1,134 1,120 1,008 805 755 618 509 320 325 202 158 106 113 101 73 42 57 13 221

14,353 1,729 12,624 988 1,407 1,816 1,813 1,537 1,178 866 660 496 373 376 190 207 97 92 109 68 36 35 28 251

76,722 4,576 72,146 5,250 5,088 6,142 5,707 5,766 5,218 5,301 4,650 4,168 3,190 3,526 2,135 2,264 1,656 1,639 1,500 1,199 774 723 547 5,703

$30,839 42,448 56.2%

$21,509 31,966 45.2%

$20,702 26,137 57.0%

$32,034 45,153 54.8%

100.0% 11.7 88.3 22.8 14.4 24.8 11.6 14.8

100.0% 17.2 82.8 29.1 17.5 24.7 7.4 4.2

100.0% 12.0 88.0 29.3 23.3 24.9 6.7 3.7

100.0% 6.0 94.0 21.5 15.0 29.4 14.6 13.6

Median income Men with income $29,238 Men working full-time 40,507 Percent working full-time 54.0%

PERCENT DISTRIBUTION TOTAL MEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 8.3 91.7 23.5 16.3 28.0 12.6 11.2

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

160 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Men in the South Have the Lowest Incomes Among full-time workers, incomes are highest in the Northeast. The median income of men in the South was $27,524 in 2002, less than the median income of their counterparts in the other three regions. In the West, the median income of men stood at $29,094 in 2002. Men’s median income is a higher $30,238 in the Midwest and $30,649 in the Northeast. Among full-time workers, men in the Northeast have the highest incomes—a median of $43,800 in 2002. Among men who work full-time in the South, median income is just $37,343. Regardless of race or Hispanic origin, the incomes of men who work full-time are lowest in the South. At the bottom are Hispanic men in the region. Those who work fulltime had a median income of just $25,279. The highest incomes vary by region, race, and Hispanic origin. Among non-Hispanic white men who work full-time, median income peaks at $49,397 in the West. The income peak for Asian men who work full-time is in the Midwest at a slightly lower $48,925. Among black men who work full-time, income peaks in the West at $35,609. For Hispanics, median income is highest in the Northeast at $28,481. ■ Hispanic men have low incomes because many are poorly educated immigrants with little earning power.

Men’s incomes are highest in the Northeast (median income of men aged 15 or older who work full-time, year-round, by region, 2002)

$43,800 $41,256 $40,000

$40,664 $37,343

$20,000

$0

Northeast

Midwest

South

West

AMERICAN INCOMES: Demographics of Who Has Money 161

Table 2.14

Men by Income and Region, 2002: Total Men

(number and percent distribution of men aged 15 or older by income and region, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003)

TOTAL MEN

Without income With income

total

Northeast

Midwest

South

West

108,814

20,809

24,600

38,471

24,934

9,026

1,769

1,669

3,436

2,152

99,788

19,040

22,931

35,035

22,782

Under $5,000

7,760

1,447

1,927

2,594

1,793

$5,000 to $9,999

8,301

1,490

1,816

3,134

1,860

$10,000 to $14,999

9,473

1,757

1,881

3,567

2,267

$15,000 to $19,999

9,063

1,617

1,918

3,407

2,121

$20,000 to $24,999

8,706

1,537

2,055

3,126

1,987

$25,000 to $29,999

7,500

1,437

1,755

2,716

1,592

$30,000 to $34,999

7,288

1,287

1,774

2,676

1,552

$35,000 to $39,999

6,240

1,133

1,470

2,251

1,387

$40,000 to $44,999

5,406

1,033

1,413

1,783

1,177

$45,000 to $49,999

4,079

789

970

1,375

945

$50,000 to $54,999

4,426

857

1,084

1,563

921

$55,000 to $59,999

2,622

537

651

855

579

$60,000 to $64,999

2,788

575

690

900

623

$65,000 to $69,999

1,947

412

467

573

495

$70,000 to $74,999

1,955

422

448

650

436

$75,000 to $79,999

1,814

398

349

630

439

$80,000 to $84,999

1,446

294

358

416

376

$85,000 to $89,999

909

226

197

259

227

$90,000 to $94,999

877

202

200

242

233

$95,000 to $99,999

635

145

136

173

179

6,556

1,447

1,372

2,144

1,593

$29,238

$30,649

$30,238

$27,524

$29,094

40,507

43,800

41,256

37,343

40,665

$100,000 or more Median income Men with income Men working full-time Percent working full-time

54.0%

52.7%

54.6%

54.7%

53.5%

100.0%

100.0%

100.0%

100.0%

100.0%

8.3

8.5

6.8

8.9

8.6

91.7

91.5

93.2

91.1

91.4

PERCENT DISTRIBUTION TOTAL MEN Without income With income Under $15,000

23.5

22.6

22.9

24.2

23.7

$15,000 to $24,999

16.3

15.2

16.2

17.0

16.5

$25,000 to $49,999

28.0

27.3

30.0

28.1

26.7

$50,000 to $74,999

12.6

13.5

13.6

11.8

12.2

$75,000 or more

11.2

13.0

10.6

10.0

12.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

162 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.15

Men by Income and Region, 2002: Asian Men

(number and percent distribution of Asian men aged 15 or older by income and region, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003)

TOTAL ASIAN MEN

Without income With income

total

Northeast

Midwest

South

West

4,688

945

511

988

2,244

549

101

63

130

256

4,139

844

448

858

1,988 177

Under $5,000

365

64

38

85

$5,000 to $9,999

343

48

48

45

202

$10,000 to $14,999

362

77

30

66

189

$15,000 to $19,999

339

71

22

88

157

$20,000 to $24,999

334

57

34

83

161

$25,000 to $29,999

255

50

20

62

124

$30,000 to $34,999

294

47

31

54

161 109

$35,000 to $39,999

242

54

25

52

$40,000 to $44,999

199

37

20

49

94

$45,000 to $49,999

172

31

16

35

92 59

$50,000 to $54,999

156

34

17

47

$55,000 to $59,999

79

24

16

10

29

$60,000 to $64,999

134

29

21

28

56

$65,000 to $69,999

72

15

12

11

34

$70,000 to $74,999

101

11

12

17

60

$75,000 to $79,999

98

27

11

15

44

$80,000 to $84,999

91

22

10

17

43

$85,000 to $89,999

50

15

9

6

19

$90,000 to $94,999

55

19

7

6

23

$95,000 to $99,999

40

9

4

1

26

360

105

46

80

130

$30,839

$35,540

$35,320

$29,979

$29,201

42,448

47,419

48,925

40,070

41,571

$100,000 or more Median income Men with income Men working full-time Percent working full-time

56.2%

62.1%

60.3%

58.4%

51.7%

100.0%

100.0%

100.0%

100.0%

100.0%

PERCENT DISTRIBUTION TOTAL ASIAN MEN

Without income

11.7

10.7

12.3

13.2

11.4

With income

88.3

89.3

87.7

86.8

88.6

Under $15,000

22.8

20.0

22.7

19.8

25.3

$15,000 to $24,999

14.4

13.5

11.0

17.3

14.2

$25,000 to $49,999

24.8

23.2

21.9

25.5

25.8

$50,000 to $74,999

11.6

12.0

15.3

11.4

10.6

$75,000 or more

14.8

20.8

17.0

12.7

12.7

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 163

Table 2.16

Men by Income and Region, 2002: Black Men

(number and percent distribution of black men aged 15 or older by income and region, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003)

TOTAL BLACK MEN

Without income With income

total

Northeast

Midwest

South

West

12,188

2,297

2,170

6,476

1,245

2,092

446

386

1,065

195

10,096

1,851

1,784

5,411

1,050

Under $5,000

1,039

179

210

533

118

$5,000 to $9,999

1,377

255

265

745

113

$10,000 to $14,999

1,134

203

183

630

117

$15,000 to $19,999

1,120

180

188

627

125

$20,000 to $24,999

1,008

192

166

557

93

$25,000 to $29,999

805

147

148

440

70

$30,000 to $34,999

755

136

152

403

65

$35,000 to $39,999

618

109

82

367

61

$40,000 to $44,999

509

103

99

254

52

$45,000 to $49,999

320

57

60

176

27

$50,000 to $54,999

325

59

53

162

52

$55,000 to $59,999

202

40

42

85

37

$60,000 to $64,999

158

47

30

71

11

$65,000 to $69,999

106

22

14

54

16

$70,000 to $74,999

113

18

18

65

11

$75,000 to $79,999

101

23

13

52

13

$80,000 to $84,999

73

7

18

37

11

$85,000 to $89,999

42

12

5

14

11

$90,000 to $94,999

57

9

4

32

11

$95,000 to $99,999

13

6

2

6

–

221

51

30

105

36

$21,509

$22,391

$21,184

$21,209

$22,112

31,966

34,998

32,371

31,025

35,609

$100,000 or more Median income Men with income Men working full-time Percent working full-time

45.2%

42.7%

41.2%

47.3%

45.3%

100.0%

100.0%

100.0%

100.0%

100.0%

PERCENT DISTRIBUTION TOTAL BLACK MEN

Without income

17.2

19.4

17.8

16.4

With income

82.8

80.6

82.2

83.6

15.7 84.3

Under $15,000

29.1

27.7

30.3

29.5

28.0

$15,000 to $24,999

17.5

16.2

16.3

18.3

17.5

$25,000 to $49,999

24.7

24.0

24.9

25.3

22.1

$50,000 to $74,999

7.4

8.1

7.2

6.7

10.2

$75,000 or more

4.2

4.7

3.3

3.8

6.6

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

164 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.17

Men by Income and Region, 2002: Hispanic Men

(number and percent distribution of Hispanic men aged 15 or older by income and region, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003)

TOTAL HISPANIC MEN

Without income With income Under $5,000

total

Northeast

Midwest

South

West

14,353

2,001

1,297

5,075

5,980

1,729

284

155

569

721

12,624

1,717

1,142

4,506

5,259 390

988

166

87

345

$5,000 to $9,999

1,407

222

112

538

536

$10,000 to $14,999

1,816

242

144

616

814

$15,000 to $19,999

1,813

178

172

735

730

$20,000 to $24,999

1,537

193

136

542

665

$25,000 to $29,999

1,178

158

115

420

486

$30,000 to $34,999

866

117

83

330

337

$35,000 to $39,999

660

91

67

198

304

$40,000 to $44,999

496

50

61

157

228

$45,000 to $49,999

373

65

30

105

174

$50,000 to $54,999

376

54

40

132

150

$55,000 to $59,999

190

27

16

57

89

$60,000 to $64,999

207

40

21

71

76 45

$65,000 to $69,999

97

18

10

24

$70,000 to $74,999

92

11

12

38

29

$75,000 to $79,999

109

19

6

51

34

$80,000 to $84,999

68

10

4

17

37

$85,000 to $89,999

36

3

2

11

20

$90,000 to $94,999

35

7

4

11

13

$95,000 to $99,999 $100,000 or more

28

7

2

10

11

251

40

19

98

93

$20,702

$20,951

$21,547

$20,125

$20,920

26,137

28,481

26,299

25,279

26,260

Median income Men with income Men working full-time Percent working full-time

57.0%

52.1%

57.4%

58.0%

57.8%

100.0%

100.0%

100.0%

100.0%

100.0%

PERCENT DISTRIBUTION TOTAL HISPANIC MEN

Without income

12.0

14.2

12.0

11.2

With income

88.0

85.8

88.0

88.8

12.1 87.9

Under $15,000

29.3

31.5

26.4

29.5

29.1

$15,000 to $24,999

23.3

18.5

23.7

25.2

23.3

$25,000 to $49,999

24.9

24.0

27.4

23.8

25.6

$50,000 to $74,999

6.7

7.5

7.6

6.3

6.5

$75,000 or more

3.7

4.3

2.9

3.9

3.5

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 165

Table 2.18

Men by Income and Region, 2002: Non-Hispanic White Men

(number and percent distribution of non-Hispanic white men aged 15 or older by income and region, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, yearround; men in thousands as of 2003) total

Northeast

Midwest

South

West

76,722

15,686

20,451

25,627

14,957

4,576

951

1,055

1,650

919

72,146

14,735

19,396

23,977

14,038

Under $5,000

5,250

1,043

1,566

1,599

1,043

$5,000 to $9,999

5,088

988

1,362

1,776

962

$10,000 to $14,999

6,142

1,253

1,520

2,225

1,145

$15,000 to $19,999

5,707

1,196

1,522

1,935

1,054

$20,000 to $24,999

5,766

1,119

1,705

1,916

1,027

$25,000 to $29,999

5,218

1,096

1,461

1,775

886

$30,000 to $34,999

5,301

991

1,498

1,854

958

$35,000 to $39,999

4,650

880

1,286

1,617

865

$40,000 to $44,999

4,168

848

1,220

1,315

786

$45,000 to $49,999

3,190

647

864

1,048

631

TOTAL NON-HISPANIC WHITE MEN

Without income With income

$50,000 to $54,999

3,526

708

966

1,209

641

$55,000 to $59,999

2,135

449

574

700

413

$60,000 to $64,999

2,264

459

615

718

471

$65,000 to $69,999

1,656

354

429

481

391

$70,000 to $74,999

1,639

384

404

522

329

$75,000 to $79,999

1,500

329

314

513

344

$80,000 to $84,999

1,199

255

322

343

278

$85,000 to $89,999

774

196

180

229

171

$90,000 to $94,999

723

165

183

193

181

$95,000 to $99,999

547

125

128

156

137

5,703

1,250

1,276

1,853

1,325

$32,034

$32,432

$31,438

$31,465

$34,622

45,153

47,307

42,406

42,321

49,397

$100,000 or more Median income Men with income Men working full-time Percent working full-time

54.8%

53.6%

55.9%

55.8%

53.1%

100.0%

100.0%

100.0%

100.0%

100.0%

6.0

6.1

5.2

6.4

6.1

94.0

93.9

94.8

93.6

93.9

PERCENT DISTRIBUTION TOTAL NON-HISPANIC WHITE MEN

Without income With income Under $15,000

21.5

20.9

21.7

21.9

21.1

$15,000 to $24,999

15.0

14.8

15.8

15.0

13.9

$25,000 to $49,999

29.4

28.4

30.9

29.7

27.6

$50,000 to $74,999

14.6

15.0

14.6

14.2

15.0

$75,000 or more

13.6

14.8

11.8

12.8

16.3

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

166 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Men in the Suburbs Have the Highest Incomes Those in the suburbs of the largest metropolitan areas make the most.

Not surprisingly, men living outside the central cities of the nation’s major metropolitan areas (in other words, in the suburbs) have the highest incomes. Their median income stood at $34,639 in 2002. Those with full-time jobs have a median income of $47,317. Fully 16 percent of men living in the suburbs of metropolitan areas with populations of at least 1 million have incomes of $75,000 or more. At the other extreme, men living in nonmetropolitan areas have the lowest incomes, a median of just $24,963 in 2002. Those who work full-time have a median income of $34,622— only 76 percent as much as their suburban counterparts. The cost of living in nonmetropolitan areas is often lower than in the suburbs, making the gap in spending power smaller than the gap in income. ■ As technological advances allow more people to work from remote locations, the gap in incomes by metropolitan status may diminish.

Men in nonmetropolitan areas have the lowest incomes (median income of men aged 15 or older who work full-time, year-round, by metropolitan status, 2002)

$45,312 $40,000

$36,657

$34,622

$20,000

$0

central cities

suburbs

nonmetropolitan areas

AMERICAN INCOMES: Demographics of Who Has Money 167

Table 2.19

Men by Income and Metropolitan Residence, 2002

(number and percent distribution of men aged 15 or older by income and metropolitan residence, 2002; median income of men with income and of men working full-time, year-round; percent working full-time, year-round; men in thousands as of 2003) in metropolitan area

total

total

total

1 million+

< 1 million

total

1 million+

not in metropolitan < 1 million area

108,814

88,515

31,320

20,321

10,999

57,196

39,689

17,507

9,026

7,548

3,196

2,289

907

4,353

3,138

1,215

1,477

99,788

80,967

28,124

18,032

10,092

52,843

36,551

16,292

18,821

Under $5,000

7,760

6,142

2,174

1,352

823

3,968

2,757

1,211

1,619

$5,000 to $9,999

8,301

6,424

2,843

1,846

996

3,581

2,376

1,205

1,877

$10,000 to $14,999

9,473

7,453

3,059

1,973

1,086

4,394

2,841

1,553

2,021

$15,000 to $19,999

9,063

7,104

2,889

1,902

986

4,216

2,739

1,477

1,958

$20,000 to $24,999

8,706

6,758

2,551

1,611

940

4,207

2,781

1,426

1,948

$25,000 to $29,999

7,500

5,883

2,126

1,356

771

3,756

2,479

1,278

1,617

$30,000 to $34,999

7,288

5,723

2,003

1,247

756

3,720

2,417

1,302

1,566

$35,000 to $39,999

6,240

4,918

1,686

1,031

656

3,233

2,145

1,087

1,322

$40,000 to $44,999

5,406

4,342

1,384

859

525

2,958

2,023

934

1,064

$45,000 to $49,999

4,079

3,348

1,049

616

433

2,299

1,604

694

731

$50,000 to $54,999

4,426

3,697

1,073

673

400

2,624

1,796

828

729

$55,000 to $59,999

2,622

2,180

621

405

216

1,558

1,102

457

442

inside central cities TOTAL MEN

Without income With income

outside central cities

20,298

$60,000 to $64,999

2,788

2,385

670

452

217

1,716

1,244

472

403

$65,000 to $69,999

1,947

1,703

472

308

164

1,230

898

332

244

$70,000 to $74,999

1,955

1,764

453

292

162

1,311

967

345

191

$75,000 to $79,999

1,814

1,630

454

313

141

1,175

887

288

183

$80,000 to $84,999

1,446

1,296

369

250

119

927

717

210

150

$85,000 to $89,999

909

802

226

151

75

575

433

142

107

$90,000 to $94,999

877

778

209

139

68

570

438

132

99

$95,000 to $99,999

635

585

150

93

57

435

338

98

49

6,556

6,052

1,662

1,164

498

4,390

3,571

820

503

$29,238

$30,457

$26,059

$25,957

$26,267

$32,254

$34,639

$29,982

$24,963

Men working full-time 40,507

41,724

36,657

36,548

36,828

45,312

47,317

40,225

34,622

$100,000 or more Median income Men with income

Percent working full-time 54.0%

54.9%

52.0%

51.9%

52.2%

56.5%

57.3%

54.6%

50.2%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

8.3

8.5

10.2

11.3

8.2

7.6

7.9

6.9

7.3

91.7

91.5

89.8

88.7

91.8

92.4

92.1

93.1

92.7

PERCENT DISTRIBUTION TOTAL MEN

Without income With income Under $15,000

23.5

22.6

25.8

25.4

26.4

20.9

20.1

22.7

27.2

$15,000 to $24,999

16.3

15.7

17.4

17.3

17.5

14.7

13.9

16.6

19.2

$25,000 to $49,999

28.0

27.4

26.3

25.1

28.6

27.9

26.9

30.2

31.0

$50,000 to $74,999

12.6

13.3

10.5

10.5

10.5

14.8

15.1

13.9

9.9

$75,000 or more

11.2

12.6

9.8

10.4

8.7

14.1

16.1

9.7

5.4

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

168 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Most Men Have Modest Earnings Only 13 percent of working men make $75,000 or more. Among the nation’s 109 million men in 2002, 59 million (54 percent) work full-time, yearround. Only 10 million work part-time. Among those with full-time, year-round jobs, median earnings stood at $39,429 in 2002. Only 17 percent earn $75,000 or more, while the largest share (39 percent) earn between $25,000 and $50,000. Asian men are slightly more likely than average to work full-time, year-round, with 56 percent doing so. The earnings of those who do stood at $41,741 in 2002. This is slightly lower than the $42,478 median earnings of non-Hispanic white men who work full-time, year-round. Among black men, only 45 percent work full-time, year-round. Those who do had median earnings far below Asians or non-Hispanic whites, at $31,447 in 2002. The median earnings of Hispanic men who work full-time, year-round are even lower than those of blacks, at $25,971. This median is just 61 percent as high as that of non-Hispanic whites. ■ The earnings of black men will rise in the years ahead along with their educational attainment. The earnings of Hispanic men are not likely to rise until immigrants become a smaller share of the Hispanic population.

Most men earn less than $50,000 per year (percent distribution of men aged 15 or older who work full-time, year-round, by earnings, 2002)

17% $75,000 or moree

8% under $15,000 a 17% $15,000–$24,999 b

19% $50,000–$74,999

c 39% $25,000–$49,999

AMERICAN INCOMES: Demographics of Who Has Money 169

Table 2.20

Men by Earnings and Work Experience, 2002: Total Men

(number and percent distribution of men aged 15 or older with earnings by work experience and median earnings, 2002; men in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

Total men with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999

80,500 6,960 5,055 5,777 6,383

70,148 2,571 2,671 4,411 5,655

58,761 711 916 2,800 4,371

10,352 4,390 2,383 1,366 728

4,533 737 1,327 933 503

$20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999

6,761 6,138 6,423 5,362 4,864 3,590

6,356 5,932 6,219 5,258 4,779 3,540

5,370 5,201 5,534 4,796 4,309 3,309

406 206 204 105 85 49

285 145 148 67 63 37

$50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999

4,161 2,215 2,642 1,589 1,827 1,765

4,081 2,192 2,601 1,554 1,792 1,732

3,765 2,089 2,407 1,446 1,726 1,643

80 23 41 34 35 33

45 16 35 26 23 13

$80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

1,303 688 807 491 5,700

1,285 673 802 491 5,552

1,219 641 756 477 5,276

18 14 4 – 148

16 7 1 – 105

$31,647

$35,841

$39,429

$6,317

$10,712

Median earnings

PERCENT DISTRIBUTION

Total men with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0%

100.0%

100.0%

100.0%

100.0%

22.1 16.3 32.8 15.4 13.4

13.8 17.1 36.7 17.4 15.0

7.5 16.6 39.4 19.5 17.0

78.6 11.0 6.3 2.1 2.1

66.1 17.4 10.1 3.2 3.1

Note: Earnings include wages and salary only. (–) means less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

170 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.21

Men by Earnings and Work Experience, 2002: Asian Men

(number and percent distribution of Asian men aged 15 or older with earnings by work experience and median earnings, 2002; men in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

Asian men with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999

3,517 271 201 246

3,057 86 100 175

2,633 27 36 119

460 185 101 72

202 28 54 49

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

260 314 206 274 227 187

224 284 205 263 225 184

169 252 182 238 209 170

36 30 1 11 4 3

24 19 – 9 4 3

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

148 153 67 135 69 99

146 152 66 135 68 94

141 136 64 130 63 91

2 – 1 – 1 4

2 – 1 – 1 4

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

97 92 52 48 39 331

97 90 52 48 39 326

89 87 45 40 39 307

– 3 – – – 5

– 3 – – – 2

$34,338

$38,582

$41,741

$6,608

$11,435

Median earnings

PERCENT DISTRIBUTION

Asian men with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 20.4 16.3 29.6 14.9

100.0% 11.8 16.6 33.5 16.8

100.0% 6.9 16.0 35.7 18.4

100.0 77.8 14.3 4.6 1.3

100.0% 64.9 21.3 8.9 3.0

18.7

21.3

23.1

1.7

2.5

Note: Earnings include wages and salary only. The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 171

Table 2.22

Men by Earnings and Work Experience, 2002: Black Men

(number and percent distribution of black men aged 15 or older with earnings by work experience and median earnings, 2002; men in thousands as of 2003) worked full-time

Black men with earnings

worked part-time

total

total

year-round

total

year-round

7,878

6,749

5,503

1,129

482

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

837 618 722 850 848 725

305 374 592 769 811 694

46 129 386 638 669 630

533 245 129 82 36 31

75 153 97 67 25 15

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

676 573 462 301 318 155

654 567 452 294 313 153

597 545 408 280 294 147

22 7 11 8 5 2

16 6 6 7 1 –

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

141 108 113 88 73 39

138 106 110 87 73 37

122 102 108 83 65 36

3 1 4 1 1 2

3 1 1 – 1 –

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

38 14 180

38 14 172

38 14 165

– – 8

– – 6

$25,302

$27,764

$31,447

$5,544

$10,453

Median earnings

PERCENT DISTRIBUTION

Black men with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 27.6

100.0% 18.8

100.0% 10.2

100.0% 80.3

100.0% 67.4

21.6 34.7 10.6 5.5

23.4 39.4 12.1 6.2

23.8 44.7 14.0 7.3

10.5 7.0 1.3 1.1

19.1 10.4 1.2 1.5

Note: Earnings include wages and salary only. The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

172 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.23

Men by Earnings and Work Experience, 2002: Hispanic Men

(number and percent distribution of Hispanic men aged 15 or older with earnings by work experience and median earnings, 2002; men in thousands as of 2003) worked full-time

Hispanic men with earnings

worked part-time

total

total

year-round

total

year-round

11,131

9,937

8,176

1,194

614

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

807 927 1,537 1,648 1,425 1,106

379 582 1,330 1,561 1,374 1,087

100 237 941 1,318 1,223 985

428 345 207 87 50 20

91 207 161 63 39 17

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

830 639 451 372 359 184

818 628 446 367 350 181

747 566 416 347 326 176

12 11 5 5 9 2

11 7 2 1 3 1

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

189 90 87 113 63 32

185 89 84 113 63 32

180 82 82 98 60 32

4 1 3 – – –

4 1 3 – – –

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

34 18 221

34 18 217

32 16 210

– – 5

– – 2

$21,607

$23,394

$25,971

$7,087

$10,201

Median earnings

PERCENT DISTRIBUTION

Hispanic men with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 29.4

100.0% 23.1

100.0% 15.6

100.0% 82.1

100.0% 74.8

27.6 30.5 8.2 4.3

29.5 33.7 8.9 4.8

31.1 37.4 10.3 5.5

11.5 4.4 1.6 0.4

16.6 6.2 2.0 0.3

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 173

Table 2.24

Men by Earnings and Work Experience, 2002: Non-Hispanic White Men

(number and percent distribution of non-Hispanic white men aged 15 or older with earnings by work experience and median earnings, 2002; men in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

57,382 4,952 3,247 3,287

49,901 1,745 1,580 2,337

42,070 522 510 1,374

7,481 3,207 1,667 950

3,203 541 899 626

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

3,566 4,131 4,062 4,579 3,870 3,736

3,060 3,842 3,903 4,422 3,786 3,669

2,201 3,192 3,365 3,896 3,432 3,296

506 289 159 156 83 66

336 202 115 109 52 50

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

2,754 3,299 1,783 2,163 1,311 1,511

2,718 3,232 1,765 2,130 1,281 1,487

2,528 2,976 1,677 1,964 1,191 1,432

35 67 18 34 30 24

27 40 14 28 23 15

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

1,467 1,059 561 680 420 4,948

1,436 1,045 549 675 419 4,819

1,372 993 524 638 408 4,580

32 15 12 4 – 129

13 12 7 1 – 93

$35,802

$40,243

$42,478

$6,256

$10,825

Non-Hispanic white men with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999

Median earnings

PERCENT DISTRIBUTION

Non-Hispanic white men with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 20.0 13.4 33.1 17.5

100.0% 11.3 13.8 37.1 19.8

100.0% 5.7 12.8 39.3 22.0

100.0% 77.9 10.6 6.7 2.3

100.0% 64.5 16.8 11.0 3.7

15.9

17.9

20.2

2.6

3.9

Note: Earnings include wages and salary only. The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

174 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Men’s Earnings Rise with Education Those with professional degrees earn the most. Among men aged 25 or older who work full-time, the median earnings of those with a professional degree stood at more than $100,000 in 2002, more than double the $41,152 median earnings of all men. Earnings rise in lock step with education—from a low of $20,919 for men who did not finish ninth grade, to $33,206 for high school graduates, to $61,700 for those with a bachelor’s degree or more. The men with the highest earnings are those aged 45 to 64 with a professional degree. From 75 to 77 percent had earnings of $100,000 or more in 2002. (The Census Bureau calculates median earnings only up to $100,000.) Among men with a bachelor’s degree, median earnings rise above $50,000 beginning in the 35-to-44 age group. Education pays off almost immediately. Among men aged 25 to 34 who work fulltime, the median earnings of those with a bachelor’s degree are 56 percent higher than the median earnings of men with no more than a high school diploma—$46,445 versus $29,787 in 2002. ■ Most of today’s young men go to college, but fewer than half earn a degree. Fortunately, even a few years of college experience pays off in earnings.

A college diploma continues to be worth its cost (median earnings of men aged 25 or older who work full-time, year-round, by educational attainment, 2002)

$100,000 $83,305 $80,000

$67,281 $56,077 $40,000

$20,919

$25,903

$40,851

$42,856

some college

associate’s degree

$33,206

$0

less than 9th grade

9th–12th grade, no diploma

high school graduate

bachelor’s degree

master’s degree

doctoral degree

professional degree

AMERICAN INCOMES: Demographics of Who Has Money 175

Table 2.25

Men Who Work Full-Time by Earnings and Education, 2002: Total Men

(number and percent distribution of men aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Total men working full-time

54,108

2,154

3,680

16,005

9,603

4,399

18,267

11,829

4,065

1,308

1,065

Under $5,000

621

28

65

246

120

39

123

98

17

2

6

$5,000 to $9,999

615

93

100

227

76

24

92

59

23

7

3

$10,000 to $14,999

2,092

357

362

723

312

90

248

183

45

8

11

$15,000 to $19,999

3,408

487

554

1,383

447

142

394

305

74

7

9

$20,000 to $24,999

4,501

430

610

1,874

699

318

570

444

97

12

18

$25,000 to $29,999

4,668

231

559

1,922

922

373

661

534

103

10

15

$30,000 to $34,999

5,149

172

411

2,034

968

431

1,133

885

175

33

39

$35,000 to $39,999

4,508

104

309

1,577

1,018

417

1,084

804

199

42

39

$40,000 to $44,999

4,110

73

196

1,352

914

459

1,116

821

208

50

37

$45,000 to $49,999

3,205

46

128

928

720

394

988

705

218

29

35

$50,000 to $54,999

3,698

36

109

1,047

814

416

1,276

903

283

46

44

$55,000 to $59,999

2,051

18

60

571

397

197

809

546

200

21

41

$60,000 to $64,999

2,393

24

41

536

438

242

1,113

716

295

56

46

$65,000 to $69,999

1,438

5

20

251

278

169

716

510

149

23

34

$70,000 to $74,999

1,701

4

39

340

278

144

897

571

227

53

45

$75,000 to $79,999

1,641

13

38

201

267

123

999

619

252

68

60

$80,000 to $84,999

1,205

6

20

173

197

96

711

440

170

45

58

$85,000 to $89,999

634

–

6

96

106

47

377

204

117

24

32

$90,000 to $94,999

745

4

3

84

95

54

503

286

137

46

34

$95,000 to $99,999

472

–

1

38

57

25

350

201

94

18

37

5,248

21

47

399

479

198

4,105

1,992

982

710

421

$100,000 or more Median earnings

$41,152 $20,919 $25,903 $33,206 $40,851 $42,856 $61,700 $56,077 $67,281 $100,000 $83,305

PERCENT DISTRIBUTION

Total men working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

6.2

22.2

14.3

7.5

5.3

3.5

2.5

2.9

2.1

1.3

1.9

$15,000 to $24,999

14.6

42.6

31.6

20.3

11.9

10.5

5.3

6.3

4.2

1.5

2.5

$25,000 to $49,999

40.0

29.1

43.6

48.8

47.3

47.1

27.3

31.7

22.2

12.5

15.5

$50,000 to $74,999

20.8

4.0

7.3

17.2

23.0

26.6

26.3

27.4

28.4

15.2

19.7

$75,000 or more

18.4

2.0

3.1

6.2

12.5

12.3

38.6

31.6

43.1

69.6

60.3

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

176 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.26

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 25 to 34

(number and percent distribution of men aged 25 to 34 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Men aged 25 to 34 working full-time

14,075

638

1,156

4,264

2,620

1,161

4,236

3,215

717

199

Under $5,000

115

3

23

50

21

8

9

9

–

–

105 –

$5,000 to $9,999

247

42

42

94

39

10

19

15

4

–

– 1

$10,000 to $14,999

724

130

140

244

128

33

49

37

10

1

$15,000 to $19,999

1,229

169

220

514

164

42

121

106

14

1

–

$20,000 to $24,999

1,533

133

208

630

251

114

197

163

30

2

3

$25,000 to $29,999

1,624

54

184

613

390

134

248

219

24

4

1

$30,000 to $34,999

1,616

38

109

596

336

138

398

353

32

5

9

$35,000 to $39,999

1,312

25

65

378

299

127

418

322

62

19

15

$40,000 to $44,999

1,139

18

54

331

233

120

382

290

65

23

3

$45,000 to $49,999

838

9

31

175

215

107

302

247

49

4

2

$50,000 to $54,999

816

4

25

194

165

91

336

268

52

11

3

$55,000 to $59,999

452

1

8

104

84

41

214

180

27

–

6

$60,000 to $64,999

534

5

8

78

83

68

292

200

69

19

3

$65,000 to $69,999

282

1

3

39

33

32

176

135

28

5

8

$70,000 to $74,999

302

2

11

47

43

22

178

138

25

4

10

$75,000 to $79,999

243

1

8

21

27

25

160

103

50

4

2

$80,000 to $84,999

205

2

5

33

27

20

118

77

34

3

3

$85,000 to $89,999

90

–

1

12

9

4

63

37

14

7

6

$90,000 to $94,999

113

–

1

13

7

12

80

47

23

9

1

$95,000 to $99,999

66

–

–

7

10

–

49

38

7

–

4

588

2

6

86

53

13

428

231

97

75

24

$100,000 or more Median earnings

$34,665 $19,042 $22,744 $29,787 $34,295 $37,422 $49,390 $46,445 $57,486 $72,370 $66,744

PERCENT DISTRIBUTION

Men aged 25 to 34 working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

7.7

27.4

17.7

9.1

7.2

4.4

1.8

1.9

2.0

0.5

$15,000 to $24,999

19.6

47.3

37.0

26.8

15.8

13.4

7.5

8.4

6.1

1.5

2.9

$25,000 to $49,999

46.4

22.6

38.3

49.1

56.2

53.9

41.3

44.5

32.4

27.6

28.6

$50,000 to $74,999

17.0

2.0

4.8

10.8

15.6

21.9

28.2

28.6

28.0

19.6

28.6

9.3

0.8

1.8

4.0

5.1

6.4

21.2

16.6

31.4

49.2

38.1

$75,000 or more

1.0

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 177

Table 2.27

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 35 to 44

(number and percent distribution of men aged 35 to 44 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Men aged 35 to 44 working full-time

16,639

636

1,154

5,191

2,791

1,458

5,409

3,621

1,160

370

259

Under $5,000

146

2

15

54

28

18

30

23

5

–

2

$5,000 to $9,999

129

23

30

47

6

6

16

14

2

–

–

$10,000 to $14,999

590

102

107

232

56

30

64

49

13

–

2

$15,000 to $19,999

939

148

165

388

102

42

93

68

22

2

–

$20,000 to $24,999

1,384

136

199

618

191

90

149

128

15

5

3

$25,000 to $29,999

1,316

64

154

603

235

105

155

117

31

3

4

$30,000 to $34,999

1,581

48

141

722

281

137

250

191

40

9

9

$35,000 to $39,999

1,400

37

107

507

289

156

302

229

55

9

10

$40,000 to $44,999

1,232

21

68

422

296

155

270

186

59

12

14

$45,000 to $49,999

1,030

9

40

332

222

136

291

217

52

9

12

$50,000 to $54,999

1,171

13

41

338

238

143

399

303

64

15

16

$55,000 to $59,999

674

7

21

202

123

62

259

186

63

5

6

$60,000 to $64,999

744

10

16

204

132

64

319

217

83

9

12

$65,000 to $69,999

497

2

14

97

108

71

205

140

54

7

4

$70,000 to $74,999

559

–

5

114

91

37

312

197

80

17

17

$75,000 to $79,999

520

2

12

65

71

48

324

207

82

14

20

$80,000 to $84,999

364

–

3

43

67

22

228

161

38

9

19

$85,000 to $89,999

216

–

–

40

37

22

116

76

30

5

5

$90,000 to $94,999

244

2

–

25

30

19

168

105

45

13

6

$95,000 to $99,999 $100,000 or more Median earnings

166

–

–

17

21

11

117

68

32

6

12

1,737

8

17

120

169

82

1,340

740

293

219

88

$42,211 $21,335 $26,451 $34,204 $42,401 $44,277 $66,836 $61,324 $70,809 $100,000 $79,280

PERCENT DISTRIBUTION

Men aged 35 to 44 working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

5.2

20.0

13.2

6.4

3.2

3.7

2.0

2.4

1.7

–

1.5

14.0

44.7

31.5

19.4

10.5

9.1

4.5

5.4

3.2

1.9

1.2

$25,000 to $49,999

39.4

28.1

44.2

49.8

47.4

47.3

23.4

26.0

20.4

11.4

18.9

$50,000 to $74,999

21.9

5.0

8.4

18.4

24.8

25.9

27.6

28.8

29.7

14.3

21.2

$75,000 or more

19.5

1.9

2.8

6.0

14.2

14.0

42.4

37.5

44.8

71.9

57.9

$15,000 to $24,999

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

178 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.28

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 45 to 54

(number and percent distribution of men aged 45 to 54 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Men aged 45 to 54 working full-time

14,608

462

772

4,157

2,676

1,185

5,355

3,241

1,305

434

375

Under $5,000

178

9

14

81

33

3

38

37

1

–

–

$5,000 to $9,999

127

10

13

50

21

7

23

19

2

2

1

$10,000 to $14,999

423

77

64

139

73

7

63

53

6

2

4

$15,000 to $19,999

702

97

105

274

115

32

79

66

9

–

4

$20,000 to $24,999

980

96

132

380

177

66

131

86

35

3

7

$25,000 to $29,999

1,063

52

132

468

189

74

148

108

32

3

4

$30,000 to $34,999

1,222

47

85

492

227

98

274

189

63

9

13

$35,000 to $39,999

1,180

22

86

459

279

101

233

162

51

10

9

$40,000 to $44,999

1,135

11

43

383

260

121

316

244

54

7

11

$45,000 to $49,999

867

11

22

299

179

106

252

165

64

10

13

$50,000 to $54,999

1,088

8

21

325

257

134

343

224

91

16

12

$55,000 to $59,999

602

5

13

166

131

74

215

132

63

9

12

$60,000 to $64,999

719

3

9

170

127

71

339

214

98

17

10

$65,000 to $69,999

459

2

3

77

94

48

234

165

53

8

8

$70,000 to $74,999

496

2

8

104

89

59

234

149

54

12

17

$75,000 to $79,999

525

7

6

80

90

40

304

188

70

31

15

$80,000 to $84,999

434

–

3

55

70

48

258

149

75

13

19

$85,000 to $89,999

203

–

2

26

42

15

119

54

46

5

14

$90,000 to $94,999

239

–

–

21

35

12

171

89

56

17

9

$95,000 to $99,999

157

–

–

8

21

8

120

64

42

9

6

1,804

3

11

102

164

64

1,461

682

341

250

187

$100,000 or more Median earnings

$46,300 $21,430 $26,488 $36,496 $42,991 $47,788 $69,616 $61,831 $71,622 $100,000 $100,000

PERCENT DISTRIBUTION

Men aged 45 to 54 working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

5.0

20.8

11.8

6.5

4.7

1.4

2.3

3.4

0.7

0.9

1.3

$15,000 to $24,999

11.5

41.8

30.7

15.7

10.9

8.3

3.9

4.7

3.4

0.7

2.9

$25,000 to $49,999

37.4

31.0

47.7

50.5

42.4

42.2

22.8

26.8

20.2

9.0

13.3

$50,000 to $74,999

23.0

4.3

7.0

20.3

26.1

32.6

25.5

27.3

27.5

14.3

15.7

$75,000 or more

23.0

2.2

2.8

7.0

15.8

15.8

45.4

37.8

48.3

74.9

66.7

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 179

Table 2.29

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 55 to 64

(number and percent distribution of men aged 55 to 64 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

7,349

319

480

2,009

1,271

527

2,743

1,480

771

235

122

5

8

43

28

10

28

22

5

1

–

76

12

9

28

7

2

19

5

9

2

2

$10,000 to $14,999

256

36

42

72

35

17

53

31

13

5

4

$15,000 to $19,999

429

50

55

180

51

14

79

47

23

3

5

$20,000 to $24,999

469

55

55

184

63

40

72

51

15

2

5

$25,000 to $29,999

561

52

80

200

89

52

88

71

14

–

3

$30,000 to $34,999

607

35

57

193

101

50

171

119

35

8

9

$35,000 to $39,999

529

17

42

203

128

29

111

76

25

4

5

$40,000 to $44,999

518

18

27

197

102

54

119

80

26

6

7

$45,000 to $49,999

421

10

28

116

101

41

124

70

49

1

6

$50,000 to $54,999

536

8

13

162

134

44

175

93

68

2

12

$55,000 to $59,999

276

3

16

79

51

21

105

43

43

2

16

$60,000 to $64,999

343

5

7

76

84

36

137

70

42

10

15

$65,000 to $69,999

168

–

–

34

40

17

76

58

10

3

4

$70,000 to $74,999

289

–

13

70

43

26

135

71

57

5

1

$75,000 to $79,999

309

3

7

29

73

11

187

105

47

16

18

$80,000 to $84,999

180

4

9

38

32

6

91

45

16

14

16

$85,000 to $89,999

111

–

–

16

16

6

73

36

28

7

3

$90,000 to $94,999

126

2

3

17

19

11

73

45

11

5

12

64

–

1

2

–

6

56

29

10

3

14

963

4

10

69

74

35

771

312

226

136

97

master’s professional degree degree

doctoral degree

Men aged 55 to 64 working full-time Under $5,000 $5,000 to $9,999

$95,000 to $99,999 $100,000 or more Median earnings

257

$45,995 $25,029 $29,061 $36,651 $46,121 $44,020 $70,353 $61,312 $70,536 $100,000 $82,644

PERCENT DISTRIBUTION Men aged 55 to 64 working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

6.2

16.6

12.3

7.1

5.5

5.5

3.6

3.9

3.5

3.4

$15,000 to $24,999

12.2

32.9

22.9

18.1

9.0

10.2

5.5

6.6

4.9

2.1

2.3 3.9

$25,000 to $49,999

35.9

41.4

48.8

45.2

41.0

42.9

22.3

28.1

19.3

8.1

11.7

$50,000 to $74,999

21.9

5.0

10.2

21.0

27.7

27.3

22.9

22.6

28.5

9.4

18.7

$75,000 or more

23.9

4.1

6.3

8.5

16.8

14.2

45.6

38.6

43.8

77.0

62.3

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

180 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.30

Men Who Work Full-Time by Earnings and Education, 2002: Men Aged 65 or Older

(number and percent distribution of men aged 65 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Men aged 65 or older working full-time

1,436

99

117

384

245

68

524

272

113

70

69

Under $5,000

60

10

5

17

9

–

18

8

5

–

4

$5,000 to $9,999

36

5

5

7

4

–

14

6

6

3

–

$10,000 to $14,999

98

11

9

36

20

3

19

15

4

–

–

$15,000 to $19,999

109

22

10

26

16

12

24

18

5

–

–

$20,000 to $24,999

134

10

17

62

17

8

20

16

3

1

1

$25,000 to $29,999

104

8

9

38

20

7

22

17

2

–

2

$30,000 to $34,999

123

4

19

31

22

7

40

34

4

2

–

$35,000 to $39,999

87

4

8

28

22

4

20

15

5

–

–

$40,000 to $44,999

85

4

4

18

23

8

28

20

4

2

2

$45,000 to $49,999

50

8

7

6

3

5

20

8

4

5

3

$50,000 to $54,999

86

3

9

28

19

3

23

15

7

–

–

$55,000 to $59,999

47

2

1

20

8

–

16

5

6

4

1

$60,000 to $64,999

53

2

1

8

11

4

26

16

3

1

6

$65,000 to $69,999

32

–

–

4

3

–

25

11

5

–

9

$70,000 to $74,999

56

–

2

5

12

–

37

14

10

14

–

$75,000 to $79,999

44

–

6

8

6

–

25

14

3

2

6

$80,000 to $84,999

21

–

–

2

2

–

17

7

5

5

–

$85,000 to $89,999

14

–

3

2

1

–

8

3

–

–

4

$90,000 to $94,999

23

–

–

9

3

–

11

1

3

1

6

$95,000 to $99,999

19

–

1

4

6

1

8

3

3

–

1

156

4

3

22

18

4

105

26

25

30

24

– $59,615 $40,974 $57,452

–

–

$100,000 or more Median earnings

$36,963 $20,261 $30,679 $30,505 $36,581

PERCENT DISTRIBUTION

Men aged 65 or older working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

13.5

26.3

16.2

15.6

13.5

4.4

9.7

10.7

13.3

4.3

5.8

$15,000 to $24,999

16.9

32.3

23.1

22.9

13.5

29.4

8.4

12.5

7.1

1.4

1.4

$25,000 to $49,999

31.3

28.3

40.2

31.5

36.7

45.6

24.8

34.6

16.8

12.9

10.1

$50,000 to $74,999

19.1

7.1

11.1

16.9

21.6

10.3

24.2

22.4

27.4

27.1

23.2

$75,000 or more

19.3

4.0

11.1

12.2

14.7

7.4

33.2

19.9

34.5

54.3

59.4

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 181

Education Boosts Earnings Regardless of Race Although Asians are the best-educated, the earnings of non-Hispanic white men are higher. Education lifts earnings in every racial and ethnic group. Among full-time workers, Asian men with at least a college degree earned $61,351 in 2002, nearly double the $30,697 of Asian men with only a high school diploma. Fully 57 percent of Asian men have a bachelor’s degree. Non-Hispanic white men are less likely than Asians to have a bachelor’s degree (38 percent), but among those who do, earnings exceed those of their Asian counterparts. NonHispanic white men with at least a bachelor’s degree earned a median of $64,773 in 2002. Twenty-one percent of black men have a college degree. Their median earnings of $46,861 in 2002 were 72 percent greater than the $27,240 median earnings of black men with a high school diploma only. Hispanic men are least likely to have a college degree. Among the 13 percent who graduated from college, median earnings stood at $47,325, slightly above those of their black counterparts but far below the median for Asians or non-Hispanic whites. Much of the earnings gap between blacks and Hispanics versus Asians and non-Hispanic whites can be explained only by the more limited job opportunities available to blacks and Hispanics. ■ The incomes of educated blacks and Hispanics should rise in the years ahead as they gain job experience and their career opportunities expand.

Among the college-educated, non-Hispanic white men earn the most (median earnings of men aged 25 or older with at least a bachelor’s degree who work full-time, year-round, by race and Hispanic origin, 2002)

$64,773

$61,351 $50,000

$46,861

$47,325

black

Hispanic

$25,000

$0

Asian

182 AMERICAN INCOMES: Demographics of Who Has Money

non-Hispanic white

MEN’S INCOME, 2002

Table 2.31

Men Who Work Full-Time by Earnings and Education, 2002: Asian Men

(number and percent distribution of Asian men aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Asian men working full-time

2,468

93

108

422

277

150

1,418

781

412

95

130

Under $5,000

19

2

3

1

5

–

8

8

–

–

–

$5,000 to $9,999

26

6

–

4

3

2

12

8

4

–

–

$10,000 to $14,999

104

19

9

31

11

3

31

26

4

–

–

$15,000 to $19,999

140

21

22

39

12

7

38

22

11

1

3

$20,000 to $24,999

229

20

33

63

31

13

69

44

18

1

6

$25,000 to $29,999

171

9

12

58

41

10

41

35

2

2

1

$30,000 to $34,999

217

9

10

64

24

18

91

69

7

5

10

$35,000 to $39,999

189

4

3

27

29

16

109

69

22

8

10

$40,000 to $44,999

153

–

3

34

32

14

69

36

21

5

7

$45,000 to $49,999

140

–

3

29

22

10

76

50

16

2

7

$50,000 to $54,999

136

–

2

20

12

21

81

58

18

4

2

$55,000 to $59,999

64

2

–

12

2

9

39

24

15

–

1

$60,000 to $64,999

129

–

–

10

21

5

93

48

40

2

2

$65,000 to $69,999

63

–

–

8

5

8

42

28

9

–

5

$70,000 to $74,999

89

–

2

3

2

2

79

38

29

6

6

$75,000 to $79,999

88

–

5

5

1

5

71

34

31

3

2

$80,000 to $84,999

86

–

–

–

7

5

74

42

20

4

7

$85,000 to $89,999

43

–

–

2

4

–

38

14

10

5

9

$90,000 to $94,999

37

–

–

2

2

–

32

10

20

2

1

$95,000 to $99,999

39

–

–

2

4

–

33

13

15

1

4

307

–

–

6

8

–

293

106

98

44

45

$100,000 or more Median earnings

$44,190 $19,445 $22,156 $30,697 $36,379 $41,214 $61,351 $51,065 $71,858 $86,940 $80,455

PERCENT DISTRIBUTION

Asian men working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

6.0

29.0

11.1

8.5

6.9

3.3

3.6

5.4

1.9

–

–

$15,000 to $24,999

15.0

44.1

50.9

24.2

15.5

13.3

7.5

8.5

7.0

2.1

6.9

$25,000 to $49,999

35.3

23.7

28.7

50.2

53.4

45.3

27.2

33.2

16.5

23.2

26.9

$50,000 to $74,999

19.5

2.2

3.7

12.6

15.2

30.0

23.6

25.1

26.9

12.6

12.3

$75,000 or more

24.3

–

4.6

4.0

9.4

6.7

38.2

28.0

47.1

62.1

52.3

Note: Earnings include wages and salaries only. The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 183

Table 2.32

Men Who Work Full-Time by Earnings and Education, 2002: Black Men

(number and percent distribution of black men aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Black men working full-time

4,986

129

400

1,889

1,123

381

1,064

787

175

52

Under $5,000

41

3

9

16

10

4

–

–

–

–

51 –

$5,000 to $9,999

75

–

19

43

8

2

4

3

1

–

–

$10,000 to $14,999

284

18

63

131

54

4

15

13

2

–

–

$15,000 to $19,999

534

36

70

267

98

19

44

44

–

–

–

$20,000 to $24,999

585

23

63

297

94

41

65

51

8

2

5

$25,000 to $29,999

572

18

57

271

125

38

65

50

14

–

2

$30,000 to $34,999

559

7

32

243

137

50

91

70

17

3

2

$35,000 to $39,999

529

8

32

182

139

56

112

83

22

4

4

$40,000 to $44,999

385

8

16

130

90

31

111

83

18

3

5

$45,000 to $49,999

271

2

11

87

91

31

49

44

2

3

–

$50,000 to $54,999

287

–

11

69

73

24

109

85

14

7

2

$55,000 to $59,999

140

2

6

29

29

12

63

46

14

–

3

$60,000 to $64,999

118

–

–

37

39

16

26

13

5

3

4

$65,000 to $69,999

102

–

1

10

31

14

45

36

5

2

2

$70,000 to $74,999

108

–

3

28

22

12

42

23

12

5

2

$75,000 to $79,999

83

–

6

13

25

5

33

22

11

–

–

$80,000 to $84,999

65

–

1

6

13

5

40

31

7

–

3

$85,000 to $89,999

35

–

–

5

9

6

15

13

–

2

–

$90,000 to $94,999

38

–

1

7

13

–

18

15

3

–

–

14

–

–

–

1

1

11

5

4

–

2

162

3

2

19

23

12

103

56

17

17

12

$32,461 $21,283 $22,144 $27,240 $35,965 $37,213 $46,861 $44,173 $51,093

–

–

$95,000 to $99,999 $100,000 or more Median earnings

PERCENT DISTRIBUTION

Black men working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

8.0

16.3

22.8

10.1

6.4

2.6

1.8

2.0

1.7

–

–

$15,000 to $24,999

22.4

45.7

33.3

29.9

17.1

15.7

10.2

12.1

4.6

3.8

9.8

$25,000 to $49,999

46.5

33.3

37.0

48.3

51.8

54.1

40.2

41.9

41.7

25.0

25.5

$50,000 to $74,999

15.1

1.6

5.3

9.2

17.3

20.5

26.8

25.8

28.6

32.7

25.5

8.0

2.3

2.5

2.6

7.5

7.6

20.7

18.0

24.0

36.5

33.3

$75,000 or more

Note: Earnings includes wages and salaries only. The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

184 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.33

Men Who Work Full-Time by Earnings and Education, 2002: Hispanic Men

(number and percent distribution of Hispanic men aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

7,023

1,543

1,235

2,003

985

358

900

615

180

67

39

84

16

12

28

12

3

12

10

–

1

–

$5,000 to $9,999

171

76

40

33

14

3

6

6

–

–

–

$10,000 to $14,999

677

280

168

146

42

11

29

25

1

1

2

$15,000 to $19,999

1,030

370

251

290

57

19

42

31

8

3

–

$20,000 to $24,999

1,022

319

218

266

129

42

47

38

3

6

–

$25,000 to $29,999

880

159

185

282

137

49

70

58

11

–

–

$30,000 to $34,999

678

112

117

236

103

31

79

54

16

6

3

$35,000 to $39,999

526

70

70

187

99

24

78

60

13

3

1

$40,000 to $44,999

379

45

56

114

91

30

43

28

12

3

–

$45,000 to $49,999

327

25

32

97

68

38

67

52

13

–

1

master’s professional degree degree

doctoral degree

Hispanic men working full-time Under $5,000

$50,000 to $54,999

311

15

24

117

61

27

66

45

15

3

3

$55,000 to $59,999

174

10

13

61

47

12

33

21

11

–

2

$60,000 to $64,999

175

18

14

46

30

16

52

36

9

4

3

$65,000 to $69,999

82

3

7

19

9

5

40

27

12

–

1

$70,000 to $74,999

79

3

11

11

21

8

26

12

9

1

4

$75,000 to $79,999

98

7

8

14

17

10

43

33

6

1

3

$80,000 to $84,999

57

4

1

15

6

11

20

10

10

–

–

$85,000 to $89,999

29

–

1

6

3

5

14

7

2

–

4

$90,000 to $94,999

31

2

–

4

6

2

18

12

3

2

–

$95,000 to $99,999

14

–

–

6

–

2

6

4

1

–

1

197

8

12

25

33

10

110

44

24

30

11

$27,141 $20,311 $22,374 $28,491 $34,326 $38,506 $47,325 $43,117 $52,881

–

–

$100,000 or more Median earnings

PERCENT DISTRIBUTION

Hispanic men working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

13.3

24.1

17.8

10.3

6.9

4.7

5.2

6.7

0.6

3.0

$15,000 to $24,999

29.2

44.7

38.0

27.8

18.9

17.0

9.9

11.2

6.1

13.4

–

$25,000 to $49,999

39.7

26.6

37.2

45.7

50.6

48.0

37.4

41.0

36.1

17.9

12.8

$50,000 to $74,999

11.7

3.2

5.6

12.7

17.1

19.0

24.1

22.9

31.1

11.9

33.3

6.1

1.4

1.8

3.5

6.6

11.2

23.4

17.9

25.6

49.3

48.7

$75,000 or more

5.1

Note: Earnings include wages and salaries only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 185

Table 2.34

Men Who Work Full-Time by Earnings and Education, 2002: Non-Hispanic White Men

(number and percent distribution of non-Hispanic white men aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of men with earnings; men in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Non-Hispanic white men working full-time

39,267

412

1,907

11,565

7,131

3,459

14,793

9,582

3,280

1,092

839

Under $5,000

459

6

37

198

90

31

97

75

16

–

6

$5,000 to $9,999

337

11

42

144

52

17

71

43

18

7

3

$10,000 to $14,999

1,028

43

127

409

204

72

174

119

38

7

10

$15,000 to $19,999

1,665

64

207

772

266

94

263

205

50

3

6

$20,000 to $24,999

2,643

74

283

1,238

433

221

395

314

70

2

7

$25,000 to $29,999

3,015

51

303

1,299

610

271

481

385

76

7

11

$30,000 to $34,999

3,643

46

247

1,470

689

321

868

689

136

19

24 24

$35,000 to $39,999

3,226

23

203

1,163

745

311

779

587

142

27

$40,000 to $44,999

3,174

21

121

1,062

698

382

889

670

156

38

24

$45,000 to $49,999

2,455

18

82

714

541

311

789

555

185

23

26

$50,000 to $54,999

2,931

21

68

835

658

342

1,009

706

236

31

36

$55,000 to $59,999

1,649

4

40

464

317

161

662

448

161

21

33

$60,000 to $64,999

1,958

6

27

439

348

204

934

612

240

45

37

$65,000 to $69,999

1,185

1

13

212

232

140

586

419

120

21

25

$70,000 to $74,999

1,412

1

24

293

228

120

746

496

175

41

32

$75,000 to $79,999

1,371

6

22

168

219

103

853

532

204

63

55

$80,000 to $84,999

982

2

18

149

169

77

567

351

129

41

47

$85,000 to $89,999

523

–

5

83

89

36

309

171

102

17

19

$90,000 to $94,999

632

2

3

71

74

51

430

249

110

40

31

$95,000 to $99,999

404

–

1

28

52

23

300

180

74

17

29

4,569

10

33

347

415

173

3,591

1,776

840

621

353

$100,000 or more Median earnings

$45,676 $25,569 $28,558 $35,738 $42,227 $45,144 $64,773 $59,914 $69,655 $100,000 $86,841

PERCENT DISTRIBUTION

Non-Hispanic white men working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

4.6

14.6

10.8

6.5

4.9

3.5

2.3

2.5

2.2

1.3

2.3

$15,000 to $24,999

11.0

33.5

25.7

17.4

9.8

9.1

4.4

5.4

3.7

0.5

1.5

$25,000 to $49,999

39.5

38.6

50.1

49.4

46.0

46.1

25.7

30.1

21.2

10.4

13.0

$50,000 to $74,999

23.3

8.0

9.0

19.4

25.0

28.0

26.6

28.0

28.4

14.6

19.4

$75,000 or more

21.6

4.9

4.3

7.3

14.3

13.4

40.9

34.0

44.5

73.2

63.6

Note: Earnings includes wages and salaries only. The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

186 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Men’s Earnings Vary Widely by Occupation Managers and professionals earn the most. The median earnings of all men aged 15 or older who work full-time stood at $39,429 in 2002. By occupation, men’s earnings vary widely. The highest-paid men are, not surprisingly, lawyers and doctors. Their median earnings were more than $100,000 in 2002 (the Census Bureau calculates median earnings only up to $100,000). Other highly paid men are chief executives and general managers ($81,383), engineers ($66,473), real estate agents ($65,474), and computer scientists ($61,536). The occupation with the lowest earnings for men is food preparation workers ($16,866). Other low-paying occupations include cashiers ($21,250), those in farming, fishing, or forestry ($22,466), building maintenance ($24,181), and health care support ($25,182). ■ Many men in low-paying occupations are young adults working their way up the career ladder. As they gain experience, they will enter higher-paying occupations.

Career choice affects earnings (median earnings of men aged 15 or older who work full-time, year-round, by selected occupation, 2002)

$100,000

$80,000

$66,473 $50,013 $41,547 $40,000

$24,181 $16,866 $0

doctors

engineers

firefighters and police

electricians

building maintenance

food preparation workers

AMERICAN INCOMES: Demographics of Who Has Money 187

Table 2.35

Median Earnings of Men by Occupation, 2002

(number and median earnings of men aged 15 or older working full-time, year-round, by occupation of longest job held, 2002; men in thousands as of 2003)

TOTAL MEN WORKING FULL-TIME, YEAR-ROUND

Management, professional, and related occupations Management, business, and financial operations Management occupations Chief executives, general and operations managers All other managers Business and financial operations Business operations specialists Financial specialists Professional and related Computer and mathematical Computer scientists, analysts, programmers, engineers, and administrators Architecture and engineering Architects, except naval Engineers Drafters, engineering technicians, surveying and mapping technicians Life, physical, and social science occupations Science technicians Community and social services occupations Legal occupations Lawyers, judges, and magistrates Education, training, and library occupations Postsecondary teachers All other teachers Archivists, curators, museum technicians, librarians, and other technicians Arts, design, entertainment, sports, and media occupations Health care practitioner and technical occupations Doctors Nurses All other health and technical occupations Service occupations Health care support occupations Protective service occupations Supervisors Firefighters and police All other protective service occupations Food preparation and serving related occupations Supervisors Chefs and cooks All other food preparation occupations

number with earnings

median earnings

58,761 20,250 10,402 8,180 1,588 6,588 2,222 1,021 1,202 9,848 1,998

$39,429 57,196 59,716 60,956 81,383 55,855 51,902 50,276 57,901 56,438 61,524

1,918 2,048 160 1,416

61,536 60,890 66,455 66,473

437 702 151 730 593 539 1,420 446 876

46,367 52,775 40,141 36,367 100,000 100,000 46,452 60,723 42,100

98 993 1,365 658 187 520

32,271 45,321 75,791 100,000 49,814 51,290

6,303 189 1,697 200 747 751 1,894 278 899 717

26,105 25,182 40,878 57,155 50,013 29,698 20,095 27,015 20,791 16,866 (continued)

188 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

number with earnings

median earnings

1,930 226 1,704 593 116 476

$24,181 31,959 22,446 31,062 36,057 30,597

Sales and office occupations Sales and related occupations Supervisors Cashiers Insurance sales agents Real estate brokers and sales agents All other sales and related occupations Office and administrative support occupations Supervisors Postal workers All other office and administrative support occupations

10,156 6,591 2,654 274 311 279 3,073 3,564 493 337 2,735

37,400 41,477 41,855 21,250 50,073 65,474 41,405 32,267 42,037 45,255 29,876

Natural resources, construction, maintenance occupations Farming, fishing, and forestry occupations Construction and extraction occupations Construction Supervisors Brickmasons, blockmasons, and stonemasons Carpenters Electricians Painters and paperhangers Sheet metal workers All other construction trades Extraction workers Installation, maintenance, and repair occupations Supervisors Aircraft mechanics and service Auto, bus, truck, and heavy equipment mechanics Heating, air conditioning, and refrigeration mechanics and installers Electrical powerline and telecommunications line installers and repairers All other installation and maintenance occupations

10,559 500 5,972 5,888 746 152 1,049 603 433 135 2,706 85 4,087 279 137 1,120

32,618 22,466 31,511 31,428 45,322 26,097 27,227 41,547 25,444 40,573 29,717 37,321 36,262 42,373 47,594 33,673

269

30,397

261 2,020

41,339 35,870

Production, transportation, and material moving occupations Production occupations Supervisors All other production occupations Transportation and material moving occupations Supervisors Auto, bus, truck, ambulance, taxi drivers All other transportation occupations

10,893 5,694 696 4,998 5,200 148 2,980 1,871

31,144 31,436 41,648 30,677 30,778 36,372 32,007 26,235

600

36,467

Building and grounds cleaning and maintenance occupations Supervisors All other maintenance occupations Personal care and service occupations Supervisors All other personal care and service occupations

Armed Forces

Note: Numbers will not add to total because not all occupations are shown. Earnings include wages and salary only. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm

AMERICAN INCOMES: Demographics of Who Has Money 189

Three Out of Four Men Receive Wage and Salary Income Nearly half also receive interest income. Seventy-five percent of men received income from wages and salaries in 2002, making it the most common source of income. Interest ranks second, with 48 percent of men receiving it. Only 8 percent of men receive nonfarm self-employment income, while 10 percent receive retirement income, and 17 percent Social Security. The average amount of Social Security income for those who receive it stood at $11,184. For those receiving retirement income, the average amount was $17,166. For those receiving interest income, just $1,599. Asian, black, and Hispanic men are more likely to receive wage and salary income, but less likely to receive Social Security or interest income than non-Hispanic white men. Eighty-four percent of Hispanics, 80 percent of Asians, and 75 percent of blacks receive wage and salary income versus 73 percent of non-Hispanic whites. But 19 percent of nonHispanic white men receive Social Security income compared with 16 percent of blacks, 9 percent of Asians, and 8 percent of Hispanics. Interest income is received by 55 percent of non-Hispanic whites versus 45 percent of Asians, 27 percent of blacks, and 22 percent of Hispanics. ■ Non-Hispanic white men are more likely to receive Social Security and interest income because they are older, on average, than Asian, black, and Hispanic men.

Wage and salary income is most common (percent of men aged 15 or older receiving income, by source, 2002)

75% 60%

48%

30%

17%

16% 10%

8%

5%

0%

wage and salary

interest

190 AMERICAN INCOMES: Demographics of Who Has Money

Social Security

dividends

retirement

non-farm self- unemployment employment compensation

MEN’S INCOME, 2002

Table 2.36

Average Income of Men by Source of Income, 2002: Total Men

(number and percent of men aged 15 or older with income, and average income of those with income, 2002; men in thousands as of 2003) number

percent

average income

Men with income Earnings Wages and salary

99,788 80,500 74,874

100.0% 80.7 75.0

$41,057 43,423 43,357

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

7,556 1,505 5,044 1,217 17,162 1,913

7.6 1.5 5.1 1.2 17.2 1.9

30,908 10,383 4,661 6,892 11,184 5,714

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

407 2,062 478 859 10,428 6,524

0.4 2.1 0.5 0.9 10.5 6.5

2,736 9,446 15,024 11,644 17,166 13,872

978 918 1,555 157 153 164

1.0 0.9 1.6 0.2 0.2 0.2

24,181 18,741 21,383 16,403 16,704 12,080

47,518 15,976 5,592 3,335 337 14

47.6 16.0 5.6 3.3 0.3 0.0

1,599 1,879 5,713 5,148 4,068 –

936 428

0.9 0.4

6,117 5,299

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: (–) means sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 191

Table 2.37

Average Income of Men by Source of Income, 2002: Asian Men

(number and percent of Asian men aged 15 or older with income, and average income of those with income, 2002; men in thousands as of 2003) number

Asian men with income Earnings Wages and salary

4,139 3,517 3,300

percent

average income

100.0% 85.0 79.7

$44,124 47,543 47,538

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

273 24 186 28 352 88

6.6 0.6 4.5 0.7 8.5 2.1

37,678 – 5,212 – 10,768 6,501

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

11 29 6 14 196 138

0.3 0.7 0.1 0.3 4.7 3.3

– – – – 14,935 11,229

19 15 19 – 3 5

0.5 0.4 0.5 – 0.1 0.1

– – – – – –

1,868 604 196 209 8 –

45.1 14.6 4.7 5.0 0.2 –

1,218 1,209 6,003 5,086 – –

109 15

2.6 0.4

10,067 –

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

192 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.38

Average Income of Men by Source of Income, 2002: Black Men

(number and percent of black men aged 15 or older with income, and average income of those with income, 2002; men in thousands as of 2003) number

Black men with income Earnings Wages and salary Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security) Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

percent

average income

10,096 7,878 7,564

100.0% 78.0 74.9

$28,819 31,444 31,402

490 65 471 137 1,596 460

4.9 0.6 4.7 1.4 15.8 4.6

20,288 – 4,701 6,212 9,503 6,063

90 254 27 126 797 394

0.9 2.5 0.3 1.2 7.9 3.9

2,342 10,799 – 11,374 14,667 11,903

125 104 119 16 4 3

1.2 1.0 1.2 0.2 0.0 0.0

18,325 15,200 18,347 – – –

2,730 669 266 396 34 –

27.0 6.6 2.6 3.9 0.3 –

1,041 1,852 3,810 3,848 – –

90 50

0.9 0.5

4,869 –

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 193

Table 2.39

Average Income of Men by Source of Income, 2002: Hispanic Men

(number and percent of Hispanic men aged 15 or older with income, and average income of those with income, 2002; men in thousands as of 2003) number

Hispanic men with income Earnings Wages and salary Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security) Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

percent

average income

12,624 11,131 10,562

100.0% 88.2 83.7

$27,647 28,775 28,568

726 94 592 185 1,065 280

5.8 0.7 4.7 1.5 8.4 2.2

24,133 11,171 4,504 6,762 9,189 5,897

93 90 22 96 409 231

0.7 0.7 0.2 0.8 3.2 1.8

3,338 12,124 – 10,017 15,365 13,519

50 40 50 6 5 4

0.4 0.3 0.4 0.0 0.0 0.0

– – – – – –

2,715 545 348 309 28 –

21.5 4.3 2.8 2.4 0.2 –

583 1,287 4,476 4,234 – –

61 20

0.5 0.2

– –

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

194 AMERICAN INCOMES: Demographics of Who Has Money

MEN’S INCOME, 2002

Table 2.40

Average Income of Men by Source of Income, 2002: Non-Hispanic White Men

(number and percent of non-Hispanic white men aged 15 or older with income, and average income of those with income, 2002; men in thousands as of 2003) number

percent

average income

Non-Hispanic white men with income Earnings Wages and salary

72,146 57,382 52,894

100.0% 79.5 73.3

$44,998 47,709 47,798

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

6,006 1,295 3,719 841 13,987 1,057

8.3 1.8 5.2 1.2 19.4 1.5

32,479 11,056 4,631 7,206 11,554 5,472

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

200 1,648 418 617 8,943 5,711

0.3 2.3 0.6 0.9 12.4 7.9

2,769 8,949 15,672 12,030 17,505 14,109

775 748 1,354 134 138 150

1.1 1.0 1.9 0.2 0.2 0.2

25,159 19,475 21,766 16,583 17,014 11,678

39,866 14,042 4,734 2,387 258 12

55.3 19.5 6.6 3.3 0.4 0.0

1,727 1,928 5,947 5,486 4,264 –

659 327

0.9 0.5

5,876 6,059

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 195

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WOMEN’S INCOME TRENDS CHAPTER

3

Women’s Income Women’s incomes have grown substantially since 1980. The median income of all women rose 65 percent between 1980 and 2002, from $10,170 to $16,812 after adjusting for inflation. Women of all ages made income gains, with the largest increases among women of prime working age, 25 to 64. Between 2000 and 2002, however, women’s incomes fell in most age groups. Behind the decline was the recession of 2001, which reduced earnings. Women’s rising labor force participation is behind the income growth they have experienced since 1980. A ever-larger percentage of women work full-time, and the educational attainment and career aspirations of those who work full-time have been increasing rapidly—thanks to the ambitions of baby boomers and younger women. Women’s incomes still lag behind men’s for many reasons. The average female worker is younger and less educated than the average male worker, lowering her earnings. Women make different career choices than men and more often choose less demanding jobs with greater flexibility—jobs that typically pay less. Finally, many women choose to drop out of the labor force for a few years while their children are young, diminishing their earning power. ■ Among young adults, women are more educated than men. As they age, the gap between the incomes of men and women should continue to narrow.

AMERICAN INCOMES: Demographics of Who Has Money 197

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WOMEN’S INCOME TRENDS

Women’s Income Trends

AMERICAN INCOMES: Demographics of Who Has Money 199

Middle-Aged Women Made Gains between 2000 and 2002 Younger and older women saw their incomes decline. During the 1980s and 1990s, the median income of women grew substantially in every age group, after adjusting for inflation. Between 1990 and 2002, the income gains ranged from a low of 15 percent among women aged 35 to 44 to a high of 53 percent among women aged 55 to 64. Behind the increases in women’s median income is their growing labor force participation. Between 2000 and 2002, the rise in women’s incomes slowed to a crawl. Among all women, median income rose only 0.2 percent during those years. Women under age 45 saw their incomes decline, as did women aged 65 or older. Behind these declines was the recession of 2001 and job losses. Bucking the trend, women aged 45 to 64 continued to make gains between 2000 and 2002. Women aged 55 to 64 saw their incomes grow fully 8.5 percent, after adjusting for inflation. Behind this hefty increase was the entry of a more careeroriented cohort into the age group, boosting labor force participation and incomes. ■ The incomes of women aged 55 to 64 should continue to climb as boomers fill the age group and labor force participation grows.

Women’s incomes in 2002 were far above the level of 1990 (percent change in median income of women by age, 1990 to 2002; in 2002 dollars)

53% 50%

33% 29% 25%

16%

15% 6%

0%

under 25

25 to 34

200 AMERICAN INCOMES: Demographics of Who Has Money

34 to 44

45 to 54

55 to 64

65 or older

WOMEN’S INCOME TRENDS

Table 3.1

Median Income of Women by Age, 1980 to 2002

(median income of women aged 15 or older with income by age, 1980 to 2002; percent change in income for selected years; in 2002 dollars) aged 65 or older total women

15 to 24

25 to 34

35 to 44

45 to 54

55 to 64

total

65 to 74

75 or older

2002

$16,812

$7,582

$21,649

$22,322

$25,165

$19,165

$11,406

$11,279

$11,503

2001

16,878

7,586

21,814

22,828

24,519

18,106

11,493

11,379

11,577

2000

16,774

7,685

21,980

23,054

24,782

17,669

11,511

11,390

11,602

1999

16,523

7,218

20,931

22,319

24,374

17,176

11,809

11,831

11,793

1998

15,899

7,200

20,116

22,350

23,785

16,169

11,573

11,517

11,619

1997

15,311

7,086

19,718

20,900

22,943

16,062

11,242

11,330

11,169

1996

14,624

6,711

18,697

21,051

21,735

15,196

10,985

11,019

10,953

1995

14,214

6,222

18,229

20,386

20,768

14,508

10,963

10,871

11,047

1994

13,762

6,611

17,865

19,431

20,465

13,043

10,742

10,594

10,877

1993

13,537

6,558

17,143

19,418

20,006

13,272

10,416

10,597

10,251

1992

13,458

6,494

17,122

19,365

19,912

12,728

10,279

10,318

10,238

1991

13,489

6,692

16,692

19,475

18,959

12,750

10,544

10,475

10,611

1990

13,435

6,540

16,796

19,351

18,985

12,541

10,732

10,927

10,528

1989

13,479

6,637

17,130

19,335

18,407

12,833

10,721

11,131

10,332

1988

12,977

6,552

16,892

18,326

17,558

12,237

10,375

10,599

10,143

1987

12,558

6,673

16,621

18,159

17,051

11,416

10,439

10,576

10,291

1986

11,913

6,331

16,140

17,320

16,249

11,549

10,058

–

–

1985

11,504

6,043

15,747

16,378

15,333

11,434

10,064

–

–

1984

11,313

5,945

15,470

15,748

14,665

11,261

9,916

–

–

1983

10,823

5,922

14,565

15,177

14,054

10,498

9,590

–

–

1982

10,502

5,981

14,223

14,006

13,383

10,538

9,572

–

–

1981

10,313

3,772

14,357

13,919

13,284

10,157

8,892

–

–

1980

10,170

6,457

14,414

13,364

13,235

10,182

8,736

–

–

Percent change 2000–2002

–1.3%

–1.5%

–3.2%

–0.9%

–1.0%

–0.8%

1990–2002

25.1

0.2%

15.9

28.9

15.4

32.6

1.5%

52.8

8.5%

6.3

3.2

9.3

1980–2002

65.3

17.4

50.2

67.0

90.1

88.2

30.6

–

–

Note: (–) means data not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 201

The Incomes of Black Women Have Grown Fastest Since 1980 Many women have lost ground since 2000, however. Between 1980 and 2002, the median income of black women grew 76 percent, rising from $9,467 to $16,671, after adjusting for inflation. The incomes of black women have been growing rapidly because younger generations of better-educated, career-oriented women are replacing older women in the workforce. The median income of Hispanic women grew a smaller 47 percent between 1980 and 2002, while that of non-Hispanic whites grew 69 percent. Between 2000 and 2002, the median income of all women slowed to a near standstill as the recession of 2001 cut incomes. The median income of Asian women fell 1.2 percent, while that of non-Hispanic whites was down 0.1 percent. In contrast, the incomes of black women continued to climb, rising a small 0.5 percent between 2000 and 2002. Hispanic women saw a strong 4.5 percent rise in their income during those years. ■ The income gap between black and non-Hispanic white women will disappear in the next few years if black income growth continues to outpace non-Hispanic white.

Hispanic women saw the biggest income gains between 2000 and 2002 (percent change in median income of women by race and Hispanic origin, 2000 to 2002; in 2002 dollars)

4.5% 4%

2%

0.5% 0%

–0.1% –1.2% Asian

202 AMERICAN INCOMES: Demographics of Who Has Money

black

Hispanic

non-Hispanic white

WOMEN’S INCOME TRENDS

Table 3.2

Median Income of Women by Race and Hispanic Origin, 1980 to 2002

(median income of women aged 15 or older with income by race and Hispanic origin, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total women

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

$16,812 16,878 16,774

$17,898 18,820 18,124

$16,671 16,541 16,584

$13,364 12,783 12,790

$17,389 17,503 17,402

1999 1998 1997 1996 1995 1994

16,523 15,899 15,311 14,624 14,214 13,762

18,172 16,779 15,991 16,700 15,072 14,838

15,939 14,475 14,579 13,434 12,844 12,656

12,209 11,967 11,463 10,822 10,462 10,338

17,182 16,766 16,077 15,421 15,007 14,337

1993 1992 1991 1990 1989 1988

13,537 13,458 13,489 13,435 13,479 12,977

15,154 14,911 14,197 14,790 15,699 13,502

11,652 11,163 11,352 11,111 11,030 10,734

9,927 10,435 10,317 10,049 10,710 10,210

14,215 14,134 14,164 14,117 14,023 13,608

1987 1986 1985 1984 1983 1982

12,558 11,913 11,504 11,313 10,823 10,502

– – – – – –

10,520 10,279 10,006 10,153 9,495 9,390

10,037 9,922 9,596 9,603 9,253 9,171

13,168 12,353 11,857 11,629 – 10,963

1981 1980

10,313 10,170

– –

9,265 9,467

9,562 9,106

10,616 10,294

Percent change 2000–2002 0.2% 1990–2002 25.1 1980–2002 65.3

–1.2% 21.0 –

0.5% 50.0 76.1

4.5% 33.0 46.8

–0.1% 23.2 68.9

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 203

Women in the Midwest Have Seen the Biggest Gains Since 2000, however, the incomes of women in the Midwest have declined. Between 1980 and 2002, women’s median income rose 71 percent in the Midwest, after adjusting for inflation. It grew 69 percent in the Northeast, 65 percent in the South, and 55 percent in the West during those years. Behind these enormous gains is the growing labor force participation of women. Between 2000 and 2002, women’s incomes grew only 0.2 percent because of job losses following the recession of 2001. Women in the Midwest have fared the worst. Their median income fell 1.7 percent between 2000 and 2002, after adjusting for inflation. Behind the decline was the loss of manufacturing jobs, which struck Midwestern states particularly hard. Women’s median income rose only 0.1 percent in the South during those years, and was up by 1.0 percent in the West and 1.3 percent in the Northeast. ■ Women’s incomes will continue to climb as long as younger generations of educated, career-oriented women replace older just-a-job women in the labor force.

Women’s median income grew more slowly in the West (percent change in median income of women by region, 1980 to 2002; in 2002 dollars)

69%

71% 65% 55%

50%

25%

0%

Northeast

204 AMERICAN INCOMES: Demographics of Who Has Money

Midwest

South

West

WOMEN’S INCOME TRENDS

Table 3.3

Median Income of Women by Region, 1980 to 2002

(median income of women aged 15 or older with income by region, 1980 to 2002; percent change in income for selected years; in 2002 dollars) total women

Northeast

Midwest

South

West

2002 2001 2000 1999 1998 1997

$16,812 16,878 16,774 16,523 15,899 15,311

$17,243 17,339 17,022 17,029 16,318 16,015

$16,921 17,154 17,212 16,735 16,001 15,530

$16,223 16,180 16,215 15,900 15,400 14,565

$17,283 17,250 17,108 16,777 16,166 15,645

1996 1995 1994 1993 1992 1991

14,624 14,214 13,762 13,537 13,458 13,489

15,350 14,627 14,359 13,940 14,194 14,225

14,893 14,507 13,889 13,519 13,235 13,133

14,102 13,581 13,129 12,939 12,744 12,945

14,642 14,597 14,160 14,177 14,251 14,133

1990 1989 1988 1987 1986 1985

13,435 13,479 12,977 12,558 11,913 11,504

14,318 14,766 14,039 13,236 12,554 12,024

13,500 12,805 12,122 11,847 11,373 10,924

12,564 12,673 12,305 12,085 11,406 10,832

13,965 14,435 14,167 13,534 12,805 12,935

1984 1983 1982 1981 1980

11,313 10,823 10,502 10,313 10,170

11,536 10,945 10,660 10,395 10,212

10,751 10,216 10,012 9,943 9,897

11,027 10,563 10,130 9,858 9,825

12,467 11,911 11,783 11,289 11,141

Percent change 2000–2002 1990–2002 1980–2002

0.2% 25.1 65.3

1.3% 20.4 68.9

–1.7% 25.3 71.0

0.1% 29.1 65.1

1.0% 23.8 55.1

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 205

The Earnings of Working Women Are Up Between 1990 and 2002, women’s earnings rose 31 percent, after adjusting for inflation. The rapid rise in women’s earnings over the past few decades stems largely from the growing share of women with full-time, year-round jobs. Evidence of this can be seen in median income trends by work status. Women who work full-time, year-round experienced below-average earnings growth during the past two decades. Between 1980 and 2002, women working full-time, year-round saw their median income rise 30 percent, after adjusting for inflation. While this is a substantial gain—particularly in comparison to men—the rise is much smaller than the 57 percent gain for all women with earnings. The pattern is the same for earnings gains between 1990 and 2002. The median earnings of the average woman rose 31 percent, more than twice as fast as the earnings of women working full-time, year-round. Behind the substantial earnings gain for all women is the growing share who are full-time, year-round workers. Between 2000 and 2002, the pattern changed. Women with full-time, year-round jobs saw their earnings grow faster than average as many working women found themselves job hunting. ■ Women’s earnings will continue to grow rapidly for the next few years as career-oriented women replace older just-a-job women in the labor force.

The earnings of full-time, year-round workers grew more slowly than average between 1990 and 2002 (percent change in median earnings of women with earnings by work status, 1990 to 2002; in 2002 dollars)

31% 30%

20%

14% 10%

0%

all women with earnings

206 AMERICAN INCOMES: Demographics of Who Has Money

women working full-time, year-round

WOMEN’S INCOME TRENDS

Table 3.4

Median Earnings of Women by Work Experience, 1980 to 2002

(median earnings of women aged 15 or older with earnings by work experience, 1980 to 2002; percent change in earnings for selected years; in 2002 dollars) worked full-time

worked part-time

total women with earnings

total

year-round

total

year-round

2002 2001 2000

$21,429 21,183 21,164

$27,029 26,756 26,604

$30,203 29,680 28,677

$7,303 7,173 6,923

$11,455 11,239 11,093

1999 1998 1997 1996 1995 1994

19,844 19,520 18,677 18,290 17,954 17,191

25,623 25,393 24,451 24,175 23,861 23,734

28,407 28,495 27,903 27,057 26,363 26,652

6,713 6,726 6,424 6,296 5,921 5,913

11,039 11,012 10,531 10,058 10,262 10,348

1993 1992 1991 1990 1989 1988

17,031 16,991 16,590 16,344 16,436 16,208

23,700 23,540 23,051 22,544 22,690 22,556

26,652 26,849 26,464 26,446 26,286 25,716

5,810 5,858 5,763 5,660 5,462 5,292

9,902 9,667 9,451 9,570 9,434 9,489

1987 1986 1985 1984 1983 1982

16,076 15,679 14,869 14,290 14,097 13,713

22,269 21,352 20,514 20,062 20,051 19,612

25,601 25,411 24,905 24,345 23,835 23,217

5,285 4,928 4,633 4,515 4,721 4,771

9,515 9,538 8,851 9,214 9,006 8,847

1981 1980

13,647 13,692

19,331 19,050

22,677 23,145

4,618 4,614

9,225 8,870

Percent change 2000–2002 1.3% 1990–2002 31.1

1.6% 19.9

5.3% 14.2

5.5% 29.0

3.3% 19.7

1980–2002

41.9

30.5

58.3

29.1

56.5

Note: Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 207

The Earnings of Black Women Are Rising Hispanic women have made the smallest gains over the past few decades. The median earnings of black women with full-time jobs rose 22 percent between 1980 and 2002, after adjusting for inflation. In contrast, Hispanic women with full-time jobs saw their earnings grow a smaller 10 percent during those years. Consequently, the median earnings of Hispanic women have been falling relative to those of black women. Among full-time workers in 1980, Hispanic women earned 91 percent as much as black women. By 2002, the figure was just 81 percent. Asian and non-Hispanic white women have the highest earnings, $31,460 and $31,402 respectively in 2002. Between 2000 and 2002, the earnings of women with full-time jobs climbed 5 percent, after adjusting for inflation. Black women with full-time jobs experienced the biggest gain, while Asian women saw their earnings decline. ■ The earnings of Hispanic women are below average because poorly educated immigrants with little earning power account for a large share of the Hispanic population.

Among women, earnings are growing faster for blacks than for Hispanics (median earnings of women working full-time, year-round, by race and Hispanic origin, 1980 and 2002; in 2002 dollars)

$26,912 $22,060

$21,910 $20,007

$20,000

$10,000 1980 2002

$0

black

208

AMERICAN INCOMES: Demographics of Who Has Money

Hispanic

WOMEN’S INCOME TRENDS

Table 3.5

Median Earnings of Women Who Work Full-Time, by Race and Hispanic Origin, 1980 to 2002

(median earnings of women aged 15 or older working full-time, year-round, by race and Hispanic origin, 1980 to 2002; percent change in earnings for selected years; in 2002 dollars) total women

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

$30,203 29,680 28,677

$31,460 31,173 31,824

$26,912 27,018 26,199

$21,910 21,835 21,574

$31,402 31,291 31,158

1999 1998 1997 1996 1995 1994

28,407 28,495 27,903 27,057 26,363 26,652

30,938 29,825 31,040 29,162 29,151 29,349

26,145 24,954 24,620 24,505 24,215 23,897

20,947 21,177 21,199 21,300 20,129 21,088

29,588 29,616 28,955 28,404 27,727 27,842

1993 1992 1991 1990 1989 1988

26,652 26,849 26,464 26,446 26,286 25,716

29,836 28,640 27,264 28,450 29,918 28,261

24,285 24,826 24,104 24,069 24,354 24,157

20,537 21,462 20,916 20,909 21,935 21,683

27,431 27,501 27,161 27,160 26,948 26,459

1987 1986 1985 1984 1983 1982

25,601 25,411 24,905 24,345 23,835 23,217

– – – – – –

23,845 23,065 22,807 22,599 21,736 21,644

21,989 21,660 20,828 20,663 19,979 19,824

26,129 – – – – –

1981 1980

22,677 23,145

– –

21,161 22,060

20,273 20,007

– –

Percent change 2000–2002 5.3% 1990–2002 14.2 1980–2002 30.5

–1.1% 10.6 –

2.7% 11.8 22.0

1.6% 4.8 9.5

0.8% 15.6 –

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 209

Education Does Not Guarantee Earnings Growth The recession of 2001 hurt even highly educated workers. Between 2000 and 2002, earnings growth slowed for many women. Those with more education were not immune to recessional job losses. In fact, some of the most highly educated women saw their earnings decline. Among women working full-time, those with associate’s degrees saw their earnings decline by 1.4 percent between 2000 and 2002, after adjusting for inflation. Women with master’s degrees experienced a smaller 0.4 percent drop, while those with professional degrees suffered a substantial 10 percent loss in earnings. This pattern is different from the longer-term trend. Between 1991 and 2002, the median earnings of women aged 25 or older working full-time grew 13 percent, to $31,010, after adjusting for inflation. Earnings growth was below average for women without a college degree and above average for those with a college degree—with one exception. Women with professional degrees experienced below-average growth as managed care cut the salaries of health care providers. ■ It’s likely that the earnings of better-educated women will resume their above-average growth once the economic recovery is fully underway.

Since 1991, earnings have grown the most for women with doctorates (percent change in median earnings of women working full-time, year-round, by educational attainment, 1991 to 2002; in 2002 dollars)

27%

20%

15% 10%

15%

11%

10%

8%

7% 4%

3% 0%

less than 9th grade

9th–12th grade, no diploma

high school graduate

210 AMERICAN INCOMES: Demographics of Who Has Money

some college

associate’s degree

bachelor’s degree

master’s degree

professional degree

doctoral degree

Table 3.6 Median Earnings of Women Who Work Full-time by Education, 1991 to 2002

(median earnings of women aged 25 or older working full-time, year-round, by educational attainment, 1991 to 2002; in 2002 dollars) bachelor’s degree or more

total women

less than 9th grade

9th to 12th grade, no degree

high school graduate

some college

associate’s degree

total

bachelor’s degree

master’s degree

professional degree

doctoral degree

$65,715

2002

$31,010

$16,510

$19,307

$25,182

$29,400

$31,625

$43,245

$40,853

$48,890

$57,018

2001

30,930

16,427

18,222

24,602

29,298

31,690

42,715

40,451

49,044

61,048

61,386

2000

30,462

16,313

17,947

24,614

28,512

32,060

43,221

40,158

49,066

63,157

59,889

1999

29,283

15,512

17,622

23,708

28,549

32,513

43,292

39,215

48,932

61,213

60,803

1998

29,431

15,571

17,460

24,199

28,674

31,266

41,226

39,013

46,278

61,106

57,478

1997

28,853

15,024

17,773

23,788

27,972

30,398

40,610

37,354

46,766

60,925

56,713

1996

28,304

15,488

18,409

23,395

27,197

30,552

40,088

36,415

46,121

64,398

59,329

1995

27,677

14,971

17,698

23,024

26,380

30,796

39,138

36,089

45,224

56,376

49,122

1994

27,804

14,438

17,373

23,440

26,612

30,264

39,977

36,896

45,065

57,954

55,787

27,479

14,555

18,016

23,492

26,958

30,721

39,574

37,188

45,252

59,323

56,889

27,811

15,266

17,215

23,383

27,573

31,173

39,363

36,686

43,965

55,662

54,990

1991

27,390

14,984

17,432

23,231

27,462

30,725

39,134

35,607

42,648

54,858

51,726

Percent change 2000–2002 1991–2002

1.8% 13.2

1.2% 10.2

7.6% 10.8

2.3%

3.1%

8.4

7.1

–1.4% 2.9

0.1% 10.5

1.7% 14.7

–0.4% 14.6

–9.7% 3.9

9.7% 27.0

Note: Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/hhes/income/histinc/ incperdet.html; calculations by New Strategist

WOMEN’S INCOME TRENDS

AMERICAN INCOMES: Demographics of Who Has Money 211

1993 1992

Women in Most Occupations Have Gained Ground Earnings have grown slowly for women in some occupations, however. Among women who work full-time, year-round, median earnings rose 12 percent between 1990 and 2001. Earnings grew much faster in some occupations than others, however. (Note: Because the government changed occupational classifications in 2002, it is impossible to compare 2002 figures with those for earlier years. For 2002 earnings by occupation, see Women’s Income, 2002.) The median earnings of women managers and professionals grew 15 percent between 1990 and 2001, after adjusting for inflation. In contrast, women health technologists saw their earnings fall 10 percent as managed care lowered wages in the health care industry. Women in sales saw their earnings grow an impressive 15 percent as more took on bigticket sales jobs rather than retail counter work. Women in precision production, craft, and repair saw earnings grow 6 percent, while women operators, fabricators, and laborers gained 8 percent. Between 2000 and 2001, women workers in many industries experienced a decline in earnings because of the recession and subsequent job losses. Among the occupations in which earnings declined are professional specialty occupations; technical and sales occupations; protective service; farming, forestry, and fishing; and precision production, craft, and repair. ■ Because most women work in white-collar occupations, their earnings are less affected by the shift from blue-collar to white-collar employment in the United States.

Women’s fortunes vary by occupation (percent change in median earnings of women working full-time by selected occupation, 1990 to 2001; in 2002 dollars)

15%

15%

10%

8%

7%

6%

5%

0%

–5%

–7% –10% executive, administrative, managerial

professional specialty

health technologists

212 AMERICAN INCOMES: Demographics of Who Has Money

sales

protective service

precision production, craft, repair

operators, fabricators, laborers

Table 3.7 Median Earnings of Women Who Work Full-time by Occupation, 1990 to 2001

(median earnings of women aged 15 or older working full-time, year-round, by occupation of longest job held, 1990 to 2001; in 2002 dollars) managerial and professional specialty executive, admin., professional managerial specialty

total women

total

2001

$29,680

$40,940

$39,841

$41,581

2000

28,677

39,937

38,512

1999

28,407

39,806

1998

28,495

1997

27,903

service occupations

technical, sales, and administrative support

total

health techs.

techs. excl. health

$27,052

$27,318

$36,512

41,965

26,934

28,250

39,000

40,502

26,992

39,276

38,293

39,952

38,520

36,913

39,572

service excl. protective protective, service household

farming, forestry, fishing

precision production, craft, and repair

operators, fabricators, laborers

$21,131

sales

admin. support

total

$26,085

$26,774

$18,045

$28,155

$17,719

$13,775

$26,445

37,006

26,472

26,338

17,803

28,449

17,587

16,804

26,677

20,964

27,334

37,196

25,659

26,525

17,596

29,045

17,463

14,276

26,919

20,444

26,749

28,488

34,813

25,559

26,261

17,240

29,244

16,885

17,481

26,341

20,621

25,478

27,872

35,496

23,902

25,111

17,837

33,365

17,624

19,331

24,189

19,429 19,794

1996

27,057

36,866

35,613

39,413

25,257

28,500

35,936

24,364

24,830

17,090

31,674

16,834

19,686

24,153

1995

26,363

37,202

35,898

39,023

25,105

29,390

37,185

23,763

24,773

16,965

29,212

16,762

13,924

25,009

19,118

1994

26,652

37,759

36,367

38,794

25,432

30,696

36,262

22,789

25,136

16,225

29,045

16,077

12,825

25,970

19,601

1993

26,652

37,715

35,389

39,102

25,584

31,059

35,465

22,971

25,348

16,087

33,457

15,668

12,968

26,174

19,049

1992

26,849

37,361

34,456

39,225

25,548

28,692

33,822

22,353

25,471

16,191

30,640

15,778

12,637

23,832

19,744

26,464

37,269

34,673

39,255

25,219

27,546

33,063

22,217

25,036

15,642

29,002

15,377

13,140

23,890

19,726

26,446

36,399

34,499

38,932

24,996

30,478

35,746

22,663

24,649

16,195

30,232

16,079

13,351

25,001

19,487

Percent change 2000–2001 1990–2001

3.5% 12.2

2.5% 12.5

3.5% 15.5

–0.9% 6.8

0.4% 8.2

–3.3% –10.4

–1.3% 2.1

–1.5%

1.7%

15.1

8.6

1.4% 11.4

–1.0% –6.9

0.8% 10.2

–18.0%

–0.9%

3.2

5.8

0.8% 8.4

Note: In 2002, the federal government’s occupational classifications changed. Consequently, the 2002 data by occupation are not comparable with those for earlier years. To see median earnings of full-time workers by occupation in 2002, go to the Men’s and Women’s Income in 2002 sections. Data on earnings for women in the armed forces is not available because the sample is too small to make a reliable estimate. Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/hhes/income/histinc/incperdet.html; calculations by New Strategist

WOMEN’S INCOME TRENDS

AMERICAN INCOMES: Demographics of Who Has Money 213

1991 1990

Women Are Closing the Gap Women’s earnings have grown much faster than men’s over the past two decades. Between 1980 and 2002, the median earnings of women with full-time jobs rose 30 percent, after adjusting for inflation. In contrast, the median earnings of men working full-time rose just 2 percent. Consequently, the earnings gap between women and men narrowed considerably. In 1980, women earned just 60 percent of what men earned. By 2002, they earned 77 percent as much as men—an all-time high. The median earnings of women who work full time stood at $30,203 in 2002, compared to a median of $39,429 for men. Men earned $15,327 more than women in 1980, a gap that shrank to $9,226 in 2002. ■ The average male worker is older and better educated than the average female worker, accounting for a large portion of the gap in earnings between men and women.

Men’s and women’s earnings are becoming more alike (median earnings of men and women working full-time, year-round, 1980, 1990, and 2002; in 2002 dollars)

$39,429

$38,472 $36,927

$30,203 $30,000

$26,446 $23,145

$20,000

$10,000 men women

$0

1980

214 AMERICAN INCOMES: Demographics of Who Has Money

1990

2002

WOMEN’S INCOME TRENDS

Table 3.8

Women’s Earnings as a Percentage of Men’s Earnings, 1980 to 2002

(median earnings of people aged 15 or older working full-time, year-round, by sex, and women’s earnings as a percentage of men’s earnings, 1980 to 2002; in 2002 dollars) women’s earnings as a percentage of men’s earnings

men

women

2002 2001 2000 1999 1998 1997

$39,429 38,884 38,901 39,361 38,944 37,625

$30,203 29,680 28,677 28,407 28,495 27,903

1996 1995 1994 1993 1992 1991

36,682 36,908 37,034 37,265 37,931 37,883

27,057 26,363 26,652 26,652 26,849 26,464

73.8 71.4 72.0 71.5 70.8 69.9

1990 1989 1988 1987 1986 1985

36,927 38,278 38,935 39,279 39,537 38,568

26,446 26,286 25,716 25,601 25,411 24,905

71.6 68.7 66.0 65.2 64.3 64.6

1984 1983 1982 1981 1980

38,244 37,480 37,603 38,283 38,472

24,345 23,835 23,217 22,677 23,145

63.7 63.6 61.7 59.2 60.2

percent change

percent change

percentage point change

2000–2002 1990–2002 1980–2002

1.4% 6.8 2.5

76.6% 76.3 73.7 72.2 73.2 74.2

5.3% 14.2 30.5

2.9 5.0 16.4

Note: Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incperdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 215

Eight Million Wives Earn More than Their Husbands One in four wives is the primary breadwinner. Among the nation’s 34 million dual-earner couples, 8 million wives earn more than their husbands—accounting for a substantial 24 percent of all dual-earner couples. The number and proportion of couples in which the wife outearns the husband grew rapidly during the 1980s, more slowly in the 1990s, and surged during the past few years. In 2001, 59 percent of married couples were dual earners, up from 52 percent in 1981. Among the dual-earner couples of 1981, only 16 percent of wives earned more than their husbands. The number of wives with higher earnings grew 98 percent between 1981 and 2001—much faster than the 31 percent growth in all dual-earner couples during those years. ■ Today’s young women are better educated than their male counterparts, suggesting higher earnings for more wives in the years ahead.

More wives are outearning their husbands (percent of dual-earner couples in which the wife earns more than the husband, 1981 to 2001)

24% 21% 20%

16%

10%

0%

1981

216 AMERICAN INCOMES: Demographics of Who Has Money

1991

2001

WOMEN’S INCOME TRENDS

Table 3.9

Wives Who Earn More than Their Husbands, 1981 to 2001

(number of married couples, dual-earner couples, and wives who earn more than their husbands; wives who earn more than their husbands as a percent of all dual-earner couples, 1981 to 2001; percent change for selected years; couples in thousands as of the following year) percent of dual-earner couples with wives earning more

total married couples

dual-earner couples

wives who earn more than their husbands

2001 2000 1999 1998

56,755 56,598 55,315 54,778

33,666 33,876 33,344 32,783

8,109 7,906 7,491 7,435

24.1% 23.3 22.3 22.7

1997 1996 1995 1994 1993 1992 1991

54,321 53,604 53,570 53,865 53,181 53,171 52,457

32,745 32,390 32,030 32,093 31,267 31,224 31,003

7,446 7,327 7,028 7,218 6,960 6,979 6,499

22.7 22.6 21.9 22.5 22.3 22.4 21.0

1987 1983 1981

51,809 50,090 49,630

29,079 26,120 25,744

5,266 4,800 4,088

18.1 18.4 15.9

Note: 2002 data were unavailable at time of publication. Earnings include wages and salaries only. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/incfamdet.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 217

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WOMEN’S INCOME, 2002

Women’s Income, 2002

AMERICAN INCOMES: Demographics of Who Has Money 219

Women’s Incomes Peak in the 45-to-54 Age Group Among full-time workers, however, income peaks among older women. The incomes of women peak in the 45-to-54 age group, in part because the percentage of women with full-time jobs is highest at that age, at 54 percent. The median income of women aged 45 to 54 stood at $25,165—50 percent greater than the $16,812 median of all women aged 15 or older. Among full-time workers aged 45 to 54, median income stood at $33,664, and it was an even higher $34,672 among women aged 65 or older who work full-time. Only 4 percent of women aged 65 or older are full-time workers, however. Black women are more likely to work full-time than the average woman, with 41 percent holding full-time jobs. The proportion is 37 percent among Asian women, 36 percent among non-Hispanic white women, and 34 percent among Hispanic women. The median income of black women who work full-time stood at $27,703 in 2002. This amount is less than the $32,347 and $32,031 medians of their non-Hispanic white and Asian counterparts, respectively. But it is far greater than the $22,355 median income of Hispanic women with full-time jobs. ■ Because education boosts earnings, better-educated Asian and non-Hispanic white women have higher incomes than less-educated black women and poorly educated Hispanic women.

Among women working full-time, incomes peak in the middle and older age groups (median income of women aged 15 or older who work full-time, year-round, by age, 2002)

$30,370

$31,751

$33,664

$32,701

45 to 54

54 to 64

$34,672

$30,000

$20,000

$19,570

$10,000

$0

under 25

25 to 34

220 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

65 or older

WOMEN’S INCOME, 2002

Table 3.10

Women by Income and Age, 2002: Total Women

(number and percent distribution of women aged 15 or older by income and age, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) 65 or older TOTAL WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

116,436 13,949 102,487 16,621 16,405 13,658 10,631 9,139 7,487 6,430 4,750 4,116 2,668 2,402 1,484 1,387 877 814 614 504 283 293 265 1,658

19,850 6,266 13,584 5,162 2,658 2,059 1,402 939 493 364 166 130 86 36 17 14 17 10 3 – – 4 – 27

19,679 2,343 17,336 2,563 1,726 1,806 1,809 1,840 1,710 1,552 1,175 907 484 453 287 251 132 155 88 65 39 56 33 208

22,341 1,854 20,487 2,924 1,949 2,070 2,098 2,079 1,812 1,515 1,259 1,144 707 636 394 376 202 249 190 158 99 96 90 444

20,627 1,533 19,094 2,214 1,797 1,859 1,731 1,876 1,674 1,584 1,167 1,117 798 756 466 431 269 236 202 180 89 73 84 491

14,233 1,307 12,926 1,990 1,931 1,508 1,211 1,091 999 846 637 568 371 390 224 221 171 119 115 80 42 42 33 333

19,706 645 19,061 1,768 6,344 4,358 2,381 1,313 800 571 346 251 223 131 96 95 87 46 14 22 13 24 26 155

9,836 351 9,485 967 3,216 1,815 1,108 672 441 320 189 151 151 89 72 65 58 25 8 12 6 13 17 87

9,870 295 9,575 801 3,128 2,543 1,272 641 358 251 155 100 72 40 25 30 29 21 6 10 7 11 9 68

$16,812

$7,582

$21,649

$22,322

$25,165

$19,165

$11,406

$11,279

$11,503

30,970

19,570

30,370

31,751

33,664

32,701

34,672

34,153

36,129

36.0%

17.1%

48.4%

51.6%

54.3%

38.0%

4.3%

7.4%

1.3%

100.0% 12.0 88.0 40.1 17.0 21.9 6.0

100.0% 31.6 68.4 49.8 11.8 6.2 0.5

100.0% 11.9 88.1 31.0 18.5 29.6 6.5

100.0% 8.3 91.7 31.1 18.7 28.8 8.3

100.0% 7.4 92.6 28.5 17.5 30.7 10.5

100.0% 9.2 90.8 38.1 16.2 24.0 7.9

100.0% 3.3 96.7 63.3 18.7 11.1 2.3

100.0% 3.6 96.4 61.0 18.1 12.7 3.1

100.0% 3.0 97.0 65.6 19.4 9.5 1.5

3.1

0.2

2.5

4.8

5.4

4.5

1.3

1.5

1.1

PERCENT DISTRIBUTION TOTAL WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 221

Table 3.11

Women by Income and Age, 2002: Asian Women

(number and percent distribution of Asian women aged 15 or older by income and age, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2000) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

5,131 994 4,137 819 554 427 377 363 279 231 165 152 139 136 78 78 40 55 37 25 20 15 25 125

909 371 538 214 89 79 61 44 10 10 9 7 6 4 – 1 – 2 – – – – – 2

1,192 219 973 192 74 94 61 93 82 73 46 39 42 50 27 18 5 20 13 3 2 4 9 25

1,062 142 920 175 64 71 91 80 77 67 35 40 39 34 14 23 9 19 7 8 11 6 7 43

895 108 787 88 70 82 72 83 69 56 52 42 27 19 26 20 8 8 13 10 3 4 5 29

522 81 441 87 48 38 39 46 33 21 16 14 14 18 10 6 13 6 3 3 5 1 – 18

551 73 478 63 209 62 54 18 9 4 6 9 11 9 – 9 4 – – – – – 3 8

340 45 295 39 115 33 41 11 7 3 6 7 10 7 – 5 1 – – – – – – 8

211 27 184 24 95 29 13 7 1 1 – 2 – 3 – 5 3 – – – – – 3 –

$17,898

$7,761

$22,337

$22,737

$24,940

$20,584

$9,242

$9,732

$8,503

32,031

19,490

32,259

33,258

31,962

35,757

–

–

–

TOTAL ASIAN WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

37.0%

12.3%

43.3%

50.3%

55.6%

40.0%

5.1%

7.9%

0.5%

100.0% 19.4 80.6 35.1 14.4 18.8 7.5 4.8

100.0% 40.8 59.2 42.0 11.6 4.6 0.8 0.2

100.0% 18.4 81.6 30.2 12.9 23.7 10.1 4.7

100.0% 13.4 86.6 29.2 16.1 24.3 9.3 7.7

100.0% 12.1 87.9 26.8 17.3 27.5 9.1 7.2

100.0% 15.5 84.5 33.1 16.3 18.8 10.2 5.7

100.0% 13.2 86.8 60.6 13.1 7.1 4.0 2.0

100.0% 13.2 86.8 55.0 15.3 9.7 3.8 2.4

100.0% 12.8 87.2 70.1 9.5 1.9 5.2 1.4

PERCENT DISTRIBUTION TOTAL ASIAN WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

222 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.12

Women by Income and Age, 2002: Black Women

(number and percent distribution of black women aged 15 or older by income and age, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) 65 or older TOTAL BLACK WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

14,887 2,222 12,665 1,742 2,327 1,694 1,462 1,124 1,072 845 589 479 295 255 156 154 106 91 52 40 31 22 28 100

3,113 1,245 1,868 722 415 246 174 136 73 45 18 14 7 4 7 2 4 – – – – – – 3

2,848 285 2,563 261 303 306 374 264 275 251 164 119 57 58 23 32 16 21 4 11 3 – 1 18

3,062 209 2,853 238 301 326 400 298 320 229 186 120 117 74 42 48 26 24 21 15 11 14 17 23

2,560 247 2,313 207 315 232 249 228 249 188 132 138 63 78 53 50 33 32 17 9 7 5 7 23

1,522 119 1,403 116 286 217 124 122 117 98 54 70 38 33 27 17 24 9 7 4 9 1 2 25

1,782 117 1,665 198 707 368 140 77 38 34 34 20 13 7 5 5 4 5 2 1 – 1 – 7

972 68 904 116 348 201 81 50 24 19 20 12 11 2 3 2 4 5 – 1 – – – 6

810 48 762 82 360 167 59 28 13 14 14 8 1 6 1 4 – – 2 – – 1 – 1

$16,671

$7,115

$20,539

$22,143

$23,001

$18,144

$9,479

$9,806

$9,221

27,703

19,610

27,471

28,190

30,321

31,158

31,672

–

–

40.7%

16.0%

53.5%

61.7%

57.0%

39.8%

4.8%

6.6%

2.7%

100.0% 14.9 85.1 38.7 17.4 22.0 5.1 1.8

100.0% 40.0 60.0 44.4 10.0 5.0 0.5 0.1

100.0% 10.0 90.0 30.5 22.4 30.4 5.3 1.3

100.0% 6.8 93.2 28.2 22.8 31.7 7.0 3.3

100.0% 9.6 90.4 29.5 18.6 30.1 9.6 2.7

100.0% 7.8 92.2 40.7 16.2 24.8 7.2 3.2

100.0% 6.6 93.4 71.4 12.2 7.8 1.5 0.6

100.0% 7.0 93.0 68.4 13.5 8.8 1.6 0.7

100.0% 5.9 94.1 75.2 10.7 6.2 1.4 0.5

PERCENT DISTRIBUTION TOTAL BLACK WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 223

Table 3.13

Women by Income and Age, 2002: Hispanic Women

(number and percent distribution of Hispanic women aged 15 or older by income and age, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

13,607 3,589 10,018 1,910 1,912 1,625 1,196 884 718 499 340 276 168 136 79 77 33 38 26 18 12 5 5 63

3,169 1,456 1,713 577 363 310 195 97 69 57 12 7 14 3 – 5 2 – – – – – – 3

3,439 864 2,575 436 363 378 323 277 257 166 117 82 48 36 32 22 2 14 1 3 – 3 2 12

2,866 537 2,329 320 301 388 333 249 196 128 122 87 51 41 22 23 10 13 7 6 8 – 3 19

1,903 354 1,549 209 207 253 202 159 130 115 48 63 41 41 13 17 9 9 9 4 3 1 1 17

1,084 244 840 146 212 141 78 68 44 23 32 30 7 12 11 7 5 2 7 4 1 1 – 8

1,147 135 1,012 221 466 157 66 34 23 10 7 7 7 2 – 3 3 1 1 – – – – 3

666 82 584 139 250 81 45 21 15 7 7 5 7 – – 1 3 1 – – – – – 2

480 53 427 82 216 76 21 13 9 3 – 2 – 2 – 2 – – 1 – – – – 1

$13,364

$8,581

$16,443

$16,859

$16,891

$11,880

$7,642

$7,645

$7,639

22,355

16,190

24,082

23,240

24,266

24,030

–

–

–

TOTAL HISPANIC WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

33.7%

17.9%

40.7%

47.5%

46.1%

30.8%

3.9%

5.9%

1.0%

100.0% 26.4 73.6 40.0 15.3 14.7 2.7 0.9

100.0% 45.9 54.1 39.4 9.2 5.0 0.3 0.1

100.0% 25.1 74.9 34.2 17.4 19.5 3.1 0.6

100.0% 18.7 81.3 35.2 20.3 20.4 3.8 1.5

100.0% 18.6 81.4 35.2 19.0 20.9 4.7 1.8

100.0% 22.5 77.5 46.0 13.5 12.5 3.4 1.9

100.0% 11.8 88.2 73.6 8.7 4.7 0.8 0.3

100.0% 12.3 87.7 70.6 9.9 6.2 0.8 0.3

100.0% 11.0 89.0 77.9 7.1 2.9 0.8 0.4

PERCENT DISTRIBUTION TOTAL HISPANIC WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

224 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.14

Women by Income and Age, 2002: Non-Hispanic White Women

(number and percent distribution of non-Hispanic white women aged 15 or older by income and age, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) 65 or older total

15–24

25–34

35–44

45–54

55–64

total

65–74

75+

7,037 74,814 11,969 11,454 9,786 7,540 6,680 5,372 4,806 3,634 3,184 2,046 1,855 1,163 1,070 690 627 493 413 218 249 203 1,360

12,454 3,166 9,288 3,560 1,758 1,404 947 654 346 253 124 102 59 23 10 6 11 8 3 – – 4 – 19

12,075 960 11,115 1,633 956 1,012 1,054 1,198 1,098 1,057 837 664 334 308 208 182 107 100 69 48 33 48 20 149

15,173 953 14,220 2,172 1,273 1,269 1,268 1,418 1,199 1,077 915 887 486 481 309 280 153 194 149 127 69 76 62 354

15,076 797 14,279 1,697 1,181 1,258 1,205 1,382 1,212 1,207 932 873 664 613 373 338 218 186 166 151 76 63 65 418

10,970 842 10,128 1,628 1,360 1,111 963 844 792 693 530 447 310 319 173 187 128 101 95 67 27 37 31 282

16,103 319 15,784 1,279 4,925 3,734 2,105 1,184 724 518 296 212 191 111 90 77 73 37 11 21 13 22 23 137

7,782 153 7,629 668 2,487 1,476 932 590 390 288 157 126 121 81 68 58 47 18 8 11 6 13 17 71

8,320 165 8,155 611 2,439 2,258 1,173 593 335 230 139 87 70 30 23 20 26 20 3 10 7 10 6 67

$17,389

$7,589

$23,396

$23,685

$26,386

$20,010

$11,976

$11,889

$12,036

32,347

20,408

31,725

34,685

35,836

33,797

35,283

35,294

35,252

TOTAL NON-HISPANIC WHITE WOMEN 81,851

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

35.6%

17.5%

50.3%

50.4%

55.1%

38.4%

4.3%

7.6%

1.2%

100.0% 8.6 91.4 40.6 17.4 23.3 6.6 3.6

100.0% 25.4 74.6 54.0 12.9 7.1 0.5 0.2

100.0% 8.0 92.0 29.8 18.7 33.0 7.5 3.0

100.0% 6.3 93.7 31.1 17.7 30.1 9.3 5.5

100.0% 5.3 94.7 27.4 17.2 32.4 11.5 6.2

100.0% 7.7 92.3 37.4 16.5 25.3 8.3 4.9

100.0% 2.0 98.0 61.7 20.4 12.1 2.4 1.4

100.0% 2.0 98.0 59.5 19.6 13.9 3.5 1.6

100.0% 2.0 98.0 63.8 21.2 10.3 1.4 1.2

PERCENT DISTRIBUTION TOTAL NON-HISPANIC WHITE WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 225

Table 3.15

Women by Income, Race, and Hispanic Origin, 2002

(number and percent distribution of women aged 15 or older by income, race, and Hispanic origin, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, yearround; women in thousands as of 2000)

TOTAL WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

total

Asian

black

Hispanic

non-Hispanic white

116,436 13,949 102,487 16,621 16,405 13,658 10,631 9,139 7,487 6,430 4,750 4,116 2,668 2,402 1,484 1,387 877 814 614 504 283 293 265 1,658

5,131 994 4,137 819 554 427 377 363 279 231 165 152 139 136 78 78 40 55 37 25 20 15 25 125

14,887 2,222 12,665 1,742 2,327 1,694 1,462 1,124 1,072 845 589 479 295 255 156 154 106 91 52 40 31 22 28 100

13,607 3,589 10,018 1,910 1,912 1,625 1,196 884 718 499 340 276 168 136 79 77 33 38 26 18 12 5 5 63

81,851 7,037 74,814 11,969 11,454 9,786 7,540 6,680 5,372 4,806 3,634 3,184 2,046 1,855 1,163 1,070 690 627 493 413 218 249 203 1,360

$17,898

$16,671

$13,364

$17,389

Median income Women with income $16,812 Women working full-time 30,970 Percent working full-time 36.0%

32,031 37.0%

27,703 40.7%

22,355 33.7%

32,347 35.6%

100.0% 19.4 80.6 35.1 14.4 18.8 7.5 4.8

100.0% 14.9 85.1 38.7 17.4 22.0 5.1 1.8

100.0% 26.4 73.6 40.0 15.3 14.7 2.7 0.9

100.0% 8.6 91.4 40.6 17.4 23.3 6.6 3.6

PERCENT DISTRIBUTION TOTAL WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 12.0 88.0 40.1 17.0 21.9 6.0 3.1

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

226 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Among Women Who Work Full-Time, Incomes Are Highest in the Northeast Those in the South have the lowest incomes. The median income of all women aged 15 or older does not vary much by region, ranging from a low of $16,223 in the South to a high of $17,283 in the Northeast. Among full-time workers, median income ranges from a low of $29,859 in the South to a high of $33,015 in the Northeast. By region, the percentage of women who work full-time ranges from 34 to 37 percent. Women’s income patterns differ by race and Hispanic origin. Among Asian women who work full-time, median income is highest in the West at $35,356. Incomes also peak in the West among black women who work full-time, at a slightly lower $32,321. For Hispanic women with full-time jobs, median income is much lower, ranging from $21,199 in the South to a peak of just $23,689 in the Northeast. Non-Hispanic white women who work full-time have incomes slightly greater than those of Asians, with a high of $35,938 in the Northeast. Non-Hispanic white women’s median income is lowest in the Midwest, at $31,076. ■ The incomes of Hispanic women will not match those of Asian, non-Hispanic white, and black women until poorly educated immigrants become a smaller share of the Hispanic population.

Women’s median income tops $33,000 only in the Northeast (median income of women aged 15 or older who work full-time, year-round, by region, 2002)

$33,015 $30,411

$29,859

Midwest

South

$30,000

$32,000

$20,000

$10,000

$0

Northeast

West

AMERICAN INCOMES: Demographics of Who Has Money 227

Table 3.16

Women by Income and Region, 2002: Total Women

(number and percent distribution of women aged 15 or older by income and region, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003)

TOTAL WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

total

Northest

Midwest

South

West

116,436 13,949 102,487 16,621 16,405 13,658 10,631 9,139 7,487 6,430 4,750 4,116 2,668 2,402 1,484 1,387 877 814 614 504 283 293 265 1,658

22,617 2,366 20,251 3,088 3,191 2,749 2,064 1,684 1,416 1,189 960 850 591 522 322 316 200 211 169 122 65 62 71 409

26,337 2,404 23,933 3,941 3,724 3,176 2,590 2,275 1,856 1,539 1,067 957 630 541 315 293 187 140 119 113 58 72 39 296

41,738 5,460 36,278 5,967 6,213 4,859 3,822 3,220 2,655 2,305 1,705 1,435 879 793 437 389 272 224 184 147 82 96 82 512

25,744 3,720 22,024 3,624 3,278 2,875 2,155 1,959 1,561 1,397 1,017 874 570 546 410 390 216 238 139 122 76 63 73 441

$16,812

$17,243

$16,921

$16,223

$17,283

30,970

33,015

30,411

29,859

32,000

36.0%

35.4%

36.1%

37.2%

34.5%

100.0% 12.0 88.0 40.1 17.0 21.9 6.0 3.1

100.0% 10.5 89.5 39.9 16.6 22.1 6.9 4.0

100.0% 9.1 90.9 41.2 18.5 23.0 5.6 2.6

100.0% 13.1 86.9 40.8 16.9 21.5 5.1 2.6

100.0% 14.4 85.6 38.0 16.0 21.0 7.0 3.6

PERCENT DISTRIBUTION TOTAL WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

228 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.17

Women by Income and Region, 2002: Asian Women

(number and percent distribution of Asian women aged 15 or older by income and region, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003)

TOTAL ASIAN WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

total

Northeast

Midwest

South

West

5,131 994 4,137 819 554 427 377 363 279 231 165 152 139 136 78 78 40 55 37 25 20 15 25 125

948 204 744 167 84 60 78 59 60 38 22 26 22 24 16 9 4 13 10 5 3 4 7 32

589 125 464 148 48 46 30 35 22 23 12 17 13 19 5 7 5 6 5 3 – 1 4 18

1,091 221 870 175 123 89 73 72 76 52 39 25 28 16 20 12 10 7 10 5 2 4 6 24

2,503 444 2,059 330 299 231 197 196 121 120 92 83 75 79 37 52 20 29 10 12 15 6 8 50

$17,898

$18,668

$13,658

$17,341

$18,965

32,031

31,214

31,162

29,534

35,356

37.0%

37.4%

32.6%

40.1%

36.4%

100.0% 19.4 80.6 35.1 14.4 18.8 7.5 4.8

100.0% 21.5 78.5 32.8 14.5 17.7 7.0 6.4

100.0% 21.2 78.8 41.1 11.0 14.8 7.1 5.3

100.0% 20.3 79.7 35.5 13.3 20.2 6.0 4.7

100.0% 17.7 82.3 34.4 15.7 19.6 8.7 4.0

PERCENT DISTRIBUTION TOTAL ASIAN WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 229

Table 3.18

Women by Income and Region, 2002: Black Women

(number and percent distribution of black women aged 15 or older by income and region, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) total TOTAL BLACK WOMEN 14,887

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

Northeast

Midwest

South

West

2,222 12,665 1,742 2,327 1,694 1,462 1,124 1,072 845 589 479 295 255 156 154 106 91 52 40 31 22 28 100

2,885 476 2,409 325 430 275 263 230 218 164 137 95 58 52 40 38 19 14 10 7 4 5 5 21

2,672 412 2,260 309 421 346 265 191 199 123 112 79 43 40 29 29 21 17 4 7 – 9 3 11

7,983 1,113 6,870 928 1,290 956 841 603 572 471 291 268 151 136 65 65 48 49 27 18 24 3 13 53

1,347 221 1,126 180 185 116 93 101 82 87 49 39 43 28 22 21 19 11 11 8 4 6 7 15

$16,671

$17,738

$15,905

$16,311

$19,485

27,703

29,050

27,516

26,874

32,321

40.7%

41.1%

38.7%

41.9%

36.7%

100.0% 14.9 85.1 38.7 17.4 22.0 5.1 1.8

100.0% 16.5 83.5 35.7 17.1 23.3 5.6 1.8

100.0% 15.4 84.6 40.3 17.1 20.8 5.1 1.3

100.0% 13.9 86.1 39.8 18.1 22.0 4.5 1.7

100.0% 16.4 83.6 35.7 14.4 22.3 7.5 3.8

PERCENT DISTRIBUTION TOTAL BLACK WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

230 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.19

Women by Income and Region, 2002: Hispanic Women

(number and percent distribution of Hispanic women aged 15 or older by income and region, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, yearround; women in thousands as of 2003) total

Northeast

Midwest

South

West

13,607 3,589 10,018 1,910 1,912 1,625 1,196 884 718 499 340 276 168 136 79 77 33 38 26 18 12 5 5 63

2,099 502 1,597 262 321 249 199 144 115 73 55 51 30 27 10 15 9 10 4 6 1 3 1 14

1,081 260 821 175 112 140 102 86 77 30 27 31 18 7 1 3 1 1 2 3 – – – 5

4,824 1,280 3,544 719 752 587 425 287 205 155 112 99 53 52 18 24 4 13 4 3 7 – – 22

5,602 1,546 4,056 754 726 651 470 368 320 242 146 96 66 51 50 34 18 13 16 5 5 2 4 21

$13,364

$14,208

$14,368

$12,081

$14,073

22,355

23,689

21,949

21,199

23,657

TOTAL HISPANIC WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

33.7%

33.7%

37.7%

33.3%

33.3%

100.0% 26.4 73.6 40.0 15.3 14.7 2.7 0.9

100.0% 23.9 76.1 39.6 16.3 15.4 3.4 1.4

100.0% 24.1 75.9 39.5 17.4 16.9 1.2 0.9

100.0% 26.5 73.5 42.7 14.8 12.9 2.3 0.7

100.0% 27.6 72.4 38.0 15.0 15.5 3.0 0.9

PERCENT DISTRIBUTION TOTAL HISPANIC WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 231

Table 3.20

Women by Income and Region, 2002: Non-Hispanic White Women

(number and percent distribution of non-Hispanic white women aged 15 or older by income and region, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, year-round; women in thousands as of 2003) total

Northeast

Midwest

South

West

81,851 7,037 74,814 11,969 11,454 9,786 7,540 6,680 5,372 4,806 3,634 3,184 2,046 1,855 1,163 1,070 690 627 493 413 218 249 203 1,360

16,882 1,230 15,652 2,362 2,384 2,186 1,553 1,252 1,035 925 751 688 481 426 255 256 168 174 144 102 58 52 54 346

21,807 1,573 20,234 3,276 3,102 2,630 2,182 1,951 1,551 1,358 912 825 552 471 275 251 161 115 106 100 58 62 33 262

27,428 2,784 24,644 4,053 3,986 3,176 2,469 2,230 1,795 1,595 1,252 1,028 641 580 333 284 206 155 141 119 49 85 63 402

15,734 1,450 14,284 2,278 1,982 1,793 1,336 1,247 990 927 719 644 371 378 300 278 156 182 102 93 52 50 53 351

$17,389

$17,431

$17,253

$16,928

$18,828

32,347

35,938

31,076

31,405

35,712

TOTAL NON-HISPANIC WHITE WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

35.6%

34.5%

36.0%

36.5%

34.4%

100.0% 8.6 91.4 40.6 17.4 23.3 6.6 3.6

100.0% 7.3 92.7 41.1 16.6 23.0 7.6 4.5

100.0% 7.2 92.8 41.3 19.0 23.8 5.8 2.8

100.0% 10.2 89.8 40.9 17.1 23.0 5.7 3.1

100.0% 9.2 90.8 38.5 16.4 23.2 8.2 4.5

PERCENT DISTRIBUTION TOTAL NON-HISPANIC WHITE WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

232 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Women in Nonmetropolitan Areas Have the Lowest Incomes Those in the suburbs of the nation’s largest metropolitan areas have the highest incomes. Women living in nonmetropolitan areas—the countryside and small towns of America— have the lowest incomes. The median income of women who reside in nonmetropolitan areas and work full-time stood at $25,703 in 2002. The $35,696 median income of their counterparts living in the suburbs of the nation’s largest metropolitan areas is 39 percent higher. Among women with full-time jobs who live in central cities, median income was $30,482. The proportion of women who work full-time varies by metropolitan status. Among women in nonmetropolitan areas, only 33 percent have full-time jobs, lower than the figure for women in central cities or suburbs. Among women in the suburbs of metropolitan areas with populations of 1 million or more, 37 percent work full-time. ■ The nation’s largest metropolitan areas attract the best-educated and most career-oriented women, which is one reason why women there have higher incomes.

Women in the suburbs have the highest incomes (median income of women aged 15 or older working full-time, year-round, by metropolitan residence, 2002)

$32,981 $30,482 $30,000

$25,703 $20,000

$10,000

$0

central cities

suburbs

nonmetropolitan areas

AMERICAN INCOMES: Demographics of Who Has Money 233

Table 3.21

Women by Income and Metropolitan Residence, 2002

(number and percent distribution of women aged 15 or older by income and metropolitan residence, 2002; median income of women with income and of women working full-time, year-round; percent working full-time, yearround; women in thousands as of 2003) in metropolitan area

total

total

total

1 million+

< 1 million

total

1 million+

not in metropolitan < 1 million area

116,436 13,949 102,487 16,621 16,405 13,658 10,631 9,139 7,487 6,430 4,750 4,116 2,668 2,402 1,484 1,387 877 814 614 504 283 293 265 1,658

94,825 11,568 83,257 13,175 12,660 10,788 8,327 7,264 6,047 5,334 4,090 3,567 2,313 2,147 1,343 1,255 806 773 558 461 265 268 250 1,565

34,082 4,584 29,498 4,153 4,976 4,113 3,152 2,755 2,136 1,921 1,405 1,114 704 736 403 419 227 249 177 121 72 89 78 497

21,726 3,296 18,430 2,505 3,024 2,506 1,883 1,671 1,332 1,197 968 730 461 502 260 289 150 181 131 98 52 55 64 369

12,356 1,288 11,068 1,647 1,952 1,608 1,268 1,084 804 724 437 384 244 234 143 130 76 68 46 23 20 33 13 128

60,743 6,984 53,759 9,022 7,685 6,674 5,175 4,508 3,911 3,412 2,686 2,452 1,609 1,411 939 836 580 524 381 340 193 179 173 1,068

42,014 4,848 37,166 6,309 4,931 4,365 3,370 2,940 2,602 2,388 1,954 1,831 1,245 1,038 692 683 449 426 314 284 171 149 149 875

18,729 2,136 16,593 2,713 2,753 2,309 1,806 1,569 1,309 1,024 732 621 363 373 247 153 130 98 67 58 21 32 24 192

21,611 2,381 19,230 3,445 3,745 2,871 2,305 1,875 1,440 1,097 658 550 356 255 142 132 69 40 55 43 19 25 15 93

$16,812

$17,584

$17,029

$17,610

$16,153

$18,044

$19,284

$16,263

$14,055

30,970

31,902

30,482

31,279

28,505

32,981

35,696

29,318

25,703

inside central cities TOTAL WOMEN

Without income With income Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more Median income Women with income Women working full-time Percent working full-time

outside central cities

36.0%

36.7%

36.7%

37.4%

35.5%

36.8%

37.3%

35.6%

32.6%

100.0% 12.0 88.0 40.1 17.0 21.9 6.0

100.0% 12.2 87.8 38.6 16.4 22.5 6.7

100.0% 13.4 86.6 38.9 17.3 21.4 6.0

100.0% 15.2 84.8 37.0 16.4 21.6 6.4

100.0% 10.4 89.6 42.1 19.0 21.0 5.3

100.0% 11.5 88.5 38.5 15.9 23.2 7.1

100.0% 11.5 88.5 37.1 15.0 23.8 7.8

100.0% 11.4 88.6 41.5 18.0 21.6 5.3

100.0% 11.0 89.0 46.6 19.3 19.0 3.0

3.1

3.6

3.0

3.5

2.1

3.8

4.6

2.1

1.2

PERCENT DISTRIBUTION TOTAL WOMEN

Without income With income Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

234 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Women Earn Little from Part-Time Work Because women’s incomes are increasingly important to their families, most women workers have full-time jobs. Among the nation’s 116 million women aged 15 or older, 61 percent worked during 2002. Among working women, nearly 42 million (59 percent) worked full-time, year-round. The median earnings of full-time, year-round workers stood at $30,203—41 percent higher than the $21,429 median earnings of all women. The 20 million with part-time jobs earned a median of just $7,303. Among Asian women working full-time, year-round, median earnings stood at $31,460 in 2002. Non-Hispanic white women who worked full-time, year-round had a slightly lower median of $31,402. The median earnings of black women who work full-time, year-round were a smaller $26,912. The earnings of Hispanic women who work full-time, year-round were the lowest, at $21,910. Among non-Hispanic white women who work, the 57 percent majority have full-time, year-round jobs. Among Hispanic women who work, the percentage with full-time, year-round jobs is a higher 60 percent. For Asian women the proportion is higher still at 63 percent. For black women the figure is highest, at 66 percent. ■ Among working women, most have full-time jobs because part-time work pays little and offers few benefits.

Among women working full-time, Asians have the highest median earnings (median earnings of women aged 15 or older working full-time, year-round, by race and Hispanic origin, 2002)

$31,460 $30,000

$31,402 $26,912 $21,910

$20,000

$10,000

$0

Asian

black

Hispanic

non-Hispanic white

AMERICAN INCOMES: Demographics of Who Has Money 235

Table 3.22

Women by Earnings and Work Experience, 2002: Total Women

(number and percent distribution of women aged 15 or older with earnings by work experience and median earnings, 2002; women in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

Total women with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999

71,411 9,964 7,357 8,065

51,578 2,538 2,848 4,998

41,876 549 979 3,552

19,833 7,425 4,509 3,067

10,110 1,596 2,553 2,192

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999

7,473 7,527 6,321 5,685 4,213 3,761 2,209

5,906 6,441 5,641 5,174 3,945 3,534 2,126

4,836 5,701 5,033 4,678 3,652 3,235 1,925

1,567 1,087 680 511 268 227 84

1,191 811 559 420 212 195 63

$50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999

2,227 1,219 1,209 711 675 563

2,096 1,165 1,164 683 651 534

1,919 1,022 1,050 622 596 507

131 53 47 28 24 29

119 43 44 11 10 24

$80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

407 207 216 183 1,223

401 206 213 176 1,140

381 192 204 166 1,076

7 1 3 7 83

7 – 3 – 57

$21,429

$27,029

$30,203

$7,303

$11,455

Median earnings

PERCENT DISTRIBUTION

Total women with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 35.5 21.0 31.1 8.5 3.9

100.0% 20.1 23.9 39.6 11.2 5.2

100.0% 12.1 25.2 44.2 12.4 6.0

100.0% 75.6 13.4 8.9 1.4 0.7

100.0% 62.7 19.8 14.3 2.2 0.9

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

236 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.23

Women by Earnings and Work Experience, 2002: Asian Women

(number and percent distribution of Asian women aged 15 or older with earnings by work experience and median earnings, 2002; women in thousands as of 2003) worked full-time

Asian women with earnings

worked part-time

total

total

year-round

total

year-round

3,001

2,295

1,889

706

354

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

379 250 311 286 317 256

115 107 214 230 268 235

31 41 144 204 236 206

264 142 98 57 49 21

48 83 64 42 39 16

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

225 148 154 116 128 68

203 133 150 107 121 63

175 120 131 100 111 58

23 16 4 8 7 5

21 14 4 3 6 5

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

69 35 51 35 20 17

65 33 51 35 20 17

60 31 44 35 20 17

4 2 – – – –

4 – – – – –

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

12 10 114

12 8 109

12 5 106

– 3 4

– – 4

$23,724

$29,257

$31,460

$7,481

$12,658

Median earnings

PERCENT DISTRIBUTION

Asian women with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 31.3

100.0% 19.0

100.0% 11.4

100.0% 71.4

100.0% 55.1

20.1 30.0 11.7 6.9

21.7 36.1 14.5 8.8

23.3 38.8 16.1 10.3

15.0 10.2 2.5 1.0

22.9 16.4 4.2 1.1

Note: Earnings include wages and salary only. The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 237

Table 3.24

Women by Earnings and Work Experience, 2002: Black Women

(number and percent distribution of black women aged 15 or older with earnings by work experience and median earnngs, 2002; women in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

Black women with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999

9,237 1,171 927 1,088

7,409 408 489 820

6,060 78 177 614

1,828 763 438 268

846 127 256 191

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

1,178 1,014 962 761 541 434

1,020 928 924 736 517 426

895 826 845 672 495 402

157 86 40 24 24 8

126 58 30 21 16 7

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

268 242 131 148 76 77

266 235 129 147 71 77

247 211 120 143 60 73

2 7 1 1 5 –

1 7 – 1 5 –

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

54 31 18 19 19 75

54 31 18 19 19 74

49 31 18 18 15 69

– – – – – 2

– – – – – –

$20,913

$25,154

$26,912

$6,444

$10,692

Median earnings

PERCENT DISTRIBUTION

Black women with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 34.5 23.7 32.1 7.3

100.0% 23.2 26.3 38.7 8.9

100.0% 14.3 28.4 43.9 10.0

100.0% 80.4 13.3 5.4 0.8

2.3

2.9

3.3

0.1

100.0% 67.8 21.7 8.9 1.5 –

Note: Earnings include wages and salary only. The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

238 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.25

Women by Earnings and Work Experience, 2002: Hispanic Women

(number and percent distribution of Hispanic women aged 15 or older with earnings by work experience and median earnings, 2002; women in thousands as of 2003) worked full-time

worked part-time

total

total

year-round

total

year-round

Hispanic women with earnings Under $5,000 $5,000 to $9,999 $10,000 to $14,999

7,598 1,008 1,078 1,356

5,805 343 566 1,071

4,582 61 216 864

1,793 665 511 285

904 129 300 209

$15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999 $30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999

1,042 810 682 474 303 266

910 759 609 438 298 252

776 702 522 402 281 239

132 50 72 36 6 14

103 40 61 29 6 14

$45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999 $60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999

156 130 61 62 27 38

149 127 58 60 24 38

138 115 51 57 23 36

7 3 3 2 3 –

4 3 2 2 2 –

$75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999 $90,000 to $94,999 $95,000 to $99,999 $100,000 or more

18 13 9 5 4 55

18 13 8 5 4 55

18 13 8 5 4 51

– – 1 – – –

– – – – – –

$16,285

$20,062

$21,910

$6,835

$10,388

Median earnings

PERCENT DISTRIBUTION

Hispanic women with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 45.3 24.4 24.8 4.2

100.0% 34.1 28.8 30.1 5.3

100.0% 24.9 32.3 34.5 6.2

100.0% 81.5 10.2 7.5 0.6

1.4

1.8

2.2

0.1

100.0% 70.6 15.8 12.6 1.0 –

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 239

Table 3.26

Women by Earnings and Work Experience, 2002: Non-Hispanic White Women

(number and percent distribution of non-Hispanic white women aged 15 or older with earnings by work experience and median earnings, 2002; women in thousands as of 2003) worked full-time

Non-Hispanic white women with earnings

worked part-time

total

total

year-round

total

year-round

51,008

35,706

29,102

15,301

7,930

Under $5,000 $5,000 to $9,999 $10,000 to $14,999 $15,000 to $19,999 $20,000 to $24,999 $25,000 to $29,999

7,259 5,029 5,255 4,939 5,322 4,381

1,629 1,654 2,862 3,730 4,431 3,840

374 539 1,924 2,951 3,889 3,432

5,630 3,375 2,392 1,209 890 541

1,275 1,890 1,712 914 667 451

$30,000 to $34,999 $35,000 to $39,999 $40,000 to $44,999 $45,000 to $49,999 $50,000 to $54,999 $55,000 to $59,999

4,192 3,190 2,891 1,654 1,709 955

3,773 2,968 2,692 1,587 1,596 911

3,403 2,728 2,454 1,425 1,468 785

419 222 199 67 113 43

342 179 169 55 103 36

$60,000 to $64,999 $65,000 to $69,999 $70,000 to $74,999 $75,000 to $79,999 $80,000 to $84,999 $85,000 to $89,999

925 569 503 451 335 162

886 550 479 422 330 162

786 503 438 400 310 148

39 18 24 29 7 –

36 4 10 24 7 –

$90,000 to $94,999 $95,000 to $99,999 $100,000 or more

176 141 973

173 137 896

166 134 845

3 5 77

3 – 53

$22,197

$29,450

$31,402

$7,503

$11,652

Median earnings

PERCENT DISTRIBUTION

Non-Hispanic white women with earnings Under $15,000 $15,000 to $24,999 $25,000 to $49,999 $50,000 to $74,999 $75,000 or more

100.0% 34.4

100.0% 17.2

100.0% 9.7

100.0% 74.5

100.0% 61.5

20.1 32.0 9.1 4.4

22.9 41.6 12.4 5.9

23.5 46.2 13.7 6.9

13.7 9.5 1.5 0.8

19.9 15.1 2.4 1.1

Note: Earnings include wages and salary only. The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

240 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Women with Doctoral Degrees Earn the Most Those who dropped out of high school earn the least. The more highly educated the woman, the more she earns. Among women with at least a bachelor’s degree who work full-time, median earnings were $43,245 in 2002. One in eight earned $75,000 or more. For full-time workers who went no further than high school, median earnings stood at a much lower $25,182. Women with doctoral degrees had the highest earnings of all, a median of $65,715. Those with professional degrees (doctors and lawyers) had median earnings of $57,018 in 2002. By age and education, women aged 45 to 54 with a doctoral degree have the highest earnings, a median of $70,793 in 2002. Forty-four percent had incomes of $75,000 or more. Even the youngest women benefit from getting more education. Women aged 25 to 34 with at least a bachelor’s degree earned $40,069. Their counterparts who went no further than high school earned just $23,399. ■ Among 25-to-34-year-olds, women are better educated than men. As well-educated, career-oriented women enter middle age, the earnings of women with college degrees are likely to grow.

Women’s earnings rise with education (median earnings of women aged 25 or older who work full-time, year-round, by educational attainment, 2002)

$65,715 $57,018 $48,890

$50,000

$40,853 $29,400

$31,625

$25,182 $25,000

$16,510

$19,307

$0

less than 9th grade

9th–12th grade, no diploma

high school some college graduate

associate’s degree

bachelor’s degree

master’s degree

professional degree

doctoral degree

AMERICAN INCOMES: Demographics of Who Has Money 241

Table 3.27

Women Who Work Full-Time by Earnings and Education, 2002: Total Women

(number and percent distribution of women aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Total women working full-time

38,510

858

1,841

11,687

7,354

4,285

12,484

8,229

3,281

572

402

Under $5,000

449

14

20

188

80

38

109

87

20

2

–

$5,000 to $9,999

767

54

117

316

149

64

67

56

11

–

–

$10,000 to $14,999

2,855

278

405

1,210

500

193

270

206

55

3

6

$15,000 to $19,999

4,032

210

424

1,845

767

396

390

299

67

15

9

$20,000 to $24,999

5,055

157

360

2,187

1,162

552

635

545

77

9

4

$25,000 to $29,999

4,746

58

224

1,813

1,114

617

920

753

144

10

13

$30,000 to $34,999

4,391

40

92

1,443

908

593

1,314

959

303

42

10

$35,000 to $39,999

3,522

20

77

782

758

497

1,387

958

345

49

35

$40,000 to $44,999

3,152

11

53

717

636

394

1,342

900

369

55

18

$45,000 to $49,999

1,860

4

20

342

274

238

980

617

311

33

19

$50,000 to $54,999

1,896

1

18

215

325

251

1,086

625

371

49

41

$55,000 to $59,999

1,009

2

1

124

176

127

579

369

166

29

17

$60,000 to $64,999

1,044

2

9

143

119

95

676

397

228

28

23

$65,000 to $69,999

609

1

1

85

72

45

404

215

146

21

22

$70,000 to $74,999

590

1

8

79

69

50

384

224

115

23

22

$75,000 to $79,999

507

2

–

49

58

38

359

195

113

23

29

$80,000 to $84,999

381

–

4

33

46

16

280

158

84

26

11

$85,000 to $89,999

188

–

–

4

11

10

164

94

49

14

7

$90,000 to $94,999

204

–

1

9

15

19

160

99

33

15

13

166

–

–

9

11

12

133

44

59

20

11

1,062

–

5

78

101

36

841

427

217

105

92

$95,000 to $99,999 $100,000 or more Median earnings

$31,010 $16,510 $19,307 $25,182 $29,400 $31,625 $43,245 $40,853 $48,890 $57,018 $65,715

PERCENT DISTRIBUTION

Total women working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

10.6

40.3

29.4

14.7

9.9

6.9

3.6

4.2

2.6

0.9

$15,000 to $24,999

23.6

42.8

42.6

34.5

26.2

22.1

8.2

10.3

4.4

4.2

3.2

$25,000 to $49,999

45.9

15.5

25.3

43.6

50.2

54.6

47.6

50.9

44.9

33.0

23.6

$50,000 to $74,999

13.4

0.8

2.0

5.5

10.3

13.3

25.1

22.2

31.3

26.2

31.1

6.5

0.2

0.5

1.6

3.3

3.1

15.5

12.4

16.9

35.5

40.5

$75,000 or more

1.5

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

242 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.28

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 25 to 34

(number and percent distribution of women aged 25 to 34 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

9,519

152

452

2,347

1,914

1,014

3,640

2,704

710

159

68

90

6

11

27

12

11

22

20

1

–

–

$5,000 to $9,999

244

11

36

86

68

21

21

17

3

–

–

$10,000 to $14,999

773

57

131

287

155

57

85

63

22

–

–

master’s professional degree degree

doctoral degree

Women aged 25 to 34 working full-time Under $5,000

$15,000 to $19,999

1,070

37

94

441

250

130

119

93

21

3

1

$20,000 to $24,999

1,308

23

77

435

371

168

234

200

32

–

2

$25,000 to $29,999

1,340

11

47

421

355

165

343

292

46

5

–

$30,000 to $34,999

1,184

5

21

283

245

142

489

387

86

12

3

$35,000 to $39,999

946

2

16

136

191

102

497

371

106

6

15

$40,000 to $44,999

732

1

8

102

115

75

430

311

90

21

7

$45,000 to $49,999

406

–

4

45

43

43

272

195

59

11

7

$50,000 to $54,999

391

–

–

20

44

34

293

204

68

16

4

$55,000 to $59,999

214

–

1

17

24

18

154

118

25

11

1

$60,000 to $64,999

221

–

1

10

17

17

176

117

50

4

4

$65,000 to $69,999

80

–

–

1

2

4

72

44

22

5

–

$70,000 to $74,999

128

–

2

10

4

11

101

74

16

12

–

$75,000 to $79,999

75

–

–

2

5

9

59

34

14

7

5

$80,000 to $84,999

42

–

–

4

3

–

35

24

1

8

–

$85,000 to $89,999

33

–

–

–

–

1

32

26

5

1

–

$90,000 to $94,999

53

–

–

5

1

3

45

30

1

8

5

$95,000 to $99,999

29

–

–

–

–

2

27

3

15

10

–

155

–

2

12

7

3

131

77

26

17

11

$29,655 $15,250 $17,085 $23,399 $26,097 $28,155 $40,069 $38,224 $41,344 $56,243

–

$100,000 or more Median earnings

PERCENT DISTRIBUTION

Women aged 25 to 34 working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

11.6

48.7

39.4

17.0

12.3

8.8

3.5

3.7

3.7

–

–

$15,000 to $24,999

25.0

39.5

37.8

37.3

32.4

29.4

9.7

10.8

7.5

1.9

4.4

$25,000 to $49,999

48.4

12.5

21.2

42.1

49.6

52.0

55.8

57.5

54.5

34.6

47.1

$50,000 to $74,999

10.9

–

0.9

2.5

4.8

8.3

21.9

20.6

25.5

30.2

13.2

4.1

–

0.4

1.0

0.8

1.8

9.0

7.2

8.7

32.1

30.9

$75,000 or more

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 243

Table 3.29

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 35 to 44

(number and percent distribution of women aged 35 to 44 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Women aged 35 to 44 working full-time

11,520

250

581

3,566

2,124

1,408

3,591

2,467

816

186

122

Under $5,000

129

4

4

45

27

15

34

30

3

–

–

$5,000 to $9,999

211

16

39

96

27

16

17

17

–

–

–

$10,000 to $14,999

842

73

138

358

153

57

64

57

7

–

–

$15,000 to $19,999

1,294

81

144

605

226

129

109

98

3

8

1

$20,000 to $24,999

1,544

47

100

724

343

181

151

138

7

4

1

$25,000 to $29,999

1,355

15

87

516

309

172

257

219

29

3

7

$30,000 to $34,999

1,213

10

27

370

253

212

341

252

70

14

5

$35,000 to $39,999

1,064

–

15

260

235

159

397

270

103

18

6

$40,000 to $44,999

962

1

8

221

178

149

406

272

112

17

6

$45,000 to $49,999

524

–

6

98

81

86

251

165

71

11

3

$50,000 to $54,999

549

1

5

76

84

87

295

184

87

11

14

$55,000 to $59,999

281

–

–

49

54

33

145

94

39

6

8

$60,000 to $64,999

296

–

2

35

38

31

189

122

51

6

9

$65,000 to $69,999

191

–

1

27

18

21

124

84

31

3

7

$70,000 to $74,999

202

–

–

28

27

19

128

80

36

6

6

$75,000 to $79,999

167

–

–

16

19

14

119

77

32

1

10

$80,000 to $84,999

152

–

4

10

19

8

110

61

28

13

7

$85,000 to $89,999

70

–

–

–

6

4

60

41

11

5

3

$90,000 to $94,999

70

–

–

3

3

4

61

45

10

5

–

$95,000 to $99,999

55

–

–

5

–

–

50

19

23

4

4

339

–

–

17

26

12

283

142

65

51

26

$100,000 or more Median earnings

$31,039 $16,403 $18,483 $24,568 $29,418 $32,223 $45,312 $41,737 $50,125 $61,296 $65,528

PERCENT DISTRIBUTION

Women aged 35 to 44 working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

10.3

37.2

31.2

14.0

9.7

6.3

3.2

4.2

1.2

–

–

$15,000 to $24,999

24.6

51.2

42.0

37.3

26.8

22.0

7.2

9.6

1.2

6.5

1.6

$25,000 to $49,999

44.4

10.4

24.6

41.1

49.7

55.3

46.0

47.8

47.2

33.9

22.1

$50,000 to $74,999

13.2

0.4

1.4

6.0

10.4

13.6

24.5

22.9

29.9

17.2

36.1

7.4

–

0.7

1.4

3.4

3.0

19.0

15.6

20.7

42.5

41.0

$75,000 or more

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

244 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.30

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 45 to 54

(number and percent distribution of women aged 45 to 54 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Women aged 45 to 54 working full-time

11,204

246

445

3,525

2,084

1,316

3,589

2,149

1,166

142

131

Under $5,000

121

–

2

61

23

8

25

17

8

2

–

$5,000 to $9,999

170

9

24

78

27

17

16

8

7

–

–

$10,000 to $14,999

750

96

65

332

120

55

82

59

16

3

4

$15,000 to $19,999

1,046

48

106

515

168

109

101

74

20

5

2

$20,000 to $24,999

1,375

46

124

611

288

147

159

136

19

3

1

$25,000 to $29,999

1,304

22

54

547

282

184

215

168

41

1

5

$30,000 to $34,999

1,288

9

23

479

275

176

328

239

80

7

–

$35,000 to $39,999

993

4

20

236

240

150

343

226

94

20

3

$40,000 to $44,999

954

4

14

231

217

121

365

236

111

14

4

$45,000 to $49,999

631

4

3

111

87

82

344

202

125

10

7

$50,000 to $54,999

646

–

5

92

120

77

352

161

168

10

15

$55,000 to $59,999

347

2

–

41

48

64

192

105

75

5

8

$60,000 to $64,999

360

–

3

67

46

40

206

110

79

10

6

$65,000 to $69,999

208

1

–

30

34

16

126

62

50

7

8

$70,000 to $74,999

170

–

1

27

25

15

102

44

45

1

12

$75,000 to $79,999

165

–

–

22

14

9

121

57

44

8

11

$80,000 to $84,999

141

–

–

11

19

7

102

50

44

5

4

$85,000 to $89,999

63

–

–

4

4

5

50

22

22

3

3

$90,000 to $94,999

58

–

–

1

6

13

40

20

14

1

3

$95,000 to $99,999

58

–

–

4

1

10

42

18

15

4

5

349

–

1

23

39

8

277

136

85

24

31

$100,000 or more Median earnings

$32,106 $16,419 $20,621 $26,069 $31,664 $32,871 $46,941 $41,858 $51,345 $53,156 $70,793

PERCENT DISTRIBUTION

Women aged 45 to 54 working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

9.3

42.7

20.4

13.4

8.2

6.1

3.4

3.9

2.7

3.5

$15,000 to $24,999

21.6

38.2

51.7

31.9

21.9

19.5

7.2

9.8

3.3

5.6

2.3

$25,000 to $49,999

46.1

17.5

25.6

45.5

52.8

54.2

44.4

49.8

38.7

36.6

14.5

$50,000 to $74,999

15.4

1.2

2.0

7.3

13.1

16.1

27.2

22.4

35.8

23.2

37.4

7.4

–

0.2

1.8

4.0

4.0

17.6

14.1

19.2

31.7

43.5

$75,000 or more

3.1

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 245

Table 3.31

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 55 to 64

(number and percent distribution of women aged 55 to 64 working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

5,412

153

304

1,903

1,076

494

1,481

814

533

66

69

90

1

3

45

15

4

21

13

8

–

–

$5,000 to $9,999

106

13

15

37

19

10

13

13

–

–

–

$10,000 to $14,999

408

43

56

194

62

20

32

21

9

–

2 5

master’s professional degree degree

doctoral degree

Women aged 55 to 64 working full-time Under $5,000

$15,000 to $19,999

507

33

70

227

113

26

39

16

17

–

$20,000 to $24,999

690

29

46

346

137

51

82

67

13

2

–

$25,000 to $29,999

673

10

33

296

147

92

92

67

24

–

2

$30,000 to $34,999

611

11

14

275

117

59

134

72

54

9

–

$35,000 to $39,999

463

5

24

130

86

78

140

83

43

4

11

$40,000 to $44,999

453

5

21

139

114

48

128

74

54

–

–

$45,000 to $49,999

266

–

7

76

48

23

112

53

54

1

2

$50,000 to $54,999

272

–

8

27

67

44

127

67

44

10

6

$55,000 to $59,999

147

–

–

15

49

9

74

47

24

2

1

$60,000 to $64,999

147

2

3

24

15

6

99

47

47

3

3

$65,000 to $69,999

114

–

–

18

18

3

75

24

40

6

5

$70,000 to $74,999

82

–

5

15

9

3

51

26

16

5

4

$75,000 to $79,999

91

2

–

11

18

7

53

26

19

6

2

$80,000 to $84,999

43

–

–

7

6

–

29

21

7

–

1

$85,000 to $89,999

19

–

–

–

1

–

18

3

10

4

1

$90,000 to $94,999

18

–

1

–

5

–

11

4

4

1

2

$95,000 to $99,999

21

–

–

–

10

–

11

2

6

2

–

193

–

–

21

22

12

138

67

39

11

20

$31,294 $16,844 $20,742 $26,194 $31,294 $32,991 $47,413 $42,181 $49,166

–

–

$100,000 or more Median earnings

PERCENT DISTRIBUTION

Women aged 55 to 64 working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

11.2

37.3

24.3

14.5

8.9

6.9

4.5

5.8

3.2

–

$15,000 to $24,999

22.1

40.5

38.2

30.1

23.2

15.6

8.2

10.2

5.6

3.0

7.2

$25,000 to $49,999

45.6

20.3

32.6

48.1

47.6

60.7

40.9

42.9

43.0

21.2

21.7

$50,000 to $74,999

14.1

1.3

5.3

5.2

14.7

13.2

28.8

25.9

32.1

39.4

27.5

7.1

1.3

0.3

2.0

5.8

3.8

17.6

15.1

15.9

36.4

37.7

$75,000 or more

2.9

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

246 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.32

Women Who Work Full-Time by Earnings and Education, 2002: Women Aged 65 or Older

(number and percent distribution of women aged 65 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2000) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Total women aged 65 or older working full-time

855

57

60

346

156

53

184

95

57

19

13

Under $5,000

20

2

–

8

3

–

7

7

1

–

–

$5,000 to $9,999

36

5

2

18

9

–

1

1

–

–

–

$10,000 to $14,999

80

7

16

39

10

3

6

6

–

–

–

$15,000 to $19,999

117

12

11

58

11

2

22

16

5

–

–

$20,000 to $24,999

137

11

15

73

23

6

9

4

5

–

–

$25,000 to $29,999

73

–

2

33

21

3

13

9

4

1

–

$30,000 to $34,999

94

7

7

35

18

4

22

9

13

–

–

$35,000 to $39,999

55

9

1

22

7

8

8

8

–

–

–

$40,000 to $44,999

51

1

2

24

11

2

11

6

3

2

–

$45,000 to $49,999

35

–

1

12

15

5

2

2

–

–

–

$50,000 to $54,999

39

–

–

1

10

9

19

10

3

2

2

$55,000 to $59,999

21

–

–

2

2

4

13

5

3

5

–

$60,000 to $64,999

19

–

1

8

4

1

6

–

2

4

–

$65,000 to $69,999

16

–

–

8

–

1

7

2

3

–

2

$70,000 to $74,999

8

1

–

–

3

2

1

–

1

–

–

$75,000 to $79,999

10

–

–

–

2

–

8

2

4

–

2

$80,000 to $84,999

4

–

–

–

–

–

4

–

4

–

–

$85,000 to $89,999

3

–

–

–

–

–

3

1

–

2

–

$90,000 to $94,999

4

–

–

–

–

–

4

–

3

–

1

$95,000 to $99,999

3

–

–

–

–

–

3

3

–

–

–

26

–

1

4

6

2

12

4

2

3

4

$27,194

–

– $22,708 $30,097

– $40,606 $31,564

–

–

–

$100,000 or more Median earnings

PERCENT DISTRIBUTION

Total women aged 65 or older working full-time 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

15.9

24.6

30.0

18.8

14.1

5.7

7.6

14.7

1.8

–

–

$15,000 to $24,999

29.7

40.4

43.3

37.9

21.8

15.1

16.8

21.1

17.5

–

–

$25,000 to $49,999

36.0

29.8

21.7

36.4

46.2

41.5

30.4

35.8

35.1

15.8

–

$50,000 to $74,999

12.0

1.8

1.7

5.5

12.2

32.1

25.0

17.9

21.1

57.9

30.8

5.8

–

1.7

1.2

5.1

3.8

18.5

10.5

22.8

26.3

53.8

$75,000 or more

Note: Earnings include wages and salary only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 247

Education Boosts Earnings Regardless of Race Asian women with college degrees earn the most. The earnings of women vary much more by educational level than by race and Hispanic origin. Among full-time workers with at least a bachelor’s degree, Asian women have the highest earning—but not by much. Their median income stood at $46,807 in 2002. NonHispanic white women ranked second, with median earnings of $43,736. Black women with at least a bachelor’s degree earned a median of $41,713 in 2002, while their Hispanic counterparts earned $40,118. Regardless of race or Hispanic origin, earnings were lowest among women with the least education. Among women who went no further than high school, earnings ranged from a low of $21,885 for Hispanics to a high of $25,886 for non-Hispanic whites. ■ Because the educational attainment of black women is rising, their earnings will approach those of Asians and non-Hispanic whites in the years ahead. The educational attainment of Hispanics will not rise much until immigrants become a smaller share of the Hispanic population.

Among women with a bachelor’s degree, earnings are similar by race and Hispanic origin (median income of women aged 25 or older with a bachelor’s degree who work full-time, year-round, by race and Hispanic origin, 2002)

$46,807

$43,736

$41,713

$40,118

black

Hispanic

$40,000

$20,000

$0

Asian

248 AMERICAN INCOMES: Demographics of Who Has Money

non-Hispanic white

WOMEN’S INCOME, 2002

Table 3.33

Women Who Work Full-Time by Earnings and Education, 2002: Asian Women

(number and percent distribution of Asian women aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Asian women working full-time

1,784

68

67

374

212

136

928

615

208

57

47

Under $5,000

31

–

–

11

3

–

16

12

4

–

–

$5,000 to $9,999

35

2

3

8

11

5

7

3

4

–

–

$10,000 to $14,999

126

18

15

45

11

8

30

22

8

–

–

$15,000 to $19,999

169

20

14

67

15

17

34

30

2

1

1

$20,000 to $24,999

215

14

24

75

33

14

55

50

4

–

2

$25,000 to $29,999

205

6

3

68

47

16

66

51

7

4

4

$30,000 to $34,999

170

3

3

45

26

19

74

62

6

3

3

$35,000 to $39,999

112

2

4

6

16

14

71

49

18

2

2

$40,000 to $44,999

124

1

–

16

17

13

78

52

20

5

–

$45,000 to $49,999

95

–

–

7

4

10

76

57

13

5

1

$50,000 to $54,999

109

–

–

3

15

7

83

52

22

6

3

$55,000 to $59,999

58

–

–

7

9

2

40

30

8

–

2

$60,000 to $64,999

60

–

–

2

4

1

54

29

21

4

–

$65,000 to $69,999

31

1

–

–

–

2

27

19

8

–

–

$70,000 to $74,999

44

–

2

2

–

5

35

18

10

6

2

$75,000 to $79,999

35

–

–

–

–

–

34

10

14

6

5

$80,000 to $84,999

20

–

–

1

–

–

19

10

5

–

4

$85,000 to $89,999

17

–

–

–

–

–

17

12

5

–

–

$90,000 to $94,999

12

–

–

1

–

–

11

9

1

2

–

$95,000 to $99,999

5

–

–

–

–

–

5

–

3

2

–

1

2

3

98

40

$100,000 or more Median earnings

104

–

–

25

13

19

$31,981

–

– $22,301 $27,161 $31,082 $46,807 $41,559 $52,109

–

–

PERCENT DISTRIBUTION

Asian women working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

10.8

29.4

26.9

17.1

11.8

9.6

5.7

6.0

7.7

–

–

$15,000 to $24,999

21.5

50.0

56.7

38.0

22.6

22.8

9.6

13.0

2.9

1.8

6.4

$25,000 to $49,999

39.6

17.6

14.9

38.0

51.9

52.9

39.3

44.1

30.8

33.3

21.3

$50,000 to $74,999

16.9

1.5

3.0

3.7

13.2

12.5

25.8

24.1

33.2

28.1

14.9

$75,000 or more

10.8

–

–

0.8

0.9

2.2

19.8

13.2

25.5

40.4

59.6

Note: Earnings include wages and salaries only. The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 249

Table 3.34

Women Who Work Full-Time by Earnings and Education, 2002: Black Women

(number and percent distribution of black women aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

5,564

96

411

1,778

1,282

597

1,400

985

332

61

22

55

–

3

27

12

8

6

4

–

2

–

$5,000 to $9,999

146

4

29

56

44

6

6

5

1

–

–

$10,000 to $14,999

519

26

96

222

109

41

25

20

2

2

–

$15,000 to $19,999

776

32

111

349

159

64

60

43

10

8

–

$20,000 to $24,999

730

18

67

327

186

62

71

60

9

2

–

master’s professional degree degree

doctoral degree

Black women working full-time Under $5,000

$25,000 to $29,999

796

3

41

275

249

110

121

108

13

–

–

$30,000 to $34,999

641

4

27

216

151

86

159

108

48

2

–

$35,000 to $39,999

473

3

25

95

105

71

173

128

42

2

1

$40,000 to $44,999

392

3

9

81

103

65

133

95

29

7

2

$45,000 to $49,999

239

–

5

35

46

14

140

96

34

5

4

$50,000 to $54,999

208

–

–

33

46

23

107

80

26

–

1

$55,000 to $59,999

115

2

–

19

16

10

68

43

22

2

1

$60,000 to $64,999

143

–

–

10

25

8

100

82

18

–

–

$65,000 to $69,999

57

–

–

7

6

10

34

15

16

–

2

$70,000 to $74,999

73

–

–

9

11

9

45

30

9

6

–

$75,000 to $79,999

49

–

–

–

10

5

34

22

13

–

–

$80,000 to $84,999

31

–

–

2

1

–

27

9

9

9

–

$85,000 to $89,999

18

–

–

–

–

2

16

5

6

2

3

$90,000 to $94,999

18

–

1

–

–

1

15

6

5

1

3

$95,000 to $99,999

15

–

–

3

–

–

12

3

8

1

–

$100,000 or more

68

–

–

13

4

3

47

22

11

10

5

$27,683 $17,209 $18,212 $23,010 $26,845 $30,387 $41,713 $40,507 $46,404

–

–

Median earnings

PERCENT DISTRIBUTION

Black women working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

12.9

31.3

31.1

17.2

12.9

9.2

2.6

2.9

0.9

6.6

$15,000 to $24,999

27.1

52.1

43.3

38.0

26.9

21.1

9.4

10.5

5.7

16.4

–

$25,000 to $49,999

45.7

13.5

26.0

39.5

51.0

58.0

51.9

54.3

50.0

26.2

31.8

$50,000 to $74,999

10.7

2.1

–

4.4

8.1

10.1

25.3

25.4

27.4

13.1

18.2

3.6

–

0.2

1.0

1.2

1.8

10.8

6.8

15.7

37.7

50.0

$75,000 or more

–

Note: Earnings includes wages and salaries only. The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

250 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.35

Women Who Work Full-Time by Earnings and Education, 2002: Hispanic Women

(number and percent distribution of Hispanic women aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003) bachelor’s degree or more

total

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

4,018

575

497

1,274

705

293

674

501

131

21

39

8

3

11

5

3

9

7

2

–

–

$5,000 to $9,999

164

37

45

47

21

7

5

5

–

–

–

$10,000 to $14,999

692

217

136

202

77

21

39

33

5

1

–

$15,000 to $19,999

651

138

117

260

75

37

25

23

2

–

–

$20,000 to $24,999

626

97

89

235

122

44

41

34

4

1

–

$25,000 to $29,999

482

43

59

184

106

38

52

47

3

1

–

$30,000 to $34,999

357

21

15

135

91

21

75

55

15

2

3

$35,000 to $39,999

273

4

14

68

63

36

88

69

15

2

1

$40,000 to $44,999

233

4

12

62

56

27

70

50

19

1

–

$45,000 to $49,999

127

–

2

27

28

18

52

38

12

1

–

$50,000 to $54,999

112

1

2

15

25

17

52

34

14

–

5

$55,000 to $59,999

51

–

1

2

9

9

30

22

8

–

1

$60,000 to $64,999

55

2

1

5

11

4

32

21

10

–

1

$65,000 to $69,999

21

–

–

5

4

–

11

8

1

1

2

$70,000 to $74,999

36

1

–

9

7

5

14

8

5

–

1

$75,000 to $79,999

18

2

–

2

1

2

11

6

4

1

–

$80,000 to $84,999

13

–

–

–

3

–

11

8

1

2

–

$85,000 to $89,999

8

–

–

–

2

–

6

3

3

–

–

$90,000 to $94,999

5

–

–

1

–

–

4

1

1

1

–

$95,000 to $99,999

4

–

–

–

–

1

3

2

–

1

–

48

–

1

3

–

2

41

23

9

4

5

$22,830 $15,657 $16,845 $21,885 $27,144 $29,307 $40,118 $37,165 $44,911

–

–

master’s professional degree degree

doctoral degree

Hispanic women working full-time Under $5,000

$100,000 or more Median earnings

20

PERCENT DISTRIBUTION

Hispanic women working full-time

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

Under $15,000

22.3

45.6

37.0

20.4

14.6

10.6

7.9

9.0

5.3

–

$15,000 to $24,999

31.8

40.9

41.4

38.9

27.9

27.6

9.8

11.4

4.6

–

– –

$25,000 to $49,999

36.6

12.5

20.5

37.4

48.8

47.8

50.0

51.7

48.9

–

–

$50,000 to $74,999

6.8

0.7

0.8

2.8

7.9

11.9

20.6

18.6

29.0

–

–

$75,000 or more

2.4

0.3

0.2

0.5

0.9

1.7

11.3

8.6

13.7

–

–

Note: Earnings include wages and salaries only. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 251

Table 3.36

Women Who Work Full-Time by Earnings and Education, 2002: Non-Hispanic White Women

(number and percent distribution of non-Hispanic white women aged 25 or older working full-time, year-round, by earnings and educational attainment, 2002; median earnings of women with earnings; women in thousands as of 2003)

total

bachelor’s degree or more

less than 9th grade

9th–12th grade, no diploma

high school graduate

some college, no degree

associate’s degree

total

bachelor’s degree

master’s professional degree degree

doctoral degree

Non-Hispanic white women working full-time

26,933

135

867

8,207

5,075

3,226

9,423

6,090

2,597

427

308

Under $5,000

321

6

15

139

56

27

78

64

14

–

–

$5,000 to $9,999

421

11

42

204

72

45

48

43

6

–

–

$10,000 to $14,999

1,521

21

158

741

299

124

179

134

38

–

6

$15,000 to $19,999

2,439

22

185

1,164

516

275

274

206

54

6

8

$20,000 to $24,999

3,439

36

179

1,538

804

426

458

390

59

6

2

$25,000 to $29,999

3,234

6

120

1,280

703

448

677

542

120

5

9

$30,000 to $34,999

3,196

13

46

1,036

632

463

1,007

738

231

34

4

$35,000 to $39,999

2,635

12

35

603

569

369

1,048

708

268

41

31

$40,000 to $44,999

2,395

3

35

556

455

292

1,053

700

296

42

17

$45,000 to $49,999

1,383

4

14

273

189

192

710

424

250

21

14

$50,000 to $54,999

1,455

–

15

165

236

204

834

456

309

41

30

$55,000 to $59,999

779

–

–

95

142

103

439

272

129

26

12

$60,000 to $64,999

783

–

9

125

77

82

490

262

182

25

21

$65,000 to $69,999

497

–

1

72

62

32

330

171

122

21

18

$70,000 to $74,999

431

–

6

57

51

32

287

167

89

12

19

$75,000 to $79,999

400

–

–

47

45

31

277

155

83

15

25

$80,000 to $84,999

310

–

4

29

40

16

220

130

67

15

8

$85,000 to $89,999

144

–

–

4

8

8

124

72

35

12

4

$90,000 to $94,999

166

–

–

6

13

18

129

82

26

11

9

$95,000 to $99,999

134

–

–

6

11

8

108

36

48

16

9

837

–

4

62

95

27

649

340

169

77

63

$100,000 or more Median earnings

$32,173 $20,701 $20,640 $25,886 $30,463 $31,865 $43,736 $40,964 $49,004 $57,022 $64,997

PERCENT DISTRIBUTION

Non-Hispanic white women working full-time Under $15,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

100.0% 100.0% 100.0% 100.0% 100.0%

8.4

28.1

24.8

13.2

8.4

6.1

3.2

4.0

2.2

–

$15,000 to $24,999

21.8

43.0

42.0

32.9

26.0

21.7

7.8

9.8

4.4

2.8

3.2

$25,000 to $49,999

47.7

28.1

28.8

45.7

50.2

54.7

47.7

51.1

44.9

33.5

24.4

$50,000 to $74,999

14.6

–

3.6

6.3

11.2

14.0

25.3

21.8

32.0

29.3

32.5

7.4

–

0.9

1.9

4.2

3.3

16.0

13.4

16.5

34.2

38.3

$75,000 or more

1.9

Note: Earnings includes wages and salaries only. The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

252 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Among Women, Lawyers Earn the Most Chefs and cooks earn the least. Among full-time workers, women earn 77 percent as much as men. While this figure is rising, it is still far below parity with men. There are many reasons for the earnings gap between women and men. On average, working men are older and have more job experience than working women. In addition, the average male worker is better educated—boosting men’s earnings. The different career choices of men and women also contribute to the gap. Among women who work full-time, lawyers earn the most, a median of $80,634 in 2002. Physicians rank second in earnings, with a median of $66,095. Other high-paying occupations among women are psychologists and sociologists ($66,095), chief executives and managers ($56,661) and engineers ($55,838). These are also some of the highest-paying occupations among men, but men are far more likely than women to choose these as a career. Women’s earnings are lowest among chefs and cooks ($16,222) and building and grounds cleaning and maintenance workers ($16,587). Among men, these are also low-paying jobs. ■ Women’s earnings will continue to approach those of men during the years ahead as better-educated, career-oriented women replace older just-a-job women.

Women’s earnings vary by occupation (median earnings of women aged 15 or older working full-time, year-round, by selected occupation, 2002)

$80,634 $75,000

$66,095

$50,000

$42,840 $36,193

$25,000

$16,935

$0

lawyers and judges

physicians

nurses

education, training, and library

food preparation

AMERICAN INCOMES: Demographics of Who Has Money 253

Table 3.37

Median Earnings of Women by Occupation, 2002

(number and median earnings of women aged 15 or older working full-time, year-round, by occupation of longest job held, 2002; women in thousands as of 2003) number with earnings

median earnings

Management, professional, and related occupations Management, business, and financial operations

41,876 17,003 6,896

$30,203 40,540 41,276

Management occupations Chief executives, general and operations managers All other managers Business and financial operations Business operations specialists Financial specialists

4,511 475 4,036 2,385 1,120 1,265

42,418 56,661 41,663 39,099 37,851 39,761

10,106 700

40,080 52,131

656 281 140

52,294 50,340 55,838

109 441 78 253 103

40,322 45,467 61,203 48,040 31,476

Community and social services occupations Legal occupations Lawyers, judges, and magistrates Paralegals, legal assistants, and legal support workers Education, training, and library occupations Postsecondary teachers

975 549 221 328 3,221 285

33,016 45,619 80,634 36,251 36,193 41,740

All other teachers Archivists, curators, museum technicians, librarians, and other technicians Arts, design, entertainment, sports, and media occupations Health care practitioner and technical occupations Doctors

2,421

37,775

515 705 3,234 197

20,831 36,829 41,442 66,095

1,913 1,124

42,840 35,683

TOTAL WOMEN WORKING FULL-TIME, YEAR-ROUND

Professional and related Computer and mathematical Computer scientists, analysts, programmers, engineers, and administrators Architecture and engineering Engineers Drafters, engineering technicians, surveying and mapping technicians Life, physical, and social science occupations Psychologists and sociologists All other scientists Science technicians

Nurses All other health and technical occupations

(continued)

254 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

number with earnings

median earnings

Service occupations Health care support occupations Protective service occupations Food preparation and serving related occupations Supervisors

6,575 1,628 356 1,776 278

$20,008 22,423 31,256 16,935 20,628

Chefs and cooks All other food preparation occupations Building and grounds cleaning and maintenance occupations Personal care and service occupations Supervisors All other personal care and service occupations

461 1,037 1,098 1,718 128 1,590

16,222 16,610 16,587 19,603 23,988 18,877

Sales and office occupations Sales and related occupations Supervisors

14,836 4,396 1,440

26,950 25,548 26,718

Cashiers Insurance sales agents Real estate brokers and sales agents All other sales and related occupations Office and administrative support occupations Supervisors

834 207 307 1,608 10,440 881

16,242 35,800 40,614 27,034 27,353 35,243

197 9,362

40,280 26,820

Postal workers All other office and administrative support occupations Natural resources, construction, maintenance occupations

411

25,901

Farming, fishing, and forestry occupations Construction and extraction occupations Installation, maintenance, and repair occupations

113 115 183

16,634 25,160 32,496

2,993 2,277 188 2,089 716

21,907 21,762 27,273 21,467 22,490

238 448

24,937 21,326

Production, transportation, material moving occupations Production occupations Supervisors All other production occupations Transportation and material moving occupations Auto, bus, truck, ambulance, taxi drivers All other transportation occupations

Note: Numbers will not add to total because only occupations with data on median earnings are shown. Earnings include wages and salary only. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm

AMERICAN INCOMES: Demographics of Who Has Money 255

Two-Thirds of Women Receive Wage and Salary Income More than one in five receive Social Security. Only two sources of income are received by the majority of women. Fully 66 percent receive wage and salary income, while just over 50 percent receive interest income. Social Security is the third most important source of income among women, received by 22 percent. Only 15 percent receive dividends, and 5 percent of women receive child support. Among women with wage and salary income in 2002, the average amount received stood at $26,904. Among those getting Social Security checks, the average amount received was a much smaller $8,560, while those getting child support received only $4,466 on average. Hispanic women are most likely to receive wage and salary income. Seventy-three percent of Hispanic women had wage and salary income in 2002 versus 71 percent of black women, 69 percent of Asian women, and 65 percent of non-Hispanic white women. NonHispanic white women are much more likely to receive Social Security income than other racial or ethnic groups. Twenty-five percent received Social Security checks in 2002 versus 18 percent of blacks and 13 percent of Hispanics and 11 percent of Asians. ■ As the baby-boom generation begins to retire, the proportion of women with Social Security and retirement income will rise.

Few women receive retirement income (percent of women aged 15 or older receiving income, by source of income, 2002)

66%

50%

50%

22%

25%

15% 8%

5%

0%

wage and salary

interest

256 AMERICAN INCOMES: Demographics of Who Has Money

Social Security

dividends

retirement income

child support

WOMEN’S INCOME, 2002

Table 3.38

Average Income of Women by Source of Income, 2002: Total Women

(number and percent of women aged 15 or older with income, and average income of those with income, 2002; women in thousands as of 2003) number

Women with income Earnings Wages and salary

percent

average income

102,487 71,411 68,100

100.0% 69.7 66.4

$23,619 26,690 26,904

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

4,781 742 3,306 846 22,689 2,983

4.7 0.7 3.2 0.8 22.1 2.9

14,441 6,500 4,362 4,962 8,560 5,027

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

1,757 530 2,155 787 8,256 4,625

1.7 0.5 2.1 0.8 8.1 4.5

3,030 7,423 10,693 8,047 10,608 7,335

713 220 2,042 114 231 211

0.7 0.2 2.0 0.1 0.2 0.2

15,479 10,390 14,326 9,644 9,717 7,021

51,416 15,565 5,620 4,480 5,062 400

50.2 15.2 5.5 4.4 4.9 0.4

1,352 1,833 5,301 4,832 4,466 11,738

1,403 621

1.4 0.6

6,408 5,200

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 257

Table 3.39

Average Income of Women by Source of Income, 2002: Asian Women

(number and percent of Asian women aged 15 or older with income, and average income of those with income, 2002; women in thousands as of 2003) number

Asian women with income Earnings Wages and salary

4,137 3,001 2,845

percent

average income

100.0% 72.5 68.8

$26,132 30,708 30,690

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

206 15 181 35 450 137

5.0 0.4 4.4 0.8 10.9 3.3

23,105 – 4,575 – 7,885 6,234

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

46 12 44 18 154 74

1.1 0.3 1.1 0.4 3.7 1.8

– – – – 14,698 –

29 8 30 2 4 4

0.7 0.2 0.7 0.0 0.1 0.1

– – – – – –

2,087 605 220 202 60 10

50.4 14.6 5.3 4.9 1.5 0.2

863 1,650 5,471 5,937 – –

130 18

3.1 0.4

18,421 –

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

258 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.40

Average Income of Women by Source of Income, 2002: Black Women

(number and percent of black women aged 15 or older with income, and average income of those with income, 2002; women in thousands as of 2003) number

Black women with income Earnings Wages and salary Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security) Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

percent

average income

12,665 9,237 9,009

100.0% 72.9 71.1

$22,055 24,755 24,951

377 61 546 110 2,309 816

3.0 0.5 4.3 0.9 18.2 6.4

10,032 – 4,465 8,102 7,943 5,125

542 85 155 144 855 447

4.3 0.7 1.2 1.1 6.8 3.5

3,134 5,349 9,963 7,555 11,243 8,282

110 17 203 10 11 15

0.9 0.1 1.6 0.1 0.1 0.1

14,589 – 16,294 – – –

3,354 681 288 805 957 28

26.5 5.4 2.3 6.4 7.6 0.2

828 1,617 2,520 3,865 3,434 –

192 86

1.5 0.7

3,505 11,348

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 259

Table 3.41

Average Income of Women by Source of Income, 2002: Hispanic Women

(number and percent of Hispanic women aged 15 or older with income, and average income of those with income, 2002; women in thousands as of 2003) number

percent

average income

Hispanic women with income Earnings Wages and salary

10,018 7,598 7,340

100.0% 75.8 73.3

$18,180 20,624 20,485

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

347 42 393 100 1,315 424

3.5 0.4 3.9 1.0 13.1 4.2

12,572 – 3,807 4,540 6,984 5,086

413 33 72 79 277 146

4.1 0.3 0.7 0.8 2.8 1.5

3,530 – – 6,087 8,728 6,300

26 17 52 5 3 5

0.3 0.2 0.5 0.0 0.0 0.0

– – – – – –

2,728 425 302 436 494 18

27.2 4.2 3.0 4.4 4.9 0.2

740 1,473 2,916 3,916 3,654 –

142 47

1.4 0.5

4,394 –

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/perinc/new01_000.htm; calculations by New Strategist

260 AMERICAN INCOMES: Demographics of Who Has Money

WOMEN’S INCOME, 2002

Table 3.42

Average Income of Women by Source of Income, 2002: Non-Hispanic White Women

(number and percent of non-Hispanic white women aged 15 or older with income, and average income of those with income, 2002; women in thousands as of 2003) number

percent

average income

Non-Hispanic white women with income Earnings Wages and salary

74,814 51,008 48,382

100.0% 68.2 64.7

$24,506 27,751 28,068

Nonfarm self-employment Farm self-employment Unemployment compensation Worker’s compensation Social Security SSI (Supplemental Security)

3,795 614 2,142 591 18,389 1,558

5.1 0.8 2.9 0.8 24.6 2.1

14,491 4,169 4,417 4,527 8,773 4,907

Public Assistance Veteran’s benefits Survivor’s benefits Disability benefits Retirement income Company or union retirement

722 395 1,855 526 6,884 3,924

1.0 0.5 2.5 0.7 9.2 5.2

2,713 7,751 10,732 8,506 10,522 7,289

539 171 1,739 97 213 180

0.7 0.2 2.3 0.1 0.3 0.2

15,150 11,202 14,163 9,457 8,470 6,640

42,859 13,742 4,757 2,972 3,496 346

57.3 18.4 6.4 4.0 4.7 0.5

1,457 1,861 5,640 5,155 4,880 12,280

919 451

1.2 0.6

5,595 4,433

Federal government retirement Military retirement State or local government retirement Railroad retirement Annuities IRA or KEOGH or 401(k) Interest Dividends Rents and royalties Educational assistance Child support Alimony Financial assistance from outside the household Other income

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, http://ferret.bls.census.gov/ macro/032003/hhinc/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 261

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DISCRETIONARY INCOME CHAPTER

4

Discretionary Income Fully 93 percent of households had at least some discretionary income in 2002, averaging $20,380 in uncommitted dollars per household. Although this is 25 percent less than in 2000, after adjusting for inflation, it is still a considerable amount. In the aggregate, American households control more than $2.1 trillion in discretionary income. Discretionary income is the money that remains for spending or saving after people pay their taxes and buy necessities. Many businesses depend on discretionary spending for sales and profits. This dependency makes discretionary income statistics important for marketers and other researchers. Despite this importance, however, discretionary income statistics can be hard to find because no government agency is charged with producing these statistics. This chapter contains estimates of discretionary income for 2002 produced by New Strategist researchers.

Estimating discretionary income The estimates of discretionary income shown here were produced in three steps. The first step was to establish a database of household spending using data from the Bureau of Labor Statistics’ Consumer Expenditure Survey (CEX). The CEX is the only ongoing national survey of American household spending. It tracks the dollars Americans spend by detailed category of goods and services. For this update to our estimates of discretionary income, we used the 2002 Consumer Expenditure Survey. The second step was to calculate disposable, or after tax, income. We did this by subtracting federal and state income taxes, payroll taxes including FICA, and local property taxes from CEX estimates of before-tax income. In the third step, necessary household expenses were subtracted from disposable income. Necessary expenses were defined to include all food spending, spending on housing (except for spending on other lodging, which includes hotel and motel expenses), spending on apparel and apparel services (except for other apparel products, which includes jewelry), spending on transportation (except for spending on public transportation, which includes discretionary spending on airline and ship fares), and spending on health care. These necessary expenses were subtracted from after-tax income In the final step, we accounted for spending above and beyond the basics because discretionary spending for one family may be necessary spending by another. To do this, we multiplied by 75 percent any income remaining after subtracting taxes and basic ex-

AMERICAN INCOMES: Demographics of Who Has Money 263

penses. In other words, we conservatively trimmed our estimates of discretionary income by 25 percent to arrive at the figures shown in this chapter. Final coefficients were calculated to estimate the percentage of households with discretionary income and the average amount of discretionary income for each of the demographic variables shown in the tables.

What is discretionary? No definition of necessary expenses can be exact. All are likely to include at least some discretionary items, and some nondiscretionary items are probably included in discretionary spending as well. One reason for the overlap is that categories of expenses in the Consumer Expenditure Survey can include both discretionary and nondiscretionary items. Ultimately, defining basic expenses is subjective on the part of the consumer and a judgment call on the part of researchers. Some of the food spending we include as basic is discretionary—for example a birthday dinner at an expensive restaurant. But most food spending is not discretionary, which is why we included all food spending under basic expenses. While some might argue that spending on any restaurant food is discretionary, it’s likely that most Americans would strongly disagree. Restaurant and carry-out meals have become a necessary expense for today’s busy two-earner households. The small amount of discretionary spending included in such basic items as food spending is likely to be canceled out by some nondiscretionary spending included in items classified as discretionary. We defined any spending on personal care products and services as discretionary, for example. But there are some nondiscretionary items included in the category—such as spending on toothpaste, shaving products, and shampoo. Discretionary income is in the mind of the consumer. Nevertheless, the estimates that follow show there are more discretionary dollars in our pockets than is commonly assumed.

264 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Nearly All Households Have Discretionary Income Only among households with incomes below $15,000 is the figure below 95 percent.

Ninety-three percent of American households have money left over after they pay their taxes and buy necessities. The average amount of discretionary income available per household stood at $20,380 in 2002. While substantial, this figure is well below the $27,340 of discretionary income available to the average household in 2000—a 25 percent decline, after adjusting for inflation. The recession of 2001 accounts for the loss of discretionary income. Just 59 percent of households with incomes below $15,000 have discretionary income. Above that income threshold, the proportion of households with discretionary income is greater than 95 percent. The average amount of discretionary income per household also rises with income. Households with incomes of $150,000 or more had fully $67,729 in discretionary income in 2002, or $21,248 per household member. ■ Household discretionary income should rise because of the economic recovery, but the soaring cost of health care may limit the increase.

Discretionary income rises with income (average amount of discretionary income per household, by household income, 2002)

$67,729

$50,000

$35,700 $25,256 $25,000

$17,773 $2,432

$5,161

$8,303

$12,004

$0

under $15,000

$15,000– $24,999

$25,000– $34,999

$35,000– $49,999

$50,000– $74,999

$75,000– $99,999

$100,000– $149,999

$150,000 or more

AMERICAN INCOMES: Demographics of Who Has Money 265

Table 4.1

Households with Discretionary Income by Household Income, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by before-tax household income, 2002; households as of 2003) discretionary income

total

Total households

111,273,745

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696

average amount

aggregate amount (billions)

92.6% $20,380

$2,100.2

percent distrib. of aggregate

100.0%

amount per household member

$8,164

Less than $15,000

17,596,001

15.8

10,338,485

58.8

2,432

25.1

1.2

1,396

$15,000–$24,999

12,513,099

11.2

12,102,103

96.7

5,161

62.5

3.0

2,742

$25,000–$34,999

11,414,910

10.3

11,201,191

98.1

8,303

93.0

4.4

3,760

$35,000–$49,999

14,750,525

13.3

14,618,540

99.1

12,004

175.5

8.4

5,005

$50,000–$74,999

19,393,841

17.4

19,262,397

99.3

17,773

342.3

16.3

6,598

$75,000–$99,999

13,261,338

11.9

13,245,013

99.9

25,156

333.2

15.9

8,306

$100,000–$149,999

13,813,790

12.4

13,767,159

99.7

35,700

491.5

23.4

11,372

8,530,241

7.7

8,520,807

99.9

67,729

577.1

27.5

21,248

$150,000 or more

Note: For the definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

266 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Discretionary Income Peaks in Middle Age Householders aged 45 to 54 have the largest amount of discretionary income per household. The percentage of households with discretionary income varies somewhat by age. It is highest among householders aged 25 to 34, at 97 percent. Many are young couples who do not yet have the expenses associated with childrearing. The proportion of households with discretionary income falls slowly with age, to a low of 85 percent among householders aged 75 or older. Among households with discretionary income, householders aged 45 to 54 have the most—fully $26,351 in 2002. But after adjusting for household size, householders aged 55 to 64 (many of them empty nesters) have the most discretionary income per capita—$10,145 per household member in 2002. The large baby-boom generation is now filling the 55-to-64 age group. With millions of boomers likely to postpone retirement, the discretionary income of this group should grow substantially. ■ As the large baby-boom generation enters the 55-to-64 age group, the share of discretionary income controlled by empty nesters will rise, fueling industries that cater to older couples.

Discretionary income per capita peaks in the 55-to-64 age group (amount of discretionary income per household member, by age of householder, 2002)

$9,646 $7,439

$8,000

$10,145

$7,626

$7,040 $5,687

$5,576 $4,000

$0

under 25

25 to 34

35 to 44

45 to 54

55 to 64

65 to 74

75 or older

AMERICAN INCOMES: Demographics of Who Has Money 267

Table 4.2

Households with Discretionary Income by Age of Householder, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by age of householder, 2002; households as of 2003) discretionary income

total

Total households

111,273,745

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696

average amount

aggregate amount (billions)

92.6% $20,380

$2,100.2

100.0%

amount per household member

$8,164

Under age 25

5,155,436

4.6

4,767,294

92.5

10,898

52.0

2.5

5,576

Age 25 to 34

16,612,437

14.9

16,046,559

96.6

21,482

344.7

16.4

7,439

Age 35 to 44

23,047,868

20.7

22,135,080

96.0

25,677

568.4

27.1

7,626

Age 45 to 54

22,092,995

19.9

21,048,372

95.3

26,351

554.7

26.4

9,646

Age 55 to 64

15,571,013

14.0

14,393,381

92.4

21,730

312.8

14.9

10,145

Age 65 to 74

14,659,648

13.2

12,708,005

86.7

12,963

164.7

7.8

7,040

Age 75 and older

14,134,347

12.7

11,957,006

84.6

8,618

103.0

4.9

5,687

Note: For the definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

268

percent distrib. of aggregate

AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Empty-Nesters Have the Most Discretionary Income Not surprisingly, female-headed single-parent families have the smallest amount of fun money. At least 90 percent of households have some discretionary income, regardless of household type. The percentage ranges from a low of 90 percent for single-person households (many of whom are elderly) to a high of 98 percent for married couples with children under age 6. Among households with discretionary income, married couples have much more than singles. Married couples with adult children at home had the most, an average of $30,574 in 2002. This compares with just $10,951 for single-person households. On a per capita basis, married couples without children at home have the most discretionary income ($11,362 per household member) while female-headed single-parent families have the least ($4,032). ■ The share of discretionary income controlled by married couples without children at home—26 percent in 2002—will rise as boomers become empty nesters.

People living alone control a substantial share of discretionary income (percent of discretionary income accruing to households, by household type, 2002)

27%

26%

20%

15% 12% 10%

3% 0%

husband and wife with children under age 18

husband and wife only

single person

husband and wife with adult children at home

single parent with children under age 18

AMERICAN INCOMES: Demographics of Who Has Money 269

Table 4.3

Households with Discretionary Income by Household Type, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by household type, 2002; households as of 2003) discretionary income

total

percent distribution of total

households with percent with discretionary discretionary income income

92.6% $20,380 90.9 22,723

$2,100.2 551.5

Total households Husband, wife only

111,273,745 26,699,299

Husband and wife, oldest child under 6

5,184,655

4.7

5,062,270

97.6

28,188

Husband and wife, oldest child 6–17

15,337,748

13.8

14,821,695

96.6

Husband and wife, oldest child over 17

8,378,259

7.5

7,910,648

All other husband and wife families

5,187,636

4.7

Single parent with children under 18, female householder

4,234,892

Single parent with children under 18, male householder

100.0% 103,055,696 24.0 24,270,277

average amount

aggregate amount (billions)

percent distrib. of aggregate

amount per household member

100.0% 26.3

$8,164 11,362

142.7

6.8

8,069

29,136

431.8

20.6

7,037

94.4

30,574

241.9

11.5

8,063

4,863,210

93.7

25,629

124.6

5.9

5,280

3.8

3,986,860

94.1

11,421

45.5

2.2

4,032

799,954

0.7

760,535

95.1

16,912

12.9

0.6

6,243

Single-person households

31,306,620

28.1

28,304,238

90.4

10,951

310.0

14.8

10,951

All other household types

14,144,682

12.7

13,075,964

92.4

18,304

239.3

11.4

6,419

Note: For the definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

270 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Asian Households Have the Most Discretionary Income More than 90 percent of black and Hispanic households have discretionary income. Regardless of race or Hispanic origin, more than 90 percent of households have discretionary income. Asian households have the most, an average of $25,491 in 2002. American Indian households have the least, only $14,890 in discretionary dollars. After adjusting for household size, households headed by whites have the most discretionary income per capita—$8,490 in 2002. This is only slightly greater than the $8,298 in discretionary income per capita for Asian households. Hispanic households have the smallest per capita amount, only $4,809. Because the great majority of households are headed by whites, they control 88 percent of the nation’s discretionary income—$1.8 trillion in spending power in 2002. Black households control $158 billion in discretionary income, while Hispanics control $126 billion and Asians $82 billion. ■ As the number of Asians, blacks, and Hispanics increases, the share of discretionary income controlled by minorities will grow.

American Indian households have the smallest amount of discretionary income (average amount of discretionary income for households with discretionary income, by race and Hispanic origin of householder, 2002)

$25,491 $20,856 $20,000

$15,932

$15,212

$14,890

Hispanic

black

American Indian

$10,000

$0

Asian

white

AMERICAN INCOMES: Demographics of Who Has Money 271

Table 4.4

Households with Discretionary Income by Race and Hispanic Origin, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by race and Hispanic origin of householder, 2002; households as of 2003) discretionary income

total

Total households American Indian Asian

111,273,745

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696

average amount

aggregate amount (billions)

92.6% $20,380

$2,100.2

percent distrib. of aggregate

100.0%

amount per household member

$8,164

935,568

0.8

881,640

94.2

14,890

13.1

0.6

5,369

3,368,522

3.0

3,204,518

95.1

25,491

81.7

3.9

8,298

Black

11,230,230

10.1

10,402,062

92.6

15,212

158.2

7.5

5,764

White

95,739,425

86.0

88,567,476

92.5

20,856

1,847.2

88.0

8,490

8,470,994

7.6

7,910,648

93.4

15,932

126.0

6.0

4,809

Hispanic

Note: Numbers will not add to total because Hispanics may be of any race. For definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

272 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Discretionary Income Is Highest in the Northeast Households in the South have the smallest amount of discretionary income. Discretionary income does not vary much by region. Households in the Northeast have the largest amount of discretionary income, an average of $21,735 in 2002. Households in the South have the smallest amount of discretionary income—$19,107 in 2002. On a per capita basis, households in the South also lag in discretionary income, with $7,684 per household member versus a high of $8,795 in the Northeast. While households in the West average more discretionary income than households in the Midwest, on a per capita basis the Midwest comes out ahead. Despite the smaller average amount of discretionary income available to households in the South, the region controls the largest share of the nation’s discretionary income—34 percent in 2002 because the region is home to the largest share of the population. The Northeast controls the smallest share of discretionary income, just 20 percent in 2002. ■ The South will continue to gain in discretionary spending power as its population expands.

The South controls the largest share of discretionary income (percent of discretionary income accruing to households, by region, 2002)

34% 30%

24% 20%

23%

20%

10%

0%

Northeast

Midwest

South

West

AMERICAN INCOMES: Demographics of Who Has Money 273

Table 4.5

Households with Discretionary Income by Region, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by region, 2002; households as of 2003) discretionary income

total

Total households

111,273,745

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696

average amount

aggregate amount (billions)

92.6% $20,380

$2,100.2

percent distrib. of aggregate

100.0%

amount per household member

$8,164

Northeast

21,239,852

19.1

19,408,121

91.4

21,735

421.8

20.1

8,795

Midwest

26,307,623

23.6

24,261,138

92.2

20,561

498.8

23.8

8,404

South

39,799,986

35.8

36,978,696

92.9

19,107

706.6

33.6

7,684

West

23,926,282

21.5

22,407,741

93.7

21,109

473.0

22.5

8,154

Note: For the definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

274 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

The College Educated Control Most Discretionary Income Those who did not go to college control less than one-third of the nation’s discretionary income. If you want to know where the money is, look no further than the college educated. People with at least some college experience control 71 percent of the nation’s $2.1 trillion in discretionary income. People who went no further than high school control only 29 percent of discretionary income. Regardless of educational level, more than 90 percent of households have discretionary income. The average amount of discretionary income available to households headed by people with a professional or doctoral degree stood at a substantial $40,908 in 2002. For those with a bachelor’s degree, discretionary income was $28,954. For high school graduates, it was just $15,838. The pattern is the same after adjusting for household size. Householders with a professional or doctoral degree averaged more than $17,000 in discretionary income per household member in 2002. ■ The rising educational level of Americans is boosting discretionary spending power.

Discretionary income rises steadily with education (average discretionary income for households with discretionary income, by educational attainment of householder, 2002)

$40,908 $40,000

$32,433 $28,954 $22,036 $20,000

$15,838 $8,675

$18,427

$11,350

$0

elementary or less

some high school

high school diploma

some college

associate’s degree

bachelor’s degree

master’s degree

professional or doctoral degree

AMERICAN INCOMES: Demographics of Who Has Money 275

Table 4.6

Households with Discretionary Income by Education, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by educational attainment of householder, 2002; households as of 2003) discretionary income

total

Total households Less than 8th grade 9th to 12th grade, no high school diploma

111,273,745 6,926,811

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696 6.2 6,315,544

average amount

aggregate amount (billions)

92.6% $20,380 91.2 8,675

$2,100.2 54.8

percent distrib. of aggregate

amount per household member

100.0% 2.6

$8,164 3,605

9,642,887

8.7

8,763,365

90.9

11,350

99.5

4.7

4,616

High school graduate 31,864,937

28.6

29,092,955

91.3

15,838

460.8

21.9

6,286

Some college

21,776,179

19.6

20,214,463

92.8

18,427

372.5

17.7

7,527

Associate’s degree

10,200,502

9.2

9,661,695

94.7

22,036

212.9

10.1

8,583

Bachelor’s degree

19,907,182

17.9

18,588,125

93.4

28,954

538.2

25.6

11,513

Master’s degree

7,993,644

7.2

7,625,740

95.4

32,433

247.3

11.8

12,761

Professional or doctoral degree

2,961,602

2.7

2,793,809

94.3

40,908

114.3

5.4

17,166

Note: For the definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

276 AMERICAN INCOMES: Demographics of Who Has Money

DISCRETIONARY INCOME

Small Households Control Most Discretionary Income Two-person households control the largest share of the nation’s fun money. Among households with discretionary income, larger households generally have more than smaller households. Households with five people have the most, an average of $28,549 in 2002. But after adjusting for household size, single-person households have the most. In 2002, single-person households had $10,951 in discretionary income per capita. The figure falls steadily as household size increases. One- and two-person households control fully 48 percent of the nation’s $2.1 trillion discretionary dollars. Three- and four-person households control another 38 percent, while households with five or more people account for just 13 percent of discretionary spending power. ■ One- and two-person households will control a growing share of discretionary income as boomers become empty nesters.

Households with four or more people control only one-third of discretionary income (percent of discretionary income accruing to households, by household size, 2002)

34% 30%

20%

20%

18% 15% 13%

10%

0%

one person

two people

three people

four people

five or more people

AMERICAN INCOMES: Demographics of Who Has Money 277

Table 4.7

Households with Discretionary Income by Household Size, 2002

(number and percent distribution of total households, number and percent with discretionary income, and amount of discretionary income for those with discretionary income, by household size, 2002; households as of 2003) discretionary income

total

Total households

111,273,745

percent distribution of total

households with percent with discretionary discretionary income income

100.0% 103,055,696

average amount

aggregate amount (billions)

92.6% $20,380

$2,100.2

percent distrib. of aggregate

amount per household member

100.0%

$8,164

One person

31,306,620

28.1

28,304,238

90.4

10,951

310.0

14.8

10,951

Two people

37,032,453

33.3

33,896,151

91.5

20,837

706.3

33.6

10,419

Three people

16,626,483

14.9

15,672,060

94.3

24,616

385.8

18.4

8,205

Four people

15,461,572

13.9

14,858,717

96.1

27,926

414.9

19.8

6,981

Five people

6,930,687

6.2

6,644,623

95.9

28,549

189.7

9.0

5,710

Six people

2,445,342

2.2

2,310,948

94.5

25,868

59.8

2.8

4,311

Seven or more people

1,470,588

1.3

1,368,959

93.1

24,672

33.8

1.6

3,525

Note: For definition of discretionary income, see chapter introduction or glossary. Source: New Strategist Publications

278 AMERICAN INCOMES: Demographics of Who Has Money

WEALTH CHAPTER

5

Wealth When the economy and stock market boomed during the 1990s, Americans bought into the action. By 2001, the majority of households owned stock. Between 1989 and 2001, the median net worth of households rose 33 percent, after adjusting for inflation, according to the Federal Reserve Board’s triennial Survey of Consumer Finances. The stock market decline and recession of 2001 reduced household net worth, but not by much. The Federal Reserve Board estimates net worth declined 6 percent in the year following the 2001 survey. One reason net worth has remained relatively stable despite economic turmoil is that homeownership, rather than stock ownership, is the single largest contributor to household wealth. The median net worth of the average household stood at $86,058 in 2001. Net worth is determined by subtracting debts from assets. In 2001, the median amount of debt owed by the average household stood at $38,775, including mortgage debt. The financial assets owned by the average household had a median value of $28,000 in 2001, while nonfinancial assets had a much higher median value of $113,500. Home equity is behind the greater value of nonfinancial assets. With housing values rising steadily, the net worth of Americans is probably higher today than it was in 2001. ■ As homeownership increases with the aging of the population, household net worth should continue to rise despite the ups and downs of the stock market.

AMERICAN INCOMES: Demographics of Who Has Money 279

Net Worth Rose for Most Households between 1989 and 2001 Net worth peaks in the 55-to-64 age group. The median net worth of American households stood at $86,058 in 2001, up 33 percent from the $64,556 of 1989, after adjusting for inflation. Net worth, which is one of the most important measures of wealth, is what remains after a household’s debts are subtracted from its assets. These figures are from the Federal Reserve Board’s triennial Survey of Consumer Finances, the authoritative source of information about the wealth of American households. Not surprisingly, net worth is greatest for those with the highest incomes. Households with incomes in the top 10 percent of the household income distribution had a median net worth of more than $800,000 in 2001. Net worth rises with age as people pay off their debts. Householders under age 35 had a median net worth of just $11,555 in 2001. Net worth peaks in the 55-to-64 age group at $181,507. College graduates have much higher net worth than those with less education. In fact, householders without a high school diploma saw their net worth decline by 23 percent between 1989 and 2001, after adjusting for inflation. Net worth rose sharply for nonwhites and Hispanics between 1989 and 2001—up 86 percent. Despite the increase, the median net worth of nonwhites and Hispanics lags far behind that of non-Hispanic whites, $17,110 versus $120,900 in 2001. ■ For most households, homeownership is the single largest contributor to net worth. As people pay off their mortgages with age, net worth grows.

Net worth peaks among older Americans (median net worth of households by age of householder, 2001)

$181,507

$176,325 $151,375

$150,000

$132,905

$100,000

$77,567 $50,000

$11,555 $0

under 35

280

35 to 44

AMERICAN INCOMES: Demographics of Who Has Money

45 to 54

55 to 64

65 to 74

75 or older

WEALTH

Table 5.1

Net Worth of Households, 1989 to 2001

(median net worth of households by selected characteristics, 1989 to 2001; percent change, 1989–2001; in 2001 dollars)

Total households

2001

1998

1995

1992

1989

percent change 1989–2001

$86,058

$77,964

$66,432

$61,252

$64,556

33.3%

Percentile of household income Less than 20 percent 7,852

6,340

6,935

4,888

2,478

216.9

20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

37,225 62,455 141,533 263,142 833,631

36,056 58,124 122,240 205,162 492,369

38,734 53,599 87,835 148,055 410,162

34,356 48,938 93,227 142,483 450,000

33,173 57,328 91,518 181,658 534,685

12.2 8.9 54.7 44.9 55.9

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74

11,555 77,567 132,905 181,507 176,325

9,932 69,041 114,779 139,188 159,461

13,868 60,323 107,462 133,181 128,009

11,363 55,130 96,824 141,065 121,672

10,695 77,032 135,914 134,686 105,024

8.0 0.7 –2.2 34.8 67.9

Aged 75 or older

151,375

136,703

107,492

107,496

99,716

51.8

Education of householder No high school diploma 25,511 High school diploma 58,061 Some college 71,621 College degree 213,334

22,961 58,845 80,389 159,335

26,180 59,988 54,112 120,698

23,108 47,555 71,401 121,531

33,185 50,677 63,269 152,663

–23.1 14.6 13.2 39.7

Race or ethnicity of householder Non-Hispanic white 120,900 Nonwhite or Hispanic 17,110

103,434 17,894

88,537 18,270

86,245 14,848

97,694 9,188

23.8 86.2

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 281

Financial Assets Have Grown Rapidly The median value of financial assets is less than $30,000, however. The median value of financial assets owned by the average household stood at a modest $28,000 in 2001, up 80 percent since 1989, after adjusting for inflation. The rise in financial assets was a consequence of the stock market boom of the 1990s. The stock market decline and the recession of 2001 are certain to have reduced the value of household financial assets since the survey was taken—although not dramatically. The Federal Reserve estimates that median net worth fell 6 percent in the year following the 2001 survey and remained above its 1998 level. Ninety-three percent of households own financial assets, which range from transaction accounts (checking and saving) to stocks, retirement accounts, and life insurance. Transaction accounts are the most commonly owned financial asset, held by 91 percent of households and worth a median of $4,000. The second most commonly owned financial asset is a retirement account, owned by 52 percent of households. The median value of retirement accounts was only $29,000 in 2001. ■ The shift from defined-benefit to defined-contribution retirement plans has placed the retirement savings burden on individuals rather than companies. Consequently, boomers and younger generations will have a far more modest standard of living in retirement than the current generation of retirees.

The value of retirement accounts is modest (median value of retirement accounts for owners, by educational attainment, 2001)

$50,000

$40,000

$17,500

$20,000

$20,000

$10,000

$0

not a high school graduate

282 AMERICAN INCOMES: Demographics of Who Has Money

high school graduate

some college

college graduate

WEALTH

Table 5.2

Financial Assets of Households, 1989 to 2001

(median financial assets of households with assets by selected characteristics, 1989 to 2001; percent change, 1989–2001; in 2001 dollars) 2001

1998

1995

1992

1989

$28,000

$24,498

$17,992

$14,230

$15,554

Percentile of household income Less than 20 percent 2,000

Total households

percent change 1989–2001

80.0%

1,970

1,734

1,485

1,480

35.2

8,000 17,060 55,500 97,100 364,001

7,130 17,584 39,803 87,622 241,096

6,999 11,212 24,735 55,757 173,375

4,826 9,652 21,407 46,401 159,126

6,056 11,425 20,646 39,573 198,210

32.1 49.3 168.8 145.4 83.6

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74

6,250 26,900 45,700 56,630 51,400

5,002 24,890 41,127 49,634 49,852

6,242 15,922 32,363 37,911 24,504

4,578 12,374 23,634 35,265 31,553

3,716 19,339 25,052 35,981 26,772

68.2 39.1 82.4 57.4 92.0

Aged 75 or older

40,000

39,882

26,469

26,047

40,537

-1.3

Education of householder No high school diploma 4,500 High school diploma 13,925 Some college 20,500 College degree 87,826

5,334 14,150 22,096 66,125

4,970 12,136 16,124 39,183

3,093 9,635 13,685 34,028

5,644 11,012 16,655 33,173

-20.3 26.5 23.1 164.8

Race or ethnicity of householder Non-Hispanic white 38,465 Nonwhite or Hispanic 7,200

32,654 7,097

21,672 6,781

19,241 3,712

21,748 2,780

76.9 159.0

20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 283

284 AMERICAN INCOMES: Demographics of Who Has Money

Table 5.3 Ownership of Financial Assets, 2001 (percent of households owning financial assets, and median value of asset for owners, by selected characteristics of households and type of asset, 2001) any financial asset

transaction accounts

certificates of deposit

savings bonds

bonds

stocks

mutual funds

21.3%

17.7%

52.2%

28.0%

retirement accounts

life insurance

other managed

other financial

PERCENT OWNING ASSET

Total households

93.1%

90.9%

15.7%

16.7%

Percentile of household income Less than 20 percent 20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

74.8 93.0 98.3 99.6 99.8 99.7

70.9 89.4 96.1 98.8 99.7 99.2

10.0 14.7 17.4 16.0 18.3 22.0

3.8 11.0 14.1 24.4 30.3 29.7

– – 1.5 3.7 3.9 12.7

3.8 11.2 16.4 26.2 37.0 60.6

3.6 9.5 15.7 20.6 29.0 48.8

13.2 33.3 52.8 75.7 83.7 88.3

13.8 24.7 25.6 35.7 38.6 41.8

2.2 3.3 5.4 8.5 10.7 16.7

6.2 9.9 9.9 9.0 10.8 12.5

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

89.2 93.3 94.4 94.8 94.6 95.1

86.0 90.7 92.2 93.6 93.8 93.7

6.3 9.8 15.2 14.4 29.7 36.5

12.7 22.6 21.0 14.3 11.3 12.5

– 2.1 2.8 6.1 3.9 5.7

17.4 21.6 22.0 26.7 20.5 21.8

11.5 17.5 20.2 21.3 19.9 19.5

45.1 61.4 63.4 59.1 44.0 25.7

15.0 27.0 31.1 35.7 36.7 33.3

2.1 3.1 6.4 13.0 11.8 11.2

10.4 9.5 8.5 10.6 8.5 7.3

Education of householder No high school diploma High school diploma Some college College degree

77.0 92.7 96.8 99.1

72.8 89.5 95.3 98.4

11.3 15.1 14.9 18.6

5.2 14.1 17.0 24.2

0.1 1.0 3.2 6.1

5.6 13.0 20.0 37.1

2.5 12.1 14.6 31.6

17.1 45.6 52.5 74.8

20.3 24.4 28.4 34.7

3.0 3.5 6.7 11.2

6.9 7.7 10.8 11.2

Race or ethnicity of householder Non-Hispanic white Nonwhite or Hispanic

96.5 82.4

94.9 78.2

18.5 6.7

19.4 7.8

3.8 0.4

24.5 11.0

20.9 7.2

56.9 37.3

29.8 22.3

8.2 1.8

9.2 9.7

3.0%

6.6%

9.3%

(continued)

any financial asset

transaction accounts

certificates of deposit

savings bonds

bonds

stocks

mutual funds

retirement accounts

life insurance

other managed

other financial

Total households

$28,000

$4,000

$15,000

$1,000

$43,500

$20,000

$35,000

$29,000

$10,000

$70,000

$4,000

Percentile of household income Less than 20 percent 20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

2,000 8,000 17,100 55,500 97,100 364,000

900 1,900 2,900 5,300 9,500 26,000

10,000 14,000 13,000 15,000 13,000 25,000

1,000 600 500 1,000 1,000 2,000

– – 10,000 40,000 50,000 88,700

7,500 10,000 7,000 17,000 20,000 50,000

21,000 24,000 24,000 30,000 28,000 87,500

4,500 8,000 13,600 30,000 55,000 130,000

3,600 6,200 7,000 12,000 10,000 24,000

24,200 36,000 70,000 60,000 70,000 112,000

1,700 3,000 3,000 3,000 7,000 15,000

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

6,300 26,900 45,700 56,600 51,400 40,000

1,800 3,400 4,600 5,500 8,000 7,300

4,000 6,000 12,000 19,000 20,000 25,000

300 1,000 1,000 2,500 2,000 3,000

– 13,600 60,000 60,000 71,400 35,000

5,700 15,000 15,000 37,500 85,000 60,000

9,000 17,500 38,500 60,000 70,000 70,000

6,600 28,500 48,000 55,000 60,000 46,000

10,000 9,000 11,000 10,000 8,800 7,000

40,000 50,000 60,000 55,000 120,000 100,000

1,300 2,000 5,000 10,000 8,000 17,500

Education of householder No high school diploma High school diploma Some college College degree

4,500 13,900 20,500 87,800

1,500 2,500 3,000 7,500

15,000 16,000 13,000 14,000

400 700 1,100 1,500

45,500 21,500 60,000 50,000

8,800 8,000 15,000 29,000

34,000 20,000 37,500 40,000

10,000 17,500 20,000 50,000

6,000 7,500 10,000 13,000

16,200 70,000 50,000 82,100

3,000 3,000 2,500 6,000

Race or ethnicity of householder Non-Hispanic white 38,500 Nonwhite or Hispanic 7,200

4,800 1,700

15,000 9,000

1,000 700

50,000 7,600

22,000 8,000

40,000 17,500

35,000 10,000

10,000 8,100

70,000 45,000

5,000 1,700

MEDIAN VALUE OF ASSET FOR OWNERS

WEALTH

AMERICAN INCOMES: Demographics of Who Has Money 285

Note: (–) means sample is too small to make a reliable estimate. Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/oss/oss2/2001/scf2001home.html

Big Gains in Stock Ownership Since 1989 More than half of American households are invested in stocks. Between 1989 and 2001, as the stock market soared, American households bought into the action. The percentage of households owning stocks either directly or indirectly (through mutual funds and retirement accounts) rose from 32 percent in 1989 to 52 percent in 2001. The value of the stock owned by the average household nearly tripled, rising from just $11,700 in 1989 to $34,250 in 2001, after adjusting for inflation. The stock market decline and recession of 2001 are certain to have reduced these figures somewhat. The Federal Reserve estimates that in the year following the 2001 survey, household net worth fell 6 percent but remained above its 1998 level. The increase in stock ownership occurred across the board, with the biggest gains among middle-income, younger, college-educated householders. Most households own only a modest amount of stock, however, with the value exceeding $100,000 only among stock owners with incomes in the top 10 percent of the income distribution and among stock owners aged 65 or older. ■ As Americans poured their savings into the stock market during the 1990s, they made themselves vulnerable to a downturn in the market.

Stock ownership is highest in the 35-to-54 age group (percent of households owning stock directly or indirectly, by age of householder, 2001)

60% 50%

59%

57%

49% 39% 34%

25%

0%

under 35

286

35 to 44

AMERICAN INCOMES: Demographics of Who Has Money

45 to 54

55 to 64

65 to 74

75 or older

WEALTH

Table 5.4

Stock Ownership by Age of Householder, 1989 to 2001

(percentage of households owning stock directly or indirectly, and median value of stock for owners, by age of householder, 1989 to 2001; percentage point change in ownership and percent change in value, 1989–2001; in 2001 dollars) percentage point change 1989–2001

2001

1998

1995

1992

1989

51.9%

48.9%

40.4%

36.7%

31.7%

20.2

Percentile of household income Less than 20 percent 12.4 20 to 39.9 percent 33.5 40 to 59.9 percent 52.1 60 to 79.9 percent 75.7

10.0 30.8 50.2 69.3

6.5 24.7 41.5 54.3

7.3 20.2 33.6 51.1

3.3 15.2 28.6 44.0

9.1 18.3 23.5 31.7

80 to 89.9 percent 90 to 100 percent

82.0 89.6

77.9 90.4

69.7 80.0

65.7 77.0

57.6 76.9

24.4 12.7

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54

48.9 59.5 59.2

40.8 56.7 58.6

36.6 46.4 48.9

28.4 42.4 46.4

22.4 39.0 41.8

26.5 20.5 17.4

Aged 55 to 64 Aged 65 to 74 Aged 75 or older

57.1 39.2 34.2

55.9 42.7 29.4

40.0 34.4 27.9

45.3 30.2 25.7

36.2 26.7 25.9

20.9 12.5 8.3

Education of householder No high school diploma

15.8

17.9

15.2

10.8

10.0

5.8

High school diploma Some college College degree

43.5 53.6 75.8

41.2 53.7 68.9

32.8 42.9 61.9

29.7 39.8 58.2

26.2 38.0 53.4

17.3 15.6 22.4

Race or ethnicity of householder Non-Hispanic white 57.5 Nonwhite or Hispanic 34.1

54.4 29.7

45.1 24.2

43.1 17.2

38.2 12.4

19.3 21.7

PERCENT OWNING STOCK

Total households

(continued)

AMERICAN INCOMES: Demographics of Who Has Money 287

percent change 1989–2001

2001

1998

1995

1992

1989

$34,250

$27,212

$16,875

$12,992

$11,700

Percentile of household income Less than 20 percent 6,973 20 to 39.9 percent 7,500

5,442 10,885

4,334 7,282

9,899 4,950

27,529 8,259

–74.7 –9.2

13,062 20,409 48,981 146,500

7,224 14,621 28,896 69,350

6,187 10,054 17,323 58,775

6,260 7,984 13,076 53,716

139.6 257.0 394.0 361.1

MEDIAN VALUE OF STOCK FOR OWNERS

Total households

40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent Age of householder Under age 35

15,000 28,500 64,600 247,668

192.7%

7,000

7,619

5,895

4,331

4,129

69.5

24,500 50,000 81,200 150,000 120,000

21,769 41,362 51,158 60,954 65,308

11,558 29,986 35,831 39,298 23,117

9,280 18,561 30,934 19,798 30,934

7,089 18,100 25,327 27,942 34,412

245.6 176.2 220.6 436.8 248.7

Education of householder No high school diploma 8,000 High school diploma 16,500 Some college 22,000 College degree 69,500

11,429 16,871 20,138 48,981

5,895 11,847 12,136 27,047

6,187 7,424 12,296 21,035

10,323 10,323 9,773 17,206

–22.5 59.8 125.1 303.9

32,654 10,885

18,493 7,396

14,230 8,414

13,489 4,129

205.8 151.9

Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

Race or ethnicity of householder Non-Hispanic white Nonwhite or Hispanic

41,250 10,400

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html; calculations by New Strategist

288 AMERICAN INCOMES: Demographics of Who Has Money

WEALTH

Nonfinancial Assets Are Most Important to Households For the average household, nonfinancial assets are more than four times as valuable as financial assets. The median value of nonfinancial assets owned by the average American household stood at $113,500 in 2001, much greater than the median of $28,000 in financial assets. Nonfinancial assets may not have grown as rapidly as financial assets between 1989 and 2001, but they also were not as affected by the stock market crash and recession of 2001. In fact, the average household’s nonfinancial assets are probably worth much more today than in 2001, thanks to the continuing rise in housing values. Vehicles are the most common nonfinancial asset, owned by 85 percent of households. The second most commonly held nonfinancial asset is a home, owned by 68 percent. Homes are by far the most valuable asset owned by Americans, accounting for the largest share of net worth. In 2001, the median value of the average owned home stood at $122,000. Because homeownership is the most important contributor to nonfinancial assets, the value of the nonfinancial assets owned by households varies greatly depending on homeownership status. Affluent households are most likely to own a home, and they have the most in nonfinancial assets—a median of $479,000 in 2001, including $300,000 in their primary residence. The value of nonfinancial assets peaks among householders aged 55 to 74—also the ages when homeownership peaks. ■ Homeownership is at a record high. This should boost net worth in the years ahead as people pay off their mortgages with age.

Homes are the most commonly owned nonfinancial asset after vehicles (percent of households owning nonfinancial assets by type, 2001)

85% 75%

68%

50%

25%

11%

8%

other residential property

nonresidential property

12%

0%

vehicles

primary residence

business equity

AMERICAN INCOMES: Demographics of Who Has Money 289

Table 5.5

Nonfinancial Assets of Households, 1989 to 2001

(median nonfinancial assets of households with assets by selected characteristics, 1989 to 2001; percent change, 1989–2001; in 2001 dollars) 2001

1998

1995

1992

1989

$113,500

$106,398

$96,050

$85,379

$92,911

Percentile of household income Less than 20 percent 34,281

Total households

percent change 1989–2001

22.2%

24,273

19,216

25,985

11,769

191.3

20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

57,023 92,195 151,587 224,550 479,537

56,900 85,309 134,508 179,081 360,610

49,816 74,910 120,553 173,375 291,125

45,535 61,868 114,704 155,414 353,951

51,927 70,612 116,380 187,852 404,300

9.8 30.6 30.3 19.5 18.6

Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74

30,538 117,806 141,558 147,863 149,211

24,654 112,602 137,991 138,154 119,568

25,486 111,211 130,593 124,830 109,631

21,468 102,003 116,777 131,687 97,474

23,606 116,035 148,554 129,249 86,717

29.4 1.5 -4.7 14.4 72.1

Aged 75 or older

122,619

104,575

91,311

86,090

71,129

72.4

Education of householder No high school diploma 68,037 High school diploma 88,696 Some college 109,019 College degree 193,214

54,424 89,690 116,575 158,345

56,029 87,930 84,434 150,229

44,886 67,560 93,332 140,689

56,572 78,458 98,967 163,627

20.3 13.0 10.2 18.1

Race or ethnicity of householder Non-Hispanic white 131,510 Nonwhite or Hispanic 58,199

117,119 56,573

108,244 40,252

98,959 43,215

103,234 39,160

27.4 48.6

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html; calculations by New Strategist

290 AMERICAN INCOMES: Demographics of Who Has Money

WEALTH

Table 5.6

Ownership of Nonfinancial Assets, 2001

(percent of households owning nonfinancial assets, and median value of asset for owners, by selected characteristics of households and type of asset, 2001) any nonfinancial asset

vehicles

primary residence

other residential property

equity in nonresidential property

business equity

other nonfinancial

PERCENT OWNING ASSET

Total households

90.7%

84.8%

67.7%

11.3%

8.3%

11.8%

7.6%

Percentile of household income Less than 20 percent 67.7 20 to 39.9 percent 93.1

56.8 86.7

40.6 57.3

3.1 5.4

2.8 6.7

2.5 7.1

2.9 6.1

40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

95.6 97.8 99.4 99.5

91.6 94.8 95.4 92.8

66.0 81.8 90.9 94.4

7.9 14.2 19.7 32.8

6.7 7.2 12.1 23.9

8.8 12.0 18.7 38.9

6.2 8.9 9.4 18.0

Age of householder Under age 35

83.0

78.8

39.9

3.4

2.8

7.0

6.9

Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

93.2 95.2 95.4 91.6 86.4

88.9 90.5 90.7 81.3 73.9

67.8 76.2 83.2 82.5 76.2

9.2 14.7 18.3 13.7 15.2

7.6 10.0 12.3 12.9 8.3

14.2 17.1 15.6 11.6 2.4

8.0 7.2 7.9 9.7 6.2

77.4 91.6 91.3 95.8

66.0 87.0 87.4 90.2

58.8 65.4 63.4 76.3

5.4 7.6 10.9 17.9

5.8 7.1 7.0 11.3

4.8 8.1 11.1 19.0

2.1 5.0 10.0 11.3

89.1 70.9

74.1 47.0

12.9 6.4

9.6 4.1

13.9 5.1

9.0 2.9

Education of householder No high school diploma High school diploma Some college College degree

Race or ethnicity of householder Non-Hispanic white Nonwhite or Hispanic

94.7 77.9

(continued)

AMERICAN INCOMES: Demographics of Who Has Money 291

any nonfinancial asset

vehicles

primary residence

other residential property

equity in nonresidential property

business equity

other nonfinancial

$113,200

$13,500

$122,000

$80,000

$49,000

$100,000

$12,000

Percentile of household income Less than 20 percent 34,300 20 to 39.9 percent 57,000 40 to 59.9 percent 92,200 60 to 79.9 percent 151,600

5,300 8,400 12,600 17,600

65,000 80,000 95,000 130,000

25,000 75,000 50,000 70,000

32,500 30,000 30,000 49,500

56,300 35,000 61,700 62,500

6,000 6,000 10,000 10,000

80 to 89.9 percent 90 to 100 percent

224,600 479,500

22,700 30,000

175,000 300,000

62,500 200,000

46,000 146,200

100,000 268,300

20,000 50,000

Age of householder Under age 35 Aged 35 to 44

30,500 117,800

11,300 14,800

95,000 125,000

75,000 75,000

33,300 39,500

50,000 100,000

10,000 9,000

Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

140,300 147,900 149,200 122,600

15,700 15,100 13,600 8,800

135,000 130,000 129,000 111,000

65,000 80,000 145,000 80,000

56,400 78,500 50,000 28,000

102,000 100,000 100,000 510,900

11,000 30,000 20,000 15,000

MEDIAN VALUE OF ASSET FOR OWNERS

Total households

Education of householder No high school diploma 68,000

8,500

75,000

50,000

30,000

60,000

6,000

88,700 109,000 193,200

12,300 13,000 17,400

95,000 120,000 180,000

49,000 102,300 100,000

33,300 50,000 69,800

100,000 57,400 120,000

8,000 11,000 20,000

Race or ethnicity of householder Non-Hispanic white 131,400

14,600

130,000

80,000

50,000

100,000

15,000

Nonwhite or Hispanic

10,000

92,000

60,000

22,500

50,000

5,000

High school diploma Some college College degree

58,200

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html

292 AMERICAN INCOMES: Demographics of Who Has Money

WEALTH

Most Households Have Debt Three out of four owe money on mortgages, credit cards, installment loans, or other lines of credit. The median amount of debt owed by the average household rose a substantial 88 percent between 1989 and 2001, to $38,775, after adjusting for inflation. This figure includes mortgage debt, car loans, credit card balances, and other IOUs. Between 1989 and 2001, debt more than doubled for households in the lowest 20 percent of the income distribution, among householders aged 55 to 64, and for nonwhite and Hispanic householders. Overall, 75 percent of households are in debt. The percentage of households with debt is highest among the affluent, householders under age 55, and the college educated. Only 29 percent of householders aged 75 or older are in debt versus 83 percent of householders under age 35. The percentage of households in debt does not vary much by race and Hispanic origin, with 76 percent of non-Hispanic white households in debt compared with a slightly smaller 73 percent of nonwhite or Hispanic households. Three types of debt are most common—mortgage and home equity loans (45 percent), installment loans such as for vehicles (45 percent), and credit card debt (44 percent). In every demographic group, the largest debts are mortgages. The median amount of homesecured debt was $70,000 in 2001. Credit card balances are a fact of life for the majority of middle-income households, householders under age 45, and those with some college experience but no degree. The median amount of credit card debt owed by the average household is a relatively modest $1,900, peaking at $2,800 to $3,800 for householders in the top 20 percent of the income distribution. ■ Most households are cautious about taking on debt, with mortgages accounting for the largest share of debt by far. As people pay off their mortgages, net worth will rise.

Debt falls with age as households pay off their mortgages (median amount of debt for households with debt, by age of householder, 2001)

$61,500 $54,300 $50,000

$34,600 $25,000

$24,900 $13,100 $5,000

$0

under 35

35 to 44

45 to 54

55 to 64

65 to 74

75 or older

AMERICAN INCOMES: Demographics of Who Has Money 293

Table 5.7

Debt of Households, 1989 to 2001

(median debt of households with debt by selected characteristics, 1989 to 2001; percent change, 1989–2001; in 2001 dollars)

Total households

2001

1998

1995

1992

1989

$38,775

$35,368

$24,987

$21,163

$20,647

Percentile of household income Less than 20 percent 5,153

percent change 1989–2001

87.8%

4,789

3,468

2,667

1,996

158.2

11,500 29,063 62,316 96,822 146,393

10,975 27,810 62,897 92,874 137,293

9,722 17,510 48,545 73,973 114,196

6,455 14,174 38,358 67,560 115,701

6,882 16,235 38,440 54,136 101,858

67.1 79.0 62.1 78.8 43.7

24,898 61,539 54,255 34,615 13,100

20,942 60,577 52,225 37,204 12,964

17,373 42,841 45,221 24,273 8,146

12,876 44,125 33,409 23,681 5,974

15,692 41,412 32,562 13,170 6,882

58.7 48.6 66.6 162.8 90.3

5,000

8,761

2,196

2,908

3,839

30.2

Education of householder No high school diploma 12,000 High school diploma 25,689 Some college 36,976 College degree 78,000

10,521 26,235 47,962 65,400

9,625 21,161 21,705 55,852

6,372 13,735 22,500 51,251

7,222 15,182 21,961 48,607

66.2 69.2 68.4 60.5

Race or ethnicity of householder Non-Hispanic white 44,478 Nonwhite or Hispanic 20,000

43,212 16,871

30,605 12,240

26,900 8,803

25,467 9,904

74.6 101.9

20 to 39.9 percent 40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent Age of householder Under age 35 Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html; calculations by New Strategist

294 AMERICAN INCOMES: Demographics of Who Has Money

WEALTH

Table 5.8

Households with Debt, 2001

(percent of households with debt, and median value of debt for those with debt, by selected characteristics of households and type of debt, 2001) any debt

home secured

other residential property

installment loans

credit card balances

other lines of credit

other debt

PERCENT WITH DEBT

Total households

75.1%

44.6%

4.7%

45.2%

44.4%

1.5%

7.2%

Percentile of household income Less than 20 percent 49.3 20 to 39.9 percent 70.2

13.8 27.0

– 1.8

25.5 43.2

30.3 44.5

1.3 1.5

5.9 5.6

40 to 59.9 percent 60 to 79.9 percent 80 to 89.9 percent 90 to 100 percent

82.1 85.6 91.4 85.3

44.4 61.8 76.9 75.4

3.2 5.4 10.3 14.9

51.9 56.7 55.7 41.2

52.8 52.6 50.3 33.1

1.5 1.5 2.6 1.4

7.7 7.7 9.3 8.8

Age of householder Under age 35

82.7

35.7

2.7

63.8

49.6

1.7

8.8

Aged 35 to 44 Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

88.6 84.6 75.4 56.8 29.2

59.6 59.8 49.0 32.0 9.5

4.9 6.5 8.0 3.4 2.0

57.1 45.9 39.3 21.1 9.5

54.1 50.4 41.6 30.0 18.4

1.7 1.5 3.1 – –

8.0 7.4 7.4 5.0 3.6

55.8 73.9 80.6 82.4

26.3 40.5 44.8 57.0

1.5 2.9 4.9 7.7

29.2 47.5 49.8 48.0

30.0 46.4 55.2 43.4

0.4 1.4 3.0 1.4

5.7 7.9 6.4 7.6

47.6 35.1

5.4 2.5

45.3 44.6

43.3 47.7

1.7 1.1

7.4 6.5

Education of householder No high school diploma High school diploma Some college College degree

Race or ethnicity of householder Non-Hispanic white Nonwhite or Hispanic

75.8 72.9

(continued)

AMERICAN INCOMES: Demographics of Who Has Money 295

any debt

home secured

other residential property

installment loans

credit card balances

other lines of credit

other debt

$38,800

$70,000

$40,000

$9,700

$1,900

$3,900

$3,000

Percentile of household income Less than 20 percent 5,200 20 to 39.9 percent 11,500 40 to 59.9 percent 29,100 60 to 79.9 percent 62,300

28,000 40,000 56,100 75,600

– 30,000 38,800 41,900

4,600 6,600 9,700 11,900

1,000 1,200 2,000 2,300

500 1,100 700 4,000

1,000 3,000 2,000 3,000

96,800 146,400

91,000 134,000

31,200 77,000

14,500 13,400

3,800 2,800

7,800 10,000

4,000 21,000

Age of householder Under age 35 Aged 35 to 44

24,900 61,500

77,000 80,000

52,000 45,500

9,500 11,100

2,000 2,000

500 700

2,000 3,100

Aged 45 to 54 Aged 55 to 64 Aged 65 to 74 Aged 75 or older

54,300 34,600 13,100 5,000

75,000 55,000 39,000 44,800

33,500 40,000 77,000 42,000

9,600 9,000 7,000 5,800

2,300 1,900 1,000 700

5,300 20,500 – –

5,000 5,000 2,500 2,500

Education of householder No high school diploma 12,000

30,000

15,100

6,200

1,000

200

1,000

High school diploma Some college College degree

53,000 72,000 95,000

37,500 42,000 46,000

7,900 10,000 12,400

1,700 2,000 2,500

7,800 3,500 4,000

2,600 2,000 5,500

MEDIAN VALUE OF DEBT FOR HOLDERS

Total households

80 to 89.9 percent 90 to 100 percent

25,700 37,000 78,000

Race or ethnicity of householder Non-Hispanic white 44,500

74,000

40,000

10,000

2,000

4,000

3,600

Nonwhite or Hispanic

61,000

40,000

8,100

1,500

1,000

2,000

20,000

Note: (–) means sample is too small to make a reliable estimate. Source: Federal Reserve Board, results from the Survey of Consumer Finances; Internet site http://www.federalreserve.gov/pubs/ oss/oss2/2001/scf2001home.html

296 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY CHAPTER

6

Poverty Poverty rose between 2000 and 2002 because of recession and job losses. Despite the rise, the poverty rate in 2002 was below the rate of the 1980s and most of the 1990s. In 2002, the poverty rate stood at 12.1 percent, up from the low of 11.3 percent it reached in 2000. But the rate had been as high as 15.2 percent in 1983 and 15.1 percent in 1993. The poverty population has changed over the years. The elderly were once most likely to be poor. Today, children have a higher poverty rate (16.7 percent) than the elderly (10.4 percent). Among household types, married couples once accounted for the majority of poor families. Today, female-headed families account for half of the nation’s families in poverty. Non-Hispanic whites once accounted for the majority of poor. Today, the majority are black, Hispanic, or Asian. In 1980, blacks outnumbered Hispanics by more than two to one among the poor. Now the number of poor Hispanics almost equals the number of poor blacks because the Hispanic population has grown rapidly and poverty rates have fallen sharply for blacks. Marriage, a college education, and full-time work are the surest escape routes out of poverty. With female-headed families and their children becoming a larger share of the poverty population, it has become more difficult to significantly reduce the poverty rate. ■ Poverty rates will not fall much below their current levels until single-parent families become less common.

AMERICAN INCOMES: Demographics of Who Has Money 297

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POVERTY

Poverty Trends

AMERICAN INCOMES: Demographics of Who Has Money 299

Women Head Half the Nation’s Poor Families The share of poor families headed by women has fallen slightly during the past few years. In 2002, women without a spouse headed 50 percent of the nation’s poor families. This figure is down from its high of 55 percent in 1997. Conversely, married couples accounted for 42 percent of poor families in 2002, up from the low of 39 percent in 1997. Few poor families are headed by men, although the proportion has more than doubled over the past few decades. Male-headed families accounted for 8 percent of poor families in 2002, up from 3 percent in 1980. ■ Hispanics with little education and low earnings head a growing proportion of married couples, accounting for the rise in the married-couple share of poor families.

Married couples are a minority of poor families (percent of families in poverty by family type, 1980 to 2002)

48%

49%

55%

53%

50% 42%

42%

39%

40%

20%

female-headed families married couples

0%

1980

300 AMERICAN INCOMES: Demographics of Who Has Money

1990

1997

2002

POVERTY

Table 6.1

Distribution of Families below Poverty Level by Family Type, 1980 to 2002

(total number of families below poverty level and percent distribution by family type, 1980 to 2002; families in thousands as of the following year)

total families in poverty

married couples

female householder, no spouse present

male householder, no spouse present

number

percent

2002 2001 2000 1999 1998

7,229 6,813 6,400 6,792 7,186

100.0% 100.0 100.0 100.0 100.0

42.2% 40.5 41.2 40.5 40.1

50.0% 50.9 51.2 52.4 53.3

7.8% 8.6 7.6 7.1 6.6

1997 1996 1995 1994 1993 1992 1991

7,324 7,708 7,532 8,053 8,393 8,144 7,712

100.0 100.0 100.0 100.0 100.0 100.0 100.0

38.5 39.1 39.6 40.6 41.5 41.6 40.9

54.5 54.1 53.9 52.6 52.7 52.5 54.0

6.9 6.9 6.5 6.8 5.8 5.9 5.1

1990 1989 1988 1987 1986 1985

7,098 6,784 6,874 7,005 7,023 7,223

100.0 100.0 100.0 100.0 100.0 100.0

42.0 43.2 42.1 43.0 44.5 47.6

53.1 51.7 53.0 52.2 51.4 48.1

4.9 5.1 4.9 4.9 4.1 4.3

1984 1983 1982 1981 1980

7,277 7,647 7,512 6,851 6,217

100.0 100.0 100.0 100.0 100.0

47.9 49.9 50.4 49.5 48.8

48.1 46.6 45.7 47.5 47.8

4.0 3.5 3.8 3.0 3.4

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 301

Since 1980, Poverty Rates Have Fallen for Most Families The biggest decline has been for black families. Although family poverty was slightly higher in 2002 than the lows reached in 2000, rates were still below the levels of the 1980s and early 1990s. In 2002, 9.6 percent of families had incomes that placed them below poverty level. While this was higher than the 8.7 percent of 2000, it was well below the 12.3 percent peak of 1983. Poverty rates were lower in 2002 than in the 1980s and early 1990s for every type of family—married couples, female-headed families, and male-headed families. Poverty rates have fallen most sharply for black families. In 2002, 21.4 percent were poor, up from the low of 19.3 percent in 2000, but far below the high of 33.0 percent in 1982. Black female-headed families have experienced the greatest decline in poverty, their rate falling from a high of 56.2 percent in 1982 to a low of 34.3 percent in 2000, then rising to 35.7 in 2002. The poverty rate of Hispanic families is about the same as that for black families, with one exception. Hispanic married couples are much more likely than black couples to be poor. Fifteen percent of Hispanic couples were poor in 2002 versus only 8 percent of black couples. ■ Because of Hispanic immigration, the number of Hispanic families in poverty has more than doubled since 1980.

The poverty rate has fallen the most for black families since 1980 (poverty rate of families by race and Hispanic origin of householder, 1980 and 2002)

28.9% 23.2% 21.4% 20%

19.7%

10%

7.0%

6.0% 1980 2002

0%

black

302 AMERICAN INCOMES: Demographics of Who Has Money

Hispanic

non-Hispanic white

POVERTY

Table 6.2

Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Total Families

(number and percent of families below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total families in poverty number

2002

7,229

2001 2000 1999 1998 1997 1996

6,813 6,400 6,792 7,186 7,324 7,708

1995 1994 1993 1992 1991 1990

female householder, no spouse present

married couples

percent

9.6%

number

percent

number

percent

male householder, no spouse present number

percent

3,052

5.3%

3,613

26.5%

564

12.1%

9.2 8.7 9.3 10.0 10.3 11.0

2,760 2,637 2,748 2,879 2,821 3,010

4.9 4.7 4.9 5.3 5.2 5.6

3,470 3,278 3,559 3,831 3,995 4,167

26.4 25.4 27.8 29.9 31.6 32.6

583 485 485 476 507 531

13.1 11.3 11.8 12.0 13.0 13.8

7,532 8,053 8,393 8,144 7,712 7,098

10.8 11.6 12.3 11.9 11.5 10.7

2,982 3,272 3,481 3,385 3,158 2,981

5.6 6.1 6.5 6.4 6.0 5.7

4,057 4,232 4,424 4,275 4,161 3,768

32.4 34.6 35.6 35.4 35.6 33.4

493 549 488 484 392 349

14.0 17.0 16.8 15.8 13.0 12.0

1989 1988 1987 1986 1985 1984

6,784 6,874 7,005 7,023 7,223 7,277

10.3 10.4 10.7 10.9 11.4 11.6

2,931 2,897 3,011 3,123 3,438 3,488

5.6 5.6 5.8 6.1 6.7 6.9

3,504 3,642 3,654 3,613 3,474 3,498

32.2 33.4 34.2 34.6 34.0 34.5

348 336 340 287 311 292

12.1 11.8 12.0 11.4 12.9 13.1

1983 1982 1981 1980

7,647 7,512 6,851 6,217

12.3 12.2 11.2 10.3

3,815 3,789 3,394 3,032

7.6 7.6 6.8 6.2

3,564 3,434 3,252 2,972

36.0 36.3 34.6 32.7

268 290 205 213

13.2 14.4 10.3 11.0

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

AMERICAN INCOMES: Demographics of Who Has Money 303

Table 6.3

Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Black Families

(number and percent of black families below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total black families in poverty number

percent

female householder, no spouse present

married couples number

2002 2001 2000 1999 1998 1997

1,958 1,829 1,686 1,887 1,981 1,985

21.4% 20.7 19.3 21.8 23.4 23.6

340 328 266 295 290 312

1996 1995 1994 1993 1992 1991

2,206 2,127 2,212 2,499 2,484 2,343

26.1 26.4 27.3 31.3 31.1 30.4

352 314 336 458 490 399

1990 1989 1988 1987 1986 1985

2,193 2,077 2,089 2,117 1,987 1,983

29.3 27.8 28.2 29.4 28.0 28.7

1984 1983 1982 1981 1980

2,094 2,161 2,158 1,972 1,826

30.9 32.3 33.0 30.8 28.9

percent

8.0% 7.8 6.3 7.1 7.3 8.0

number

percent

male householder, no spouse present number

percent

1,454 1,351 1,300 1,487 1,557 1,563

35.7% 35.2 34.3 39.2 40.8 39.8

165 150 120 105 134 111

20.8% 19.4 16.3 14.8 20.3 19.7

9.1 8.5 8.7 12.3 13.0 11.0

1,724 1,701 1,715 1,908 1,878 1,834

43.7 45.1 46.2 49.9 50.2 51.2

130 112 161 133 116 110

19.8 19.5 30.1 29.6 24.8 21.9

448 443 421 439 403 447

12.6 11.8 11.3 11.9 10.8 12.2

1,648 1,524 1,579 1,577 1,488 1,452

48.1 46.5 49.0 51.1 50.1 50.5

97 110 88 101 96 84

20.6 24.7 18.9 23.4 24.9 22.9

479 535 543 543 474

13.8 15.5 15.6 15.4 14.0

1,533 1,541 1,535 1,377 1,301

51.7 53.7 56.2 52.9 49.4

82 85 79 52 52

23.8 24.0 25.6 19.1 17.7

Note: 2002 data are for the black-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

304 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.4

Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Hispanic Families

(number and percent of Hispanic families below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total Hispanic families in poverty number

percent

married couples number

percent

female householder, no spouse present number

percent

male householder, no spouse present number

percent

2002 2001 2000

1,792 1,649 1,540

19.7% 19.4 19.2

927 799 772

15.0% 13.8 14.2

717 711 664

35.3% 37.0 36.4

148 139 104

17.0% 17.0 13.6

1999 1998 1997 1996 1995 1994

1,593 1,648 1,721 1,748 1,695 1,724

20.5 22.7 24.7 26.4 27.0 27.8

758 775 836 815 803 827

14.4 15.7 17.4 18.0 18.9 19.5

717 756 767 823 792 773

39.3 43.7 47.6 50.9 49.4 52.1

117 117 119 110 100 124

17.0 19.6 21.7 22.3 22.9 25.8

1993 1992 1991 1990 1989 1988

1,625 1,529 1,372 1,244 1,133 1,141

27.3 26.7 26.5 25.0 23.4 23.7

770 743 674 605 549 547

19.1 18.8 19.1 17.5 16.2 16.1

772 664 627 573 530 546

51.6 49.3 49.7 48.3 47.5 49.1

83 122 71 66 54 48

20.2 27.4 18.5 19.4 16.3 15.2

1987 1986 1985 1984 1983 1982

1,168 1,085 1,074 991 981 916

25.5 24.7 25.5 25.2 25.9 27.2

556 518 505 469 437 465

17.4 16.6 17.0 16.6 17.7 19.0

565 528 521 483 454 425

52.2 51.2 53.1 53.4 52.8 55.4

47 39 48 39 40 26

15.8 15.5 18.4 18.4 22.6 17.0

1981 1980

792 751

24.0 23.2

366 363

15.1 15.3

399 362

53.2 51.3

27 26

19.2 16.0

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

AMERICAN INCOMES: Demographics of Who Has Money 305

Table 6.5

Number and Percent of Families below Poverty Level by Family Type, 1980 to 2002: Non-Hispanic White Families

(number and percent of non-Hispanic white families below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total non-Hispanic white families in poverty number

percent

female householder, no spouse present

married couples number

percent

number

percent

male householder, no spouse present number

percent

2002

3,208

6.0%

1,628

3.7%

1,374

19.4%

207

2001 2000 1999 1998 1997 1996

3,051 2,896 2,953 3,264 3,357 3,433

5.7 5.4 5.5 6.1 6.3 6.5

1,477 1,435 1,474 1,639 1,501 1,628

3.3 3.2 3.3 3.8 3.5 3.8

1,305 1,226 1,248 1,428 1,598 1,538

19.0 17.8 18.4 20.7 23.4 22.4

270 236 231 197 258 267

10.3 9.2 9.3 7.8 9.8 10.8

7.7%

1995 1994 1993 1992 1991 1990

3,384 3,833 3,988 3,840 3,719 3,442

6.4 7.2 7.6 7.3 7.1 6.6

1,664 1,915 2,042 1,978 1,918 1,799

3.8 4.3 4.7 4.5 4.4 4.1

1,463 1,678 1,699 1,637 1,610 1,480

21.5 24.8 25.0 24.7 24.6 23.1

257 241 248 225 190 163

11.2 11.5 12.9 11.2 9.4 8.4

1989 1988 1987 1986 1985 1984

3,325 3,373 3,466 3,768 3,948 3,972

6.4 6.5 6.7 7.3 7.8 7.9

1,798 1,763 1,847 2,081 2,316 2,400

4.1 4.0 4.3 4.8 5.4 5.6

1,355 1,426 1,443 1,542 1,460 1,422

21.7 22.7 23.0 24.7 23.6 23.4

172 184 177 144 172 150

8.6 9.3 8.9 8.0 10.1 9.3

1983 1982 1981 1980

4,286 4,237 3,907 3,470

8.5 8.5 7.8 7.0

2,649 2,648 2,353 2,083

6.2 6.2 5.5 4.9

1,501 1,413 1,436 1,264

25.1 24.5 24.3 22.6

135 176 119 123

9.3 11.8 7.9 8.6

Note: 2002 data are for the white-alone-and-not-Hispanic population, which includes only those identifying themselves as being white and no other race and not Hispanic. The 2002 figures are not strictly comparable with those for earlier years, which may have included whites in combination with one or more other races. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

306 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Female-Headed Families with Children Are Less Likely to Be Poor Poverty rates fell the most for those headed by Hispanics and blacks. Fourteen percent of families with children under age 18 were poor in 2002, a figure that has drifted up and down over the past two decades. The poverty rate of female-headed families with children has fallen substantially over the years, from 42.9 percent in 1980 to 33.7 percent in 2002. Poverty is also down for married couples, although the 6.8 percent rate of 2002 was higher than the all-time low of 6.0 percent in 2000. The poverty rate of maleheaded families stood at 16.6 percent in 2002. Hispanic and black female-headed single-parent families saw the steepest decline in poverty. In the early 1980s, more than 60 percent were poor. By 2002, the figure was a much smaller 41 percent. Black married couples with children also experienced a substantial decline in poverty, their rate falling from 15.5 percent in 1980 to 8.5 percent in 2002. Hispanic married couples with children are twice as likely to be poor than their black counterparts, with a poverty rate of 17.7 percent in 2002. ■ The poverty rate of female-headed families fell during the 1990s as welfare reform encouraged many single parents to get jobs.

Poverty is down for female-headed families with children since 1980 (poverty rate of female-headed families with children, 1980 and 2002)

42.9% 40%

33.7%

20%

0%

1980

2002

AMERICAN INCOMES: Demographics of Who Has Money 307

Table 6.6

Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Total Families

(number and percent of families with related children under age 18 below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total families with children in poverty number

percent

female householder, no spouse present

married couples number

percent

number

percent

male householder, no spouse present number

percent

2002 2001 2000 1999 1998 1997

5,397 5,138 4,866 5,210 5,628 5,884

13.9% 13.4 12.7 13.8 15.1 15.7

1,831 1,643 1,615 1,711 1,822 1,863

6.8% 6.1 6.0 6.4 6.9 7.1

3,171 3,083 2,906 3,139 3,456 3,614

33.7% 33.6 33.0 35.7 38.7 41.0

395 412 345 360 350 407

16.6% 17.7 15.3 16.3 16.6 18.7

1996 1995 1994 1993 1992 1991

6,131 5,976 6,408 6,751 6,457 6,170

16.5 16.3 17.4 18.5 18.0 17.7

1,964 1,961 2,197 2,363 2,237 2,106

7.5 7.5 8.3 9.0 8.6 8.3

3,755 3,634 3,816 4,034 3,867 3,767

41.9 41.5 44.0 46.1 46.2 47.1

412 381 395 354 353 297

20.0 19.7 22.6 22.5 22.5 19.6

1990 1989 1988 1987 1986 1985

5,676 5,308 5,373 5,465 5,516 5,586

16.4 15.5 15.7 16.1 16.3 16.7

1,990 1,872 1,847 1,963 2,050 2,258

7.8 7.3 7.2 7.7 8.0 8.9

3,426 3,190 3,294 3,281 3,264 3,131

44.5 42.8 44.7 45.5 46.0 45.4

260 246 232 221 202 197

18.8 18.1 18.0 16.8 17.8 17.1

1984 1983 1982 1981 1980

5,662 5,871 5,712 5,191 4,822

17.2 17.9 17.5 15.9 14.7

2,344 2,557 2,470 2,199 1,974

9.4 10.1 9.8 8.7 7.7

3,124 3,122 3,059 2,877 2,703

45.7 47.1 47.8 44.3 42.9

194 192 184 115 144

18.1 20.2 20.6 14.0 18.0

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

308

AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.7

Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Black Families

(number and percent of black families with related children under age 18 below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total black families with children in poverty number

percent

female householder, no spouse present

married couples number

2002 2001 2000

1,597 1,524 1,411

27.2% 26.6 25.3

199 205 157

1999 1998 1997 1996 1995 1994

1,603 1,673 1,721 1,941 1,821 1,954

28.9 30.5 30.5 34.1 34.1 35.9

199 189 205 239 209 245

1993 1992 1991 1990 1989 1988

2,171 2,132 2,016 1,887 1,783 1,802

39.3 39.1 39.2 37.2 35.4 36.0

1987 1986 1985 1984 1983 1982

1,788 1,699 1,670 1,758 1,789 1,819

1981 1980

1,652 1,583

percent

8.5% 8.7 6.7

number

percent

male householder, no spouse present number

percent

1,288 1,220 1,177

41.3% 40.8 41.0

110 99 76

26.3% 24.6 21.7

8.7 8.6 9.0 11.0 9.9 11.4

1,320 1,397 1,436 1,593 1,533 1,591

46.0 47.5 46.9 51.0 53.2 53.9

84 88 81 109 79 118

21.7 24.8 25.8 27.2 23.4 34.6

298 343 263 301 291 272

13.9 15.4 12.4 14.3 13.3 12.5

1,780 1,706 1,676 1,513 1,415 1,452

57.7 57.4 60.5 56.1 53.9 56.2

93 83 77 73 77 78

31.6 33.5 31.7 27.3 33.8 31.7

36.6 35.4 36.0 39.0 39.9 40.7

290 257 281 331 369 360

13.2 11.5 12.9 16.6 18.0 17.2

1,437 1,384 1,336 1,364 1,362 1,401

58.6 58.0 58.9 58.4 60.7 63.7

61 58 53 62 58 58

27.5 31.5 29.0 35.5 31.1 32.7

37.1 35.5

357 333

16.2 15.5

1,261 1,217

59.5 56.0

34 34

25.0 24.0

Note: 2002 data are for the black-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

AMERICAN INCOMES: Demographics of Who Has Money 309

Table 6.8

Number and Percent of Families with Children below Poverty Level by Family Type, 1980 to 2002: Hispanic Families

(number and percent of Hispanic families with related children under age 18 below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total Hispanic families with children in poverty number

percent

female householder, no spouse present

married couples number

percent

number

male householder, no spouse present

percent

number

percent

2002 2001 2000 1999

1,527 1,405 1,323 1,400

24.1% 23.7 23.3 25.2

752 646 649 640

17.7% 16.2 16.8 17.0

657 645 597 662

41.4% 43.2 42.9 46.8

118 115 77 98

23.6% 24.5 18.4 26.1

1998 1997 1996 1995 1994 1993

1,454 1,492 1,549 1,470 1,497 1,424

28.6 30.4 33.0 33.2 34.2 34.3

656 692 687 657 698 652

19.3 21.0 22.0 22.6 23.9 23.7

707 701 760 735 700 706

52.2 54.2 59.7 57.3 59.2 60.5

91 99 102 78 99 66

28.0 30.5 35.1 32.9 36.4 27.6

1992 1991 1990 1989 1988 1987

1,302 1,219 1,085 986 988 1,022

32.9 33.7 31.0 29.8 29.7 31.9

615 575 501 453 445 460

22.9 23.5 20.8 19.6 19.0 20.9

598 584 536 491 510 527

57.7 60.1 58.2 57.9 59.2 60.9

89 60 48 42 33 35

38.2 29.4 28.1 26.8 26.4 25.2

1986 1985 1984 1983 1982 1981

949 955 872 867 802 692

30.8 32.1 31.3 21.1 32.6 28.5

– – – – – –

– – – – – –

489 493 447 418 391 374

59.5 64.0 62.8 63.4 63.8 60.0

– – – – – –

– – – – – –

1980

655

27.2

–

–

–

–

–

–

Note: (–) means data not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

310 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.9

Number and Percent of Families with Children Below Poverty Level by Family Type, 1980 to 2002: Non-Hispanic White Families

(number and percent of non-Hispanic white families with related children under age 18 below poverty level by family type, 1980 to 2002; families in thousands as of the following year) total non-Hispanic white families with children in poverty number

percent

female householder, no spouse present

married couples number

percent

number

percent

male householder, no spouse present number

percent

2002

2,088

8.5%

781

4.1%

1,170

26.2%

137

10.4%

2001 2000 1999 1998 1997 1996

2,014 1,940 1,973 2,282 2,478 2,424

8.1 7.7 8.0 9.1 9.8 9.6

696 709 743 859 842 884

3.6 3.7 3.9 4.5 4.3 4.5

1,135 1,058 1,069 1,275 1,420 1,351

25.7 24.6 25.3 28.8 32.9 31.0

184 173 161 148 215 190

13.4 12.3 12.0 10.9 14.7 14.7

1995 1994 1993 1992 1991 1990

2,445 2,733 2,946 2,817 2,722 2,522

9.6 10.6 11.6 11.2 10.9 10.2

948 1,101 1,263 1,177 1,152 1,085

4.8 5.4 6.3 5.9 5.8 5.4

1,294 1,471 1,506 1,474 1,429 1,317

29.7 33.5 34.8 35.5 35.1 33.5

202 161 177 166 141 119

15.9 15.0 18.0 16.1 14.1 13.6

1989 1988 1987 1986 1985 1984

2,348 2,366 2,468 2,725 2,776 2,838

9.5 9.5 9.9 10.9 11.1 11.5

1,019 998 1,093 1,269 1,406 1,489

5.1 4.9 5.4 6.2 6.9 7.4

1,205 1,255 1,256 1,350 1,266 1,259

31.5 33.5 33.6 35.8 33.9 34.4

123 114 118 106 104 91

13.2 12.8 13.0 13.4 13.1 11.9

1983 1982 1981 1980

3,034 2,939 2,698 2,083

12.3 11.9 10.8 8.3

1,651 1,619 1,424 1,251

8.1 7.8 6.9 5.9

1,286 1,215 1,211 1,110

35.8 35.2 33.2 32.4

97 105 62 84

15.0 17.0 10.5 15.3

Note: 2002 data are for the white-alone-and-not-Hispanic population, which includes only those identifying themselves as being white and no other race and not Hispanic. The 2002 figures are not strictly comparable with those for earlier years, which may have included whites in combination with one or more other races. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

AMERICAN INCOMES: Demographics of Who Has Money 311

Poverty Rates Rose between 2000 and 2002 Females account for the majority of poor, a proportion that has not changed in decades. The poverty rate stood at 12.1 percent in 2002, up slightly from the 11.3 percent low achieved in 2000. Behind the rise in poverty was the recession of 2001 and job losses. Despite the increase, the poverty rate is still below the level of the 1980s and most of the 1990s. In 2002, females accounted for the 56 percent majority of the nation’s 35 million poor. This proportion has remained about the same for decades. Poverty rates for males and females have changed little over the years despite all the effort at combating poverty. Among females, 14.7 percent were poor in 1980. The figure fell slightly to 13.3 percent in 2002. Males are less likely to be poor than females. In both 1980 and 2002, about 11 percent of the nation’s males were poor. ■ Females have higher poverty rates than males because they are more likely to be raising children alone, limiting their ability to work full-time.

The poverty rate was up in 2002, but still below 1980 and 1990 levels (percent of people in poverty, 1980 to 2002)

13.0%

13.5% 11.3%

12.1%

10%

5%

0%

1980

312 AMERICAN INCOMES: Demographics of Who Has Money

1990

2000

2002

POVERTY

Table 6.10

Number and Percent of People below Poverty Level by Sex, 1980 to 2002

(number and percent of people below poverty level by sex, and female share of poor, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

female number

male percent

number

percent

percent of poor who are female

2002 2001

34,570 32,907

12.1% 11.7

19,408 18,580

13.3% 12.9

15,162 14,327

10.9% 10.4

56% 56

2000 1999 1998 1997 1996 1995

31,581 32,791 34,476 35,574 36,529 36,425

11.3 11.9 12.7 13.3 13.7 13.8

18,045 18,712 19,764 20,387 20,918 20,742

12.6 13.2 14.3 14.9 15.4 15.4

13,536 14,079 14,712 15,187 15,611 15,683

9.9 10.4 11.1 11.6 12.0 12.2

57 57 57 57 57 57

1994 1993 1992 1991 1990 1989

38,059 39,265 38,014 35,708 33,585 31,528

14.5 15.1 14.8 14.2 13.5 12.8

21,744 22,365 21,792 20,626 19,373 18,162

16.3 16.9 16.6 16.0 15.2 14.4

16,316 16,900 16,222 15,082 14,211 13,366

12.8 13.3 12.9 12.3 11.7 11.2

57 57 57 58 58 58

1988 1987 1986 1985 1984 1983

31,745 32,221 32,370 33,064 33,700 35,303

13.0 13.4 13.6 14.0 14.4 15.2

18,146 18,518 18,649 18,923 19,163 20,084

14.5 15.0 15.2 15.6 15.9 16.8

13,599 14,029 13,721 14,140 14,537 15,182

11.5 12.0 11.8 12.3 12.8 13.5

57 57 58 57 57 57

1982 1981 1980

34,398 31,822 29,272

15.0 14.0 13.0

19,556 18,462 17,065

16.5 15.8 14.7

14,842 13,360 12,207

13.4 12.1 11.2

57 58 58

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 313

A Growing Share of Poor People Are Aged 18 to 64 Older Americans are a smaller share of the poor than they once were. Most of the nation’s 35 million poor are aged 18 to 64. In 2002, 55 percent of people in poverty were of working age, up from 47 percent in 1980. In contrast, children are a smaller share of the poor than they once were. The percentage of poor under age 18 fell from 39 to 35 percent between 1980 and 2002. The share of the poor who are aged 65 or older also fell, declining from 13 to 10 percent. The poverty rates of children and the elderly have fallen since 1980, while the rate for people aged 18 to 64 has not changed. Among children, the poverty rate fell from 18.3 percent in 1980 to 16.7 percent in 2002. During much of the 1980s and 1990s, the poverty rate of children exceeded 20 percent. The poverty rate of people aged 65 or older has fallen fairly steadily since 1980, from 15.7 percent to 10.4 percent in 2002. The poverty rate of people aged 18 to 64 has barely budged since 1980, drifting between 10 and 12 percent. ■ Poverty rates among the elderly have fallen because a more educated and affluent generation has entered the age group.

The poverty rate has fallen since 1980 for children and older Americans (poverty rate of people by age, 1980 to 2002)

18.3% 16.7%

15.7%

15%

10.1%

10.6%

10.4%

10%

5% 1980 2002

0%

under 18

314 AMERICAN INCOMES: Demographics of Who Has Money

18 to 64

65 or older

POVERTY

Table 6.11

Distribution of People below Poverty Level by Age, 1980 to 2002

(number of people below poverty level and percent distribution by age, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

under 18

18 to 64

65 or older

2002 2001 2000 1999 1998 1997

34,570 32,907 31,581 32,791 34,476 35,574

100.0% 100.0 100.0 100.0 100.0 100.0

35.1% 35.7 36.7 37.4 39.1 39.7

54.6% 54.0 52.8 52.7 51.1 50.8

10.3% 10.4 10.5 9.8 9.8 9.5

1996 1995 1994 1993 1992 1991

36,529 36,425 38,059 39,265 38,014 35,708

100.0 100.0 100.0 100.0 100.0 100.0

39.6 40.3 40.2 40.1 40.2 40.2

51.0 50.6 50.2 50.4 49.4 49.2

9.4 9.1 9.6 9.6 10.3 10.6

1990 1989 1988 1987 1986 1985

33,585 31,528 31,745 32,221 32,370 33,064

100.0 100.0 100.0 100.0 100.0 100.0

40.0 39.9 39.2 39.9 39.8 39.3

49.1 49.4 49.8 49.1 49.5 50.2

10.9 10.7 11.0 11.1 10.7 10.5

1984 1983 1982 1981 1980

33,700 35,303 34,398 31,822 29,272

100.0 100.0 100.0 100.0 100.0

39.8 39.4 39.7 39.3 39.4

50.3 50.3 49.4 48.6 47.3

9.9 10.3 10.9 12.1 13.2

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 315

Table 6.12

Number and Percent of People below Poverty Level by Age, 1980 to 2002

(number and percent of people below poverty level by age, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

under 18 number

18 to 64 percent

number

65 or older percent

number

percent

2002 2001 2000

34,570 32,907 31,581

12.1% 11.7 11.3

12,133 11,733 11,587

16.7% 16.3 16.2

18,861 17,760 16,671

10.6% 10.1 9.6

3,576 3,414 3,323

10.4% 10.1 9.9

1999 1998 1997 1996 1995 1994

32,791 34,476 35,574 36,529 36,425 38,059

11.9 12.7 13.3 13.7 13.8 14.5

12,280 13,467 14,113 14,463 14,665 15,289

17.1 18.9 19.9 20.5 20.8 21.8

17,289 17,623 18,085 18,638 18,442 19,107

10.1 10.5 10.9 11.4 11.4 11.9

3,222 3,386 3,376 3,428 3,318 3,663

9.7 10.5 10.5 10.8 10.5 11.7

1993 1992 1991 1990 1989 1988

39,265 38,014 35,708 33,585 31,528 31,745

15.1 14.8 14.2 13.5 12.8 13.0

15,727 15,294 14,341 13,431 12,590 12,455

22.7 22.3 21.8 20.6 19.6 19.5

19,781 18,793 17,586 16,496 15,575 15,809

12.4 11.9 11.4 10.7 10.2 10.5

3,755 3,928 3,781 3,658 3,363 3,481

12.2 12.9 12.4 12.2 11.4 12.0

1987 1986 1985 1984 1983 1982

32,221 32,370 33,064 33,700 35,303 34,398

13.4 13.6 14.0 14.4 15.2 15.0

12,843 12,876 13,010 13,420 13,911 13,647

20.3 20.5 20.7 21.5 22.3 21.9

15,815 16,017 16,598 16,952 17,767 17,000

10.6 10.8 11.3 11.7 12.4 12.0

3,563 3,477 3,456 3,330 3,625 3,751

12.5 12.4 12.6 12.4 13.8 14.6

1981 1980

31,822 29,272

14.0 13.0

12,505 11,543

20.0 18.3

15,464 13,858

11.1 10.1

3,853 3,871

15.3 15.7

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

316 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Non-Hispanic Whites Are a Minority of Poor The majority of poor are Asian, black, or Hispanic. In 1980, non-Hispanic whites accounted for 56 percent of the poverty population. By 2002, the figure had fallen to 45 percent. The black share of the poor also fell during those years, from 29 to 26 percent. In contrast, the Hispanic share of the poor more than doubled, rising from 12 to 25 percent. Fewer than 4 percent of poor Americans are Asian. During the past two decades, the black poverty rate has declined substantially. In 1980, 32.5 percent of blacks were poor. By 2002, the figure had fallen to 23.9 percent. The poverty rate has also fallen among Hispanics, from 25.7 to 21.8 percent. The poverty rate dropped from 9.1 to 8.0 percent among non-Hispanic whites during those years. Asians are more likely to be poor than non-Hispanic whites (with a poverty rate of 10.0 percent in 2002), but are much less likely to be poor than blacks or Hispanics. ■ Poverty has declined sharply among blacks because the black population is better educated and has more job opportunities than in the past.

Poverty is down sharply among blacks since 1980 (poverty rate of people by race and Hispanic origin, 1980 and 2002)

32.5% 30%

23.9%

25.7% 21.8%

20%

9.1%

10%

8.0% 1980 2002

0%

black

Hispanic

non-Hispanic white

AMERICAN INCOMES: Demographics of Who Has Money 317

Table 6.13

Distribution of People below Poverty Level by Race and Hispanic Origin, 1980 to 2002

(number of people below poverty level and percent distribution by race and Hispanic origin, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

Asian

black

Hispanic

non-Hispanic white

2002 2001 2000

34,570 32,907 31,581

100.0% 100.0 100.0

3.6% 3.9 4.0

25.7% 24.7 25.3

24.7% 24.3 24.5

45.0% 46.4 45.5

1999 1998 1997 1996 1995 1994

32,791 34,476 35,574 36,529 36,425 38,059

100.0 100.0 100.0 100.0 100.0 100.0

3.9 3.9 4.1 4.0 3.9 2.6

25.7 26.4 25.6 26.5 27.1 26.8

24.0 23.4 23.4 23.8 23.5 22.1

44.9 45.8 46.4 45.1 44.7 47.6

1993 1992 1991 1990 1989 1988

39,265 38,014 35,708 33,585 31,528 31,745

100.0 100.0 100.0 100.0 100.0 100.0

2.9 2.6 2.8 2.6 3.0 3.5

27.7 28.5 28.7 29.3 29.5 29.5

20.7 20.0 17.8 17.9 17.2 16.9

48.1 47.9 49.7 49.5 49.5 49.0

1987 1986 1985 1984 1983 1982

32,221 32,370 33,064 33,700 35,303 34,398

100.0 100.0 100.0 100.0 100.0 100.0

3.2 – – – – –

29.5 27.8 27.0 28.2 28.0 28.2

16.8 15.8 15.8 14.3 13.1 12.5

49.7 53.3 54.0 54.3 55.3 56.3

1981 1980

31,822 29,272

100.0 100.0

– –

28.8 29.3

11.7 11.9

56.5 55.9

Note: 2002 data are for the race-alone-or-in-combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. Hispanics may be of any race. Non-Hispanic whites are those who identified themselves as being white alone and not Hispanic. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

318 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.14

Number and Percent of People below Poverty Level by Race and Hispanic Origin, 1980 to 2002

(number and percent of people below poverty level by race and Hispanic origin, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

Asian number

black percent

number

Hispanic percent

number

percent

non-Hispanic white number

percent

2002

34,570

12.1%

1,243

10.0%

8,884

23.9%

8,555

21.8% 15,567

8.0%

2001

32,907

11.7

1,275

10.2

8,136

22.7

7,997

21.4

15,271

7.8

2000

31,581

11.3

1,258

9.9

7,982

22.5

7,747

21.5

14,366

7.4

1999

32,791

11.9

1,285

10.7

8,441

23.6

7,876

22.7

14,735

7.7

1998

34,476

12.7

1,360

12.5

9,091

26.1

8,070

25.6

15,799

8.2

1997

35,574

13.3

1,468

14.0

9,116

26.5

8,308

27.1

16,491

8.6

1996

36,529

13.7

1,454

14.5

9,694

28.4

8,697

29.4

16,462

8.6

1995

36,425

13.8

1,411

14.6

9,872

29.3

8,574

30.3

16,267

8.5

1994

38,059

14.5

974

14.6

10,196

30.6

8,416

30.7

18,110

9.4

1993

39,265

15.1

1,134

15.3

10,877

33.1

8,126

30.6

18,882

9.9

1992

38,014

14.8

985

12.7

10,827

33.4

7,592

29.6

18,202

9.6

1991

35,708

14.2

996

13.8

10,242

32.7

6,339

28.7

17,741

9.4

1990

33,585

13.5

858

12.2

9,837

31.9

6,006

28.1

16,622

8.8

1989

31,528

12.8

939

14.1

9,302

30.7

5,430

26.2

15,599

8.3

1988

31,745

13.0

1,117

17.3

9,356

31.3

5,357

26.7

15,565

8.4

1987

32,221

13.4

1,021

16.1

9,520

32.4

5,422

28.0

16,029

8.7

1986

32,370

13.6

–

–

8,983

31.1

5,117

27.3

17,244

9.4

1985

33,064

14.0

–

–

8,926

31.3

5,236

29.0

17,839

9.7

1984

33,700

14.4

–

–

9,490

33.8

4,806

28.4

18,300

10.0

1983

35,303

15.2

–

–

9,882

35.7

4,633

28.0

19,538

10.8

1982

34,398

15.0

–

–

9,697

35.6

4,301

29.9

19,362

10.6

1981

31,822

14.0

–

–

9,173

34.2

3,713

26.5

17,987

9.9

1980

29,272

13.0

–

–

8,579

32.5

3,491

25.7

16,365

9.1

Note: Numbers will not add to total because Hispanics may be of any race and not all races are shown. 2002 data are for the race alone or in combination population, which includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. The 2002 figures are not strictly comparable with those for earlier years, which did not allow respondents to identify themselves as being of more than one race. Hispanics may be of any race. Non-Hispanic whites are those who identified themselves as being white alone and not Hispanic. (–) means data are not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

AMERICAN INCOMES: Demographics of Who Has Money 319

Poverty Has Grown in the West The South has seen poverty rates fall over the past two decades. Until the early 1980s, fewer poor Americans lived in the West than in any other region. Today, the West is second only to the South in the number of poor. Nearly one in four poor Americans lives in the West, up from 17 percent in 1980. Because the South is the most populous region, the 41 percent plurality of poor Americans live there, a figure that has changed little over the past two decades. At 13.8 percent in 2002, the poverty rate in the South is higher than in the other regions. But the South’s poverty rate in 2002 was well below its rate during much of the 1980s and 1990s. In every region, in fact, poverty was lower in 2002 than during most of the 1980s and 1990s. It was higher than the lows achieved in 2000, however. ■ Behind the growing number of poor in the West is the migration into the region of millions of poorly educated and unskilled Hispanics.

Nearly one in four poor Americans lives in the West (percent distribution of poor by region, 1980 and 2002

42%

41%

40%

23% 20%

18%

17%

23% 19%

17%

1980 2002

0%

Northeast

320 AMERICAN INCOMES: Demographics of Who Has Money

Midwest

South

West

POVERTY

Table 6.15

Distribution of People below Poverty Level by Region, 1980 to 2002

(number of people below poverty level and percent distribution by region, 1980 to 2002; people in thousands as of the following year) total people in poverty number

South

West

2002 2001 2000

34,570 32,907 31,581

100.0% 100.0 100.0

percent

Northeast

17.0% 17.3 17.3

Midwest

19.1% 18.1 18.7

40.6% 41.1 40.2

23.3% 23.5 23.7

1999 1998 1997 1996 1995 1994

32,791 34,476 35,574 36,529 36,425 38,059

100.0 100.0 100.0 100.0 100.0 100.0

17.7 18.4 18.2 18.0 17.7 17.3

19.1 18.9 18.3 18.2 18.6 20.9

38.9 37.7 38.6 38.6 39.7 38.7

24.3 25.0 24.9 25.2 24.0 23.0

1993 1992 1991 1990 1989 1988

39,265 38,014 35,708 33,585 31,528 31,745

100.0 100.0 100.0 100.0 100.0 100.0

17.4 16.9 17.3 17.3 16.1 16.0

20.8 21.2 22.4 22.2 22.3 21.4

39.2 40.0 38.6 40.1 41.1 42.6

22.6 21.9 21.7 20.5 20.6 19.9

1987 1986 1985 1984 1983 1982

32,221 32,370 33,064 33,700 35,303 34,398

100.0 100.0 100.0 100.0 100.0 100.0

17.0 16.1 17.4 19.4 18.6 18.5

23.3 23.6 24.8 24.6 24.2 22.6

41.2 40.5 39.1 38.0 38.2 40.6

19.5 19.8 18.8 18.0 18.9 18.3

1981 1980

31,822 29,272

100.0 100.0

18.3 18.3

22.4 22.5

41.7 42.2

17.6 16.9

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 321

Table 6.16

Number and Percent of People below Poverty Level by Region, 1980 to 2002

(number and percent of people below poverty level by region, 1980 to 2002; people in thousands as of the following year) total people in poverty number

percent

Northeast number

percent

Midwest number

South

percent

2002

34,570

12.1%

5,871

10.9%

6,616

2001

32,907

11.7

5,687

10.7

5,966

9.4

2000

31,581

11.3

5,474

10.3

5,916

1999

32,791

11.9

5,814

11.0

1998

34,476

12.7

6,357

1997

35,574

13.3

6,474

1996

36,529

13.7

1995

36,425

1994 1993

number

10.3% 14,019

West percent

number

percent

13.8%

8,064

12.4%

13,515

13.5

7,739

12.1

9.3

12,705

12.8

7,485

11.8

6,250

9.8

12,744

13.2

7,982

12.7

12.3

6,501

10.3

12,992

13.7

8,625

14.0

12.6

6,493

10.4

13,748

14.6

8,858

14.6

6,558

12.7

6,654

10.7

14,098

15.1

9,219

15.4

13.8

6,445

12.5

6,785

11.0

14,458

15.7

8,736

14.9

38,059

14.5

6,597

12.9

7,965

13.0

14,729

16.1

8,768

15.3

39,265

15.1

6,839

13.3

8,172

13.4

15,375

17.1

8,879

15.6

1992

38,014

14.8

6,414

12.6

8,060

13.3

15,198

17.1

8,343

14.8

1991

35,708

14.2

6,177

12.2

7,989

13.2

13,783

16.0

7,759

14.3

1990

33,585

13.5

5,794

11.4

7,458

12.4

13,456

15.8

6,877

13.0

1989

31,528

12.8

5,061

10.0

7,043

11.9

12,943

15.4

6,481

12.5

1988

31,745

13.0

5,089

10.1

6,804

11.4

13,530

16.1

6,322

12.7

1987

32,221

13.4

5,476

11.0

7,499

12.7

13,287

16.1

6,285

12.6

1986

32,370

13.6

5,211

10.5

7,641

13.0

13,106

16.1

6,412

13.2

1985

33,064

14.0

5,751

11.6

8,191

13.9

12,921

16.0

6,201

13.0

1984

33,700

14.4

6,531

13.2

8,303

14.1

12,792

16.2

6,074

13.1

1983

35,303

15.2

6,561

13.4

8,536

14.6

13,484

17.2

6,684

14.7

1982

34,398

15.0

6,364

13.0

7,772

13.3

13,967

18.1

6,296

14.1

1981

31,822

14.0

5,815

11.9

7,142

12.3

13,256

17.4

5,609

12.7

1980

29,272

13.0

5,369

11.1

6,592

11.4

12,363

16.5

4,958

11.4

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

322 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Poverty Has Increased in Most States Since 2000 But rates are lower than in 1980 or 1990. Between 1980 and 2002, the poverty rate fell in thirty-five states. The steepest decline was in South Dakota, where the rate was down more than 7 percentage points, falling from 19 to 12 percent during those years. In Mississippi, the poverty rate fell nearly 6 percentage points. In contrast, sixteen states—including California—saw their poverty rate rise between 1980 and 2002. Between 2000 and 2002, the poverty rate rose in all but eight states because of the 2001 recession and job losses. During those years, the rate fell only in Georgia, Idaho, Montana, Ohio, Oklahoma, Vermont, Wisconsin, and Wyoming. In 2002, the poverty rate was lowest in New Hampshire at 5.8 percent. It was highest in Arkansas at 19.8 percent. ■ The 2001 recession boosted poverty in most states, but rates remain below their 1980 and 1990 levels.

In 2002, Arkansas had the highest poverty rate and New Hampshire the lowest (poverty rate in Arkansas and New Hampshire, 1980 to 2002)

21.5% 19.8%

19.6%

20%

16.5%

10%

7.0%

6.3% 4.5%

5.8% Arkansas New Hampshire

0%

1980

1990

2000

2002

AMERICAN INCOMES: Demographics of Who Has Money 323

Table 6.17

Poverty Rates by State, 1980 to 2002

(percent of people below poverty level by state, selected years, 1980 to 2002; percentage point change for selected years) percentage point change 2002

1990–02

1980–02

United States Alabama Alaska

12.1% 14.5 8.8

11.3% 13.3 7.6

13.5% 19.2 11.4

13.0% 21.2 9.6

0.8 1.2 1.2

–1.4 –4.7 –2.6

–0.9 –6.7 –0.8

Arizona Arkansas California Colorado Connecticut Delaware

13.5 19.8 13.1 9.8 8.3 9.1

11.7 16.5 12.7 9.8 7.7 8.4

13.7 19.6 13.9 13.7 6.0 6.9

12.8 21.5 11.0 8.6 8.3 11.8

1.8 3.3 0.4 0.0 0.6 0.7

–0.2 0.2 –0.8 –3.9 2.3 2.2

0.7 –1.7 2.1 1.2 0.0 –2.7

D.C. Florida Georgia Hawaii Idaho Illinois

17.0 12.6 11.2 11.3 11.3 12.8

15.2 11.0 12.1 8.9 12.5 10.7

21.1 14.4 15.8 11.0 14.9 13.7

20.9 16.7 13.9 8.5 14.7 12.3

1.8 1.6 –0.9 2.4 –1.2 2.1

–4.1 –1.8 –4.6 0.3 –3.6 –0.9

–3.9 –4.1 –2.7 2.8 –3.4 0.5

Indiana Iowa Kansas Kentucky Louisiana Maine

9.1 9.2 10.1 14.2 17.5 13.4

8.5 8.3 8.0 12.6 17.2 10.1

13.0 10.4 10.3 17.3 23.6 13.1

11.8 10.8 9.4 19.3 20.3 14.6

0.6 0.9 2.1 1.6 0.3 3.3

–3.9 –1.2 –0.2 –3.1 –6.1 0.3

–2.7 –1.6 0.7 –5.1 –2.8 –1.2

Maryland Massachusetts Michigan Minnesota Mississippi Missouri

7.4 10.0 11.6 6.5 18.4 9.9

7.4 9.8 9.9 5.7 14.9 9.2

9.9 10.7 14.3 12.0 25.7 13.4

9.5 9.5 12.9 8.7 24.3 13.0

0.0 0.2 1.7 0.8 3.5 0.7

–2.5 –0.7 –2.7 –5.5 –7.3 –3.5

–2.1 0.5 –1.3 –2.2 –5.9 –3.1

Montana 13.5 Nebraska 10.6 Nevada 8.9 New Hampshire 5.8 New Jersey 7.9 New Mexico 17.9

14.1 8.6 8.8 4.5 7.3 17.5

16.3 10.3 9.8 6.3 9.2 20.9

13.2 13.0 8.3 7.0 9.0 20.6

–0.6 2.0 0.1 1.3 0.6 0.4

–2.8 0.3 –0.9 –0.5 –1.3 –3.0

0.3 –2.4 0.6 –1.2 –1.1 –2.7

New York North Carolina North Dakota Ohio Oklahoma Oregon

14.0 14.3 11.6 9.8 14.1 10.9

13.9 12.5 10.4 10.0 14.9 10.9

14.3 13.0 13.7 11.5 15.6 9.2

13.8 15.0 15.5 9.8 13.9 11.5

0.1 1.8 1.2 –0.2 –0.8 0.0

–0.3 1.3 –2.1 –1.7 –1.5 1.7

0.2 –0.7 –3.9 0.0 0.2 –0.6

9.5

8.6

11.0

9.8

0.9

–1.5

–0.3

Pennsylvania

2000

1990

1980

2000–02

(continued)

324 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

percentage point change 2002

2000

1990

1980

Rhode Island South Carolina South Dakota Tennessee Texas Utah

11.0% 14.3 11.5 14.8 15.6 9.9

10.2% 11.1 10.7 13.5 15.5 7.6

7.5% 16.2 13.3 16.9 15.9 8.2

10.7% 16.8 18.8 19.6 15.7 10.0

Vermont Virginia Washington West Virginia Wisconsin Wyoming

9.9 9.9 11.0 16.8 8.6 9.0

10.0 8.3 10.8 14.7 9.3 10.8

10.9 11.1 8.9 18.1 9.3 11.0

12.0 12.4 12.7 15.2 8.5 10.4

2000–02

1990–02

1980–02

0.8 3.2 0.8 1.3 0.1 2.3

3.5 –1.9 –1.8 –2.1 –0.3 1.7

0.3 –2.5 –7.3 –4.8 –0.1 –0.1

–0.1 1.6 0.2 2.1 –0.7 –1.8

–1.0 –1.2 2.1 –1.3 –0.7 –2.0

–2.1 –2.5 –1.7 1.6 0.1 –1.4

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 325

A Growing Share of the Poor Live in Metropolitan Areas The share of poor Americans living in nonmetropolitan areas has declined. As more Americans move to the suburbs of metropolitan areas, the poverty population is increasingly suburban. In 1980, only 25 percent of the poor lived in the suburbs, while 36 percent lived in the nation’s central cities, and 38 percent resided in nonmetropolitan areas. By 2002, the central cities were home to 40 percent of the poor, the suburbs to almost as many at 39 percent, and nonmetropolitan areas to only 22 percent. Between 1980 and 2002, poverty rates by metropolitan status have changed little— although they were lower in 2002 than they were during the 1980s and much of the 1990s. The poverty rate in central cities and nonmetropolitan areas typically is well above average, while the poverty rate in the suburbs is below average. In central cities, the poverty rate stood at 16.7 percent in 2002. In nonmetropolitan areas the rate was above average as well, at 14.2 percent. In the suburbs, the 8.9 percent poverty rate of 2002 was below the national average of 12.1 percent. ■ The largest share of the poor once lived in rural areas. Today, they live in central cities and suburbs. This change affects not only the needs of the poor, but also how services are delivered to them.

The suburbs of metropolitan areas are home to a growing share of poor Americans (percent of poor people who live in the suburbs, 1980 to 2002)

38.5% 35.9% 30.5% 30%

25.2% 20%

10%

0%

1980

326 AMERICAN INCOMES: Demographics of Who Has Money

1990

2000

2002

POVERTY

Table 6.18

Distribution of People below Poverty Level by Metropolitan Residence, 1980 to 2002

(number of people below poverty level and percent distribution by metropolitan residence, 1980 to 2002; people in thousands as of the following year) total people in poverty number

metropolitan areas

percent

total

central cities

suburbs

nonmetropolitan areas

2002 2001 2000

34,570 32,907 31,581

100.0% 100.0 100.0

78.4% 77.3 77.9

39.9% 40.7 42.0

38.5% 36.6 35.9

21.6% 22.7 22.1

1999 1998 1997 1996 1995 1994

32,791 34,476 35,574 36,529 36,425 38,059

100.0 100.0 100.0 100.0 100.0 100.0

77.1 78.3 76.7 77.2 77.8 77.8

40.9 43.3 42.2 42.8 44.7 42.3

36.2 35.0 34.4 34.4 33.1 35.5

22.9 21.7 23.3 22.8 22.2 22.2

1993 1992 1991 1990 1989 1988

39,265 38,014 35,708 33,585 31,528 31,745

100.0 100.0 100.0 100.0 100.0 100.0

75.4 74.7 75.1 73.0 72.7 72.6

42.8 43.0 42.9 42.4 43.1 42.9

32.6 31.7 32.2 30.5 29.6 29.7

24.6 25.3 24.9 27.0 27.3 27.4

1987 1986 1985 1984 1983 1982

32,221 32,370 33,064 33,700 35,303 34,398

100.0 100.0 100.0 100.0 100.0 100.0

71.5 70.0 70.4 – 61.6 61.8

42.5 41.1 42.9 – 36.5 36.9

29.0 28.9 27.5 – 25.1 24.9

28.5 30.0 29.6 – 38.3 38.2

1981 1980

31,822 29,272

100.0 100.0

60.8 61.6

35.3 36.4

25.5 25.2

39.2 38.4

Note: (–) means data not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 327

Table 6.19

Number and Percent of People below Poverty Level by Metropolitan Residence, 1980 to 2002

(number and percent of people below poverty level by metropolitan residence, 1980 to 2002; people in thousands as of the following year) metropolitan areas total people in poverty number

percent

total number

central cities percent

number

suburbs

percent

number

nonmetropolitan areas

percent

number

percent

2002

34,570

12.1% 27,096

11.6% 13,784

16.7% 13,311

8.9%

7,474

2001

32,907

11.7

25,446

11.1

13,394

16.5

12,052

8.2

7,460

14.2% 14.2

2000

31,581

11.3

24,603

10.8

13,257

16.3

11,346

7.8

6,978

13.4

1999

32,791

11.9

25,278

11.3

13,404

16.5

11,874

8.3

7,513

14.3

1998

34,476

12.7

26,997

12.3

14,921

18.5

12,076

8.7

7,479

14.4

1997

35,574

13.3

27,273

12.6

15,018

18.8

12,255

9.0

8,301

15.9

1996

36,529

13.7

28,211

13.2

15,645

19.6

12,566

9.4

8,318

15.9

1995

36,425

13.8

28,342

13.4

16,269

20.6

12,072

9.1

8,083

15.6

1994

38,059

14.5

29,610

14.2

16,098

20.9

13,511

10.3

8,449

16.0

1993

39,265

15.1

29,615

14.6

16,805

21.5

12,810

10.3

9,650

17.2

1992

38,014

14.8

28,380

14.2

16,346

20.9

12,034

9.9

9,634

16.9

1991

35,708

14.2

26,827

13.7

15,314

20.2

11,513

9.6

8,881

16.1

1990

33,585

13.5

24,510

12.7

14,254

19.0

10,255

8.7

9,075

16.3

1989

31,528

12.8

22,917

12.0

13,592

18.1

9,326

8.0

8,611

15.7

1988

31,745

13.0

23,059

12.2

13,615

18.1

9,444

8.3

8,686

16.0

1987

32,221

13.4

23,054

12.3

13,697

18.3

9,357

8.3

9,167

17.0

1986

32,370

13.6

22,657

12.3

13,295

18.0

9,362

8.4

9,712

18.1

1985

33,064

14.0

23,275

12.7

14,177

19.0

9,097

8.4

9,789

18.3

1984

33,700

14.4

–

–

–

–

–

–

–

–

1983

35,303

15.2

21,750

13.8

12,872

19.8

8,878

9.6

13,516

18.3

1982

34,398

15.0

21,247

13.7

12,696

19.9

8,551

9.3

13,152

17.8

1981

31,822

14.0

19,347

12.6

11,231

18.0

8,116

8.9

12,475

17.0

1980

29,272

13.0

18,021

11.9

10,644

17.2

7,377

8.2

11,251

15.4

Note: (–) means data not available. Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html

328 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Many of the Poor Have Jobs More than 2 million poor people work full-time, year-round. Many people live in poverty despite having jobs. In 2002, 38 percent of poor people aged 16 or older had jobs. This figure was slightly below the 40 to 42 percent of the poor who had jobs during the 1980s and 1990s. The number of poor with jobs climbed from 7.6 million in 1980 to a peak of more than 10 million in 1993. The figure stood at a slightly smaller 9 million in 2002. A substantial share of the poor have full-time jobs—yet their incomes remain below the poverty level. In 2002, 11 percent of poor people worked year-round, full-time—up from 9 percent in 1980. The number of poor who work year-round, full-time climbed from 1.6 million in 1980 to a peak of 2.8 million in 1998 before dropping to 2.6 million in 2002. ■ Falling wages for uneducated, low-skilled workers have boosted the number of working poor.

The number of working poor has grown (number of poor people who work full-time, year-round, 1980 to 2002; numbers in millions)

2.6 2.4 2.1 2 million

1.6

1 million

0

1980

1990

2000

2002

AMERICAN INCOMES: Demographics of Who Has Money 329

Table 6.20

People below Poverty Level by Work Status, 1980 to 2002

(number of people aged 16 or older below poverty level by work status, and percent of poor who work, 1980 to 2002; people in thousands as of the following year) worked

worked full-time, year-round

total poor aged 16 or older

number

2002 2001 2000

23,601 22,245 21,080

8,954 8,530 8,511

37.9% 38.3 40.4

2,635 2,567 2,439

11.2% 11.5 11.6

1999 1998 1997 1996 1995 1994

21,762 22,256 22,753 23,472 23,077 24,108

9,251 9,133 9,444 9,586 9,484 9,829

42.5 41.0 41.5 40.8 41.1 40.8

2,559 2,804 2,345 2,263 2,418 2,520

11.8 12.6 10.3 9.6 10.5 10.5

1993 1992 1991 1990 1989 1988

24,832 23,951 22,530 21,242 19,952 20,323

10,144 9,739 9,208 8,716 8,376 8,363

40.8 40.6 40.9 41.0 42.0 41.2

2,408 2,211 2,103 2,076 1,908 1,929

9.7 9.2 9.3 9.8 9.6 9.5

1987 1986 1985 1984 1983 1982

20,546 20,688 21,243 21,541 22,741 22,100

8,258 8,743 9,008 8,999 9,329 9,013

40.2 42.3 42.4 41.8 41.0 40.8

1,821 2,007 1,972 2,076 2,064 1,999

8.9 9.7 9.3 9.6 9.1 9.0

1981 1980

20,571 18,892

8,524 7,674

41.4 40.6

1,881 1,644

9.1 8.7

percent of poor

number

percent of poor

Source: Bureau of the Census, Current Population Survey Annual Demographic Supplements, Internet site http://www.census.gov/ hhes/income/histinc/histpovtb.html; calculations by New Strategist

330 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Poverty, 2002

AMERICAN INCOMES: Demographics of Who Has Money 331

Few Households with Two Earners Are Poor Single-earner households are much more vulnerable to poverty, especially those headed by blacks or Hispanics. Today, it takes two incomes to achieve a middle-class lifestyle. Only 2.4 percent of families with two or more workers have incomes that place them below the poverty level, with the proportion ranging from just 1.4 percent of non-Hispanic white families to 6.5 percent of Hispanic families. But among families with only one worker, 15.1 percent are poor. The poverty rate for these families ranges from 9.7 percent among non-Hispanic whites to 28.5 percent among Hispanics. Among married couples in which both husband and wife work full-time, poverty is practically nonexistent, ranging from just 0.4 percent of non-Hispanic whites to 1.4 percent of Hispanics. But for married couples in which only the husband works, the poverty rate climbs to 23.5 percent among Hispanics. The poverty rate is higher for female-headed families because the 54 percent majority have only one worker and another 39 percent have no workers. Twenty-five percent of female-headed families with one worker are poor. If the worker has a full-time job, the poverty rate falls to 9.9 percent. ■ Non-Hispanic white families are less likely to be poor than black or Hispanic families largely because non-Hispanic white households have more workers.

Poverty is less likely for families with two or more workers (percent of families below poverty level by number of workers, 2002)

25.8%

20%

15.1%

10%

2.4% 0.6% 0%

no workers

332 AMERICAN INCOMES: Demographics of Who Has Money

one worker

two or more workers

two or more full-time workers

POVERTY

Table 6.21

Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002

(number and percent of families below poverty level by work status, race, and Hispanic origin, 2002; numbers in thousands)

Number of families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more Percent of families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more

total

Asian

black

Hispanic

non-Hispanic white

7,229 2,684 4,545 3,559 986

218 97 122 78 43

1,958 782 1,176 989 187

1,792 511 1,281 971 310

3,208 1,288 1,920 1,482 438

1,900 1,766 134

61 57 4

443 425 18

687 632 55

699 639 60

21.4% 57.9 15.1 26.1 4.7

19.7% 55.8 15.7 28.5 6.5

6.0% 16.5 4.2 9.7 1.4

7.3 11.0 0.8

10.1 15.0 2.1

9.6% 25.8 7.0 15.1 2.4

7.4% 39.5 4.5 8.1 2.5

3.5 5.3 0.6

2.6 4.1 0.4

1.8 2.7 0.4

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 333

Table 6.22

Married Couples below Poverty Level by Work Status, Race, and Hispanic Origin, 2002

(number and percent of married couples below poverty level by work status, race, and Hispanic origin, 2002; numbers in thousands) total

Asian

black

Hispanic

non-Hispanic white

Number of married couples in poverty 3,052 With no workers 1,076 With one or more workers 1,976 Both husband and wife work 570 Husband works, wife does not work 1,057 Wife works, husband does not work 282 With one or more full-time, year-round workers 1,085 Both husband and wife work full-time, year-round 92 Husband works full-time, year round, wife does not 837 Wife works full-time, year-round, husband does not 133

137 57 81 25 47 6 47 4 36 5

340 122 218 70 96 39 124 12 74 35

927 187 739 172 479 70 452 22 375 40

1,628 698 930 300 430 169 461 52 351 55

Percent of married couples in poverty 5.3% With no workers 13.8 With one or more workers 4.0 Both husband and wife work 1.7 Husband works, wife does not work 8.9 Wife works, husband does not work 8.4 With one or more full-time, year-round workers 2.5 Both husband and wife work full-time, year-round 0.5 Husband works full-time, year round, wife does not 4.2 Wife works full-time, year-round, husband does not 2.7

5.9% 31.0 3.7 1.9 7.0 4.8 2.4 0.5 4.0 2.5

8.0% 24.6 5.8 2.7 14.3 9.3 3.8 0.8 7.1 5.9

15.0% 36.3 13.0 5.3 23.5 25.4 9.2 1.4 14.2 8.9

3.7% 10.7 2.5 1.1 5.1 6.7 1.4 0.4 2.3 1.5

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

334 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.23

Female-Headed Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002

(number and percent of female-headed families below poverty level by work status, race, and Hispanic origin, 2002; numbers in thousands)

Number of female-headed families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more Percent of female-headed families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more

total

Asian

black

Hispanic

non-Hispanic white

3,613 1,425 2,188 1,959 229

51 31 20 20 –

1,454 594 859 768 92

717 287 431 385 46

1,374 524 849 760 89

662 651 11

4 4 –

284 281 4

182 177 5

187 184 4

35.7% 79.6 25.8 31.6 10.2

35.3% 83.3 25.5 34.8 7.9

19.4% 51.7 14.0 18.7 4.4

12.5 14.4 1.1

14.8 18.4 1.8

26.5% 65.8 19.1 25.0 6.3

14.3% – 6.4 11.7 –

8.3 9.9 0.8

1.8 2.5 –

4.5 5.3 0.5

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 335

Table 6.24

Male-Headed Families below Poverty Level by Work Status, Race, and Hispanic Origin, 2002

(number and percent of male-headed families below poverty level by work status, race, and Hispanic origin, 2002; numbers in thousands)

Number of male-headed families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more Percent of male-headed families in poverty With no workers With one or more workers One Two or more With one or more full-time, year-round workers One Two or more

total

Asian

black

Hispanic

non-Hispanic white

564 183 381 313 68

30 9 22 14 7

165 65 99 83 16

148 37 111 86 25

207 66 141 122 19

153 147 6

9 9 –

35 35 –

54 50 3

50 47 3

12.1% 40.3 9.0 13.2 3.7

12.6% – 9.7 17.3 5.2

20.8% 61.4 14.5 20.5 5.7

17.0% – 13.6 20.8 6.3

7.7% 25.0 5.8 8.6 1.9

4.5 5.8 0.7

4.6 7.8 –

6.6 9.3 –

7.9 11.4 1.4

2.6 3.1 0.7

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

336 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Poverty Rate Is Highest for Central City Families Poverty is lowest for families in the suburbs. The percentage of families living in poverty is higher in the nation’s central cities than in suburbs or nonmetropolitan areas. It is higher in the South than in other regions. It is higher for black and Hispanic families than for non-Hispanic white families. It is higher for families with children than for those without children. Among families with children, blacks in nonmetropolitan areas of the South and Hispanics in the central cities of the Northeast have the highest poverty rates in the nation (37.4 and 33.6 percent, respectively). The poverty rate is lowest for non-Hispanic white families in the suburbs of the Northeast, only 5.1 percent of whom were poor in 2002. ■ Although the poverty rates of black and Hispanic families are similar, the reasons for their poverty differ. Black families are poor because the plurality are headed by women. Hispanic families are poor because many are headed by recent immigrants with little education or earning power.

Many families in nonmetropolitan areas are poor (percent of families with children below poverty level by metropolitan residence, 2002)

19.8% 16.7% 15%

9.8%

10%

5%

0%

central cities

suburbs

nonmetropolitan areas

AMERICAN INCOMES: Demographics of Who Has Money 337

Table 6.25

Families below Poverty Level by Region, Metropolitan Status, Race, and Hispanic Origin, 2002

(number and percent of families below poverty level by region, metropolitan status, race, and Hispanic origin, 2002; numbers in thousands) total number

Asian percent

number

black percent

number

Hispanic percent

number

non-Hispanic white percent

number

percent

Total families in poverty

7,229

9.6%

218

7.4%

1,958

21.4%

1,792

19.7%

3,208

6.0%

Metropolitan

5,593

9.2

213

7.5

1,642

20.5

1,600

19.3

2,154

5.2

Central city

2,728

13.4

101

8.5

1,102

23.7

956

23.1

612

5.9

Suburbs

2,865

7.1

112

6.8

540

16.0

645

15.4

1,542

5.0

Nonmetro

1,635

11.1

6

5.5

316

28.6

192

24.4

1,054

8.4

Northeast

1,156

8.1

33

5.6

340

20.5

317

23.3

527

4.9

Metropolitan

1,031

8.2

33

5.7

332

20.3

312

23.1

413

4.5

Central city

617

15.4

20

6.9

260

23.0

232

26.1

156

8.4

Suburbs

415

4.8

13

4.5

72

14.1

80

17.3

257

3.5

Nonmetro

125

8.0

–

–

8

–

5

–

115

7.5 5.4

Midwest

1,317

7.7

27

8.2

366

22.9

133

17.4

772

Metropolitan

962

7.6

27

8.7

342

22.6

111

16.2

478

4.7

Central city

520

12.9

14

14.1

282

26.4

77

20.5

143

5.8

Suburbs

442

5.1

13

6.2

60

13.6

34

11.1

334

4.4

Nonmetro

355

7.9

–

–

24

27.5

22

26.7

294

7.0

South

3,165

11.4

55

8.8

1,137

22.4

639

19.9

1,297

7.0

Metropolitan

2,248

10.6

53

8.9

858

21.0

538

19.2

788

5.8

Central city

994

14.6

31

17.2

498

24.4

300

22.4

167

5.2

Suburbs

1,253

8.7

22

5.3

360

17.6

238

16.2

621

6.0

Nonmetro

918

14.0

2

–

279

28.5

101

24.7

509

10.1

West

1,591

9.6

103

7.4

116

14.3

703

18.8

612

6.0

Metropolitan

1,353

9.4

100

7.4

111

14.0

639

18.5

475

5.6

Central city

598

11.0

36

5.9

62

15.2

346

22.7

146

5.2

Suburbs

755

8.5

63

8.8

48

12.7

293

15.1

329

5.8

Nonmetro

238

10.9

4

–

5

–

64

22.5

137

8.1

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

338 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.26

Families with Children below Poverty Level by Region, Metropolitan Status, Race, and Hispanic Origin, 2002

(number and percent of families with related children under age 18 at home below poverty level by region, metropolitan status, race, and Hispanic origin, 2002; numbers in thousands) total number

Total families with children in poverty 5,397 Metropolitan 4,225

Asian percent

13.9% 13.3

number

151 147

black percent

9.2% 9.4

number

1,597 1,344

Hispanic percent

number

27.2% 25.8

1,527 1,370

non-Hispanic white percent

24.1% 23.7

number

2,088 1,386

percent

8.5% 7.2

Central city

2,175

19.8

78

12.3

903

30.4

821

28.1

413

Suburbs

2,050

9.8

69

7.4

442

19.7

549

19.2

973

9.2 6.7

Nonmetro

1,173

16.7

4

–

253

38.0

157

28.2

703

12.7

Northeast

887

12.5

27

7.9

279

26.2

280

29.3

359

7.4

Metropolitan

792

12.4

27

8.0

273

26.0

276

29.2

272

6.5

Central city

490

23.0

17

10.1

216

29.6

209

33.6

98

13.6

Suburbs

301

7.1

11

6.0

56

17.7

67

20.7

174

5.1

Nonmetro

95

13.1

–

–

6

–

4

–

87

12.5

Midwest

977

11.2

24

12.1

294

28.5

114

20.6

530

7.7

Metropolitan

720

10.9

24

13.2

270

27.6

96

19.6

327

6.6

Central city

401

18.6

12

–

220

32.3

68

25.0

98

8.7

Suburbs

319

7.1

12

9.6

50

16.9

28

12.9

229

6.0

Nonmetro

257

12.2

–

–

24

–

18

–

203

10.5

South

2,308

16.4

33

9.0

925

28.4

520

24.6

798

9.8

Metropolitan

1,662

15.2

31

9.1

705

26.4

439

24.0

477

7.9

Central city

785

21.4

23

22.5

414

31.6

245

27.1

103

7.6

Suburbs

877

12.1

9

3.5

291

21.4

195

21.0

374

8.0

Nonmetro

646

20.7

1

–

220

37.4

81

28.7

321

14.8

West

1,225

13.7

67

9.2

100

18.9

613

22.6

402

8.4

Metropolitan

1,051

13.3

64

9.2

96

18.7

558

22.3

310

7.7

Central city

499

16.6

26

8.5

52

21.2

300

26.6

114

8.7

Suburbs

552

11.3

38

9.7

44

16.4

259

18.7

196

7.2

Nonmetro

174

16.2

3

–

4

–

55

26.5

92

12.2

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 339

Nearly One in Four Americans Lives in a Household Receiving Poverty Assistance Children are most likely to live in households participating in antipoverty programs. Among all Americans, 25 percent live in households that receive means-tested assistance. These households have incomes so low that they qualify for food stamps, Medicaid benefits (government-subsidized health care for the poor), or government-subsidized housing. Six percent of people live in households receiving means-tested cash assistance, 7 percent in households receiving food stamps, 19 percent in households that include someone covered by Medicaid, and 4 percent live in subsidized housing. The proportion of people living in households that receive means-tested assistance varies by age, sex, and race. Fully 38 percent of children under age 18 live in households receiving means-tested assistance. The proportion bottoms out at 15 percent among people aged 55 to 59. Women are more likely than men to live in households receiving assistance, particularly in the 18-to-34 age group. Among Hispanics, 49 percent live in households receiving means-tested assistance, as do 47 percent of blacks, 24 percent of Asians, and 16 percent of non-Hispanic whites. ■ Children are most likely to live in households participating in antipoverty programs because many are being raised by single mothers—the poorest household type.

Medicaid is the antipoverty program with the greatest number of participants (percent of people living in households participating in antipoverty programs, by type of program, 2002)

19%

15%

10%

7%

6% 4%

5%

0%

Medicaid

340 AMERICAN INCOMES: Demographics of Who Has Money

food stamps

means-tested cash assistance

subsidized housing

POVERTY

Table 6.27

People in Households Participating in Antipoverty Programs, 2002: Total People

(total number of people and percent in households participating in antipoverty programs, by sex and age, 2002; numbers in thousands)

total

percent in households receiving means-tested assistance

percent in households receiving means-tested cash assistance

percent in households receiving food stamps

percent in households with one or more persons covered by Medicaid

percent living in public or subsidized housing

Total people Under 18 18 to 24 25 to 34 35 to 44 45 to 54 55 to 59 60 to 64 65 or older 65 to 74 75 or older

285,317 72,696 27,438 39,243 44,074 40,234 15,470 11,930 34,234 18,111 16,123

25.1% 37.6 26.2 26.4 22.5 16.4 15.0 15.7 17.5 17.5 17.4

6.1% 7.4 6.2 5.2 5.1 5.5 6.1 6.5 6.1 6.2 6.0

6.7% 11.6 7.4 6.9 5.0 3.7 3.5 3.3 3.4 3.7 3.1

18.6% 27.2 20.6 19.7 15.9 12.4 11.7 12.8 13.1 13.5 12.7

3.9% 5.6 4.8 3.6 2.8 2.3 2.5 2.6 4.4 3.8 5.1

Total females Under 18 18 to 24 25 to 34 35 to 44 45 to 54 55 to 59 60 to 64 65 or older 65 to 74 75 or older

145,759 35,569 13,604 19,679 22,341 20,627 7,977 6,257 19,706 9,836 9,870

26.4 37.5 29.2 30.0 24.5 17.2 15.6 17.7 19.5 19.3 19.6

6.5 7.4 6.9 5.9 5.5 5.9 6.1 7.5 6.9 7.0 6.8

7.5 11.8 9.2 8.9 6.3 4.5 4.1 4.2 4.1 4.5 3.7

19.6 27.3 24.0 22.1 17.2 13.0 12.5 14.7 14.4 14.7 14.0

4.6 5.7 6.0 4.9 3.5 2.9 2.9 3.5 5.5 4.7 6.2

Total males Under 18 18 to 24 25 to 34 35 to 44 45 to 54 55 to 59 60 to 64 65 or older 65 to 74 75 or older

139,558 37,127 13,834 19,564 21,733 19,606 7,493 5,673 14,528 8,275 6,253

23.7 37.6 23.2 22.7 20.5 15.6 14.4 13.5 14.7 15.3 13.9

5.6 7.4 5.5 4.5 4.7 5.0 6.0 5.4 5.0 5.2 4.8

5.8 11.5 5.7 4.9 3.8 2.8 2.9 2.2 2.4 2.6 2.2

17.5 27.1 17.3 17.3 14.6 11.8 10.9 10.7 11.4 12.0 10.6

3.2 5.6 3.6 2.3 2.1 1.7 2.0 1.6 2.9 2.7 3.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 341

Table 6.28

People in Households Participating in Antipoverty Programs, 2002: Asians

(total number of Asians and percent in households participating in antipoverty programs, by sex and age, 2002; numbers in thousands)

total

Total Asians Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

12,487 3,199 1,292 2,308 2,072 1,647 542 431 995 630 365

Asian females Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older Asian males Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

percent in households receiving means-tested assistance

percent in households receiving means-tested cash assistance

percent in households receiving food stamps

percent in households with one or more persons covered by Medicaid

percent living in public or subsidized housing

23.8% 29.6 22.6 17.9 21.3 21.8 19.5 16.2 34.4 31.6 39.1

5.7% 5.5 6.3 2.4 3.3 6.4 6.7 5.0 17.4 13.0 25.0

3.9% 6.1 3.6 2.6 3.2 2.7 4.4 1.9 4.0 4.0 4.1

18.5% 21.9 17.4 14.6 16.0 16.3 15.1 13.2 30.9 26.8 37.9

2.9% 2.4 3.6 2.1 2.2 2.8 3.6 1.2 8.0 6.8 10.0

6,433 1,563 648 1,192 1,062 895 289 232 551 340 211

24.0 29.5 21.0 18.9 21.4 22.4 16.9 17.9 36.4 36.0 37.2

6.1 5.3 5.6 2.8 2.8 7.1 7.9 7.2 18.9 14.9 25.5

3.9 6.3 3.1 2.7 3.5 3.0 2.8 2.6 4.6 4.5 4.9

18.4 21.1 14.5 15.8 15.4 17.1 13.5 15.6 32.8 31.0 35.7

2.9 2.5 2.8 2.1 1.6 3.0 3.2 1.0 8.6 8.8 8.4

6,053 1,636 644 1,116 1,010 752 253 199 444 290 153

23.6 29.6 24.3 16.8 21.3 21.2 22.5 14.3 31.8 26.5 41.7

5.4 5.7 7.1 1.9 3.7 5.6 5.3 2.4 15.5 10.8 24.4

3.8 5.9 4.1 2.5 2.9 2.3 6.2 1.0 3.3 3.4 3.1

18.6 22.7 20.2 13.4 16.5 15.4 17.0 10.4 28.4 21.9 40.9

3.0 2.3 4.4 2.1 2.8 2.6 4.0 1.4 7.1 4.4 12.2

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

342 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.29

People in Households Participating in Antipoverty Programs, 2002: Blacks

(total number of blacks and percent in households participating in antipoverty programs, by sex and age, 2002; numbers in thousands)

total

percent in households receiving means-tested assistance

percent in households receiving means-tested cash assistance

percent in households receiving food stamps

percent in households with one or more persons covered by Medicaid

percent living in public or subsidized housing

Total blacks Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

37,207 12,114 4,065 5,176 5,554 4,681 1,519 1,174 2,922 1,689 1,233

46.5% 62.3 45.2 42.8 39.2 33.8 32.0 31.0 37.5 38.1 36.7

13.5% 16.6 13.0 10.4 11.0 12.5 11.9 12.9 13.9 13.8 14.1

16.8% 26.8 16.1 14.8 11.3 10.1 9.0 7.5 9.2 10.0 8.1

34.2% 45.9 34.6 30.8 27.5 25.3 23.5 24.3 27.9 27.8 28.0

12.7% 17.8 14.3 11.9 8.7 8.0 8.1 8.4 10.5 10.0 11.1

Black females Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

19,917 6,004 2,138 2,848 3,062 2,560 860 661 1,782 972 810

48.9 62.8 49.9 49.5 44.3 35.4 34.3 33.7 40.3 41.3 39.0

14.3 17.2 14.7 11.6 11.2 12.9 13.6 15.1 16.1 16.4 15.8

18.8 27.2 21.0 19.5 14.4 12.3 11.0 8.8 10.8 12.2 9.2

36.5 47.2 40.0 35.8 30.6 26.9 25.0 26.6 30.4 30.5 30.3

14.6 18.6 18.0 15.8 11.2 10.0 9.2 10.5 11.7 11.4 12.2

Black males Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

17,290 6,110 1,927 2,328 2,492 2,121 659 513 1,140 717 423

43.7 61.8 40.1 34.6 33.0 31.8 29.1 27.4 33.2 33.8 32.3

12.5 16.0 11.2 9.0 10.7 12.0 9.7 10.0 10.4 10.2 10.6

14.6 26.5 10.8 8.9 7.6 7.4 6.3 5.8 6.7 7.0 6.2

31.6 44.7 28.6 24.6 23.7 23.3 21.6 21.3 24.0 24.1 23.6

10.6 17.1 10.1 7.0 5.5 5.5 6.6 5.7 8.5 8.2 8.9

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 343

Table 6.30

People in Households Participating in Antipoverty Programs, 2002: Hispanics

(total number of Hispanics and percent in households participating in antipoverty programs, by sex and age, 2002; numbers in thousands)

total

percent in households receiving means-tested assistance

percent in households receiving means-tested cash assistance

percent in households receiving food stamps

percent in households with one or more persons covered by Medicaid

percent living in public or subsidized housing

Total Hispanics Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

39,216 13,210 4,816 7,437 5,927 3,671 1,193 908 2,053 1,223 830

49.2% 62.8 41.7 45.3 45.5 36.2 32.4 33.0 44.0 42.8 45.7

8.7% 9.8 7.1 6.6 6.4 8.6 10.1 12.8 16.7 15.2 18.9

11.5% 16.4 9.9 9.0 8.1 7.5 7.7 7.8 12.9 12.6 13.4

34.6% 43.1 31.3 32.3 29.2 25.4 23.7 28.4 36.6 34.4 39.9

5.6% 7.0 5.8 3.9 4.0 5.0 5.3 5.3 7.5 7.2 8.0

Total females Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

19,106 6,474 2,194 3,439 2,866 1,903 602 482 1,147 666 480

51.7 62.4 46.7 51.9 49.3 37.7 31.7 36.8 46.4 46.2 46.6

9.6 9.7 8.5 7.6 7.4 9.5 10.8 16.1 18.9 16.3 22.4

13.0 16.6 12.2 12.1 9.9 9.5 7.8 10.5 14.0 13.5 14.7

36.7 43.1 37.3 35.8 32.2 26.4 24.8 31.8 39.3 37.3 42.0

6.5 7.2 7.1 5.4 5.7 5.8 5.2 6.6 8.1 8.0 8.1

Total males Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

20,109 6,736 2,622 3,998 3,061 1,768 591 427 906 557 349

46.7 63.1 37.5 39.5 42.0 34.7 33.1 28.6 40.9 38.8 44.3

7.8 9.9 5.9 5.7 5.6 7.7 9.3 9.1 14.0 13.9 14.1

10.0 16.2 7.9 6.4 6.4 5.4 7.7 4.8 11.6 11.6 11.6

32.6 43.1 26.4 29.3 26.4 24.3 22.4 24.5 33.2 30.9 37.0

4.7 6.9 4.6 2.5 2.5 4.2 5.4 3.8 6.9 6.2 7.9

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

344 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.31

People in Households Participating in Antipoverty Programs, 2002: Non-Hispanic Whites

(total number of non-Hispanic whites and percent in households participating in antipoverty programs, by sex and age, 2002; numbers in thousands)

total

Total non-Hispanic whites Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

194,144 43,614 17,042 24,064 30,162 29,871 12,057 9,315 28,018 14,404 13,615

percent in households receiving means-tested assistance

percent in households receiving means-tested cash assistance

percent in households receiving food stamps

percent in households with one or more persons covered by Medicaid

percent living in public or subsidized housing

16.2% 23.7 17.6 17.7 15.0 11.0 10.9 12.0 12.9 12.4 13.3

4.1% 4.2 4.2 3.7 3.8 3.9 4.9 5.0 4.1 4.2 4.0

3.9% 6.3 4.8 4.8 3.4 2.2 2.4 2.4 2.1 2.2 2.0

12.4% 17.7 14.6 13.8 11.2 8.7 8.9 9.8 9.3 9.5 9.0

2.0% 2.2 2.5 1.9 1.5 1.1 1.4 1.7 3.4 2.7 4.2

Non-Hispanic white females Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

99,131 21,253 8,480 12,075 15,173 15,076 6,148 4,822 16,103 7,782 8,320

17.2 23.6 20.1 20.1 16.3 11.2 11.4 13.6 14.7 13.7 15.7

4.3 4.1 4.5 4.1 4.2 4.1 4.5 5.5 4.6 4.7 4.6

4.4 6.4 5.8 5.9 4.1 2.6 2.9 3.1 2.7 2.8 2.5

13.1 17.7 17.2 15.5 11.9 8.8 9.6 11.3 10.3 10.3 10.3

2.5 2.1 3.1 2.5 1.7 1.4 1.8 2.4 4.6 3.5 5.5

Non-Hispanic white males Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

95,013 22,361 8,562 11,989 14,989 14,794 5,909 4,493 11,916 6,621 5,294

15.2 23.9 15.1 15.2 13.8 10.8 10.4 10.4 10.3 10.9 9.6

3.9 4.4 3.9 3.3 3.5 3.7 5.3 4.5 3.4 3.6 3.1

3.3 6.3 3.8 3.8 2.6 1.8 1.8 1.6 1.3 1.4 1.1

11.7 17.8 12.0 12.1 10.4 8.6 8.2 8.2 7.9 8.7 6.9

1.6 2.3 1.9 1.4 1.3 0.8 0.9 0.9 2.0 1.8 2.2

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 345

Non-Hispanic Whites Dominate Elderly Poor Minorities account for the majority of poor under age 55. Among the nation’s 35 million poor in 2002, non-Hispanic whites accounted for a 45 percent minority. Twenty-six percent were black, 25 percent were Hispanic, and 4 percent were Asian. The non-Hispanic white share of the poor rises fairly steadily with age. Among poor children under age 18, only 34 percent are non-Hispanic white. Thirty-one percent of poor children are black and 31 percent are Hispanic. The non-Hispanic white share of the poor becomes the majority in the 55-to-59 age group. Among poor people aged 75 or older, fully 71 percent are non-Hispanic white. ■ As the nation’s minority populations expand, blacks and Hispanics will account for a growing share of the poor.

Non-Hispanic whites account for the majority of poor people aged 65 or older (percent of people below poverty level who are non-Hispanic white, by age, 2002)

65% 49%

50%

34% 25%

0%

under 18

346 AMERICAN INCOMES: Demographics of Who Has Money

18 to 64

65 or older

POVERTY

Table 6.32

People below Poverty Level by Age, Race, and Hispanic Origin, 2002

(number of people below poverty level by age, race, and Hispanic origin, and percent distribution of poor by race and Hispanic origin, 2002; numbers in thousands)

Total in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

Asian

black

Hispanic

non-Hispanic white

34,570 12,133 3,727 8,405 18,861 4,536 4,674 4,087 2,999 1,302 1,263 3,576 1,696 1,880

1,243 353 83 270 804 211 207 212 103 41 29 86 45 41

8,884 3,817 1,191 2,626 4,376 1,119 1,018 968 823 239 210 691 393 298

8,555 3,782 1,166 2,616 4,334 1,014 1,410 1,016 559 169 165 439 247 192

15,567 4,090 1,261 2,829 9,157 2,165 1,980 1,854 1,485 829 844 2,321 990 1,331

PERCENT DISTRIBUTION OF POOR BY RACE AND HISPANIC ORIGIN

Total in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

3.6% 2.9 2.2 3.2 4.3 4.7 4.4 5.2 3.4 3.1 2.3 2.4 2.7 2.2

25.7% 31.5 32.0 31.2 23.2 24.7 21.8 23.7 27.4 18.4 16.6 19.3 23.2 15.9

24.7% 31.2 31.3 31.1 23.0 22.4 30.2 24.9 18.6 13.0 13.1 12.3 14.6 10.2

45.0% 33.7 33.8 33.7 48.5 47.7 42.4 45.4 49.5 63.7 66.8 64.9 58.4 70.8

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 347

Poverty Rate Is Highest among Children and Young Adults Black children are most likely to be poor. Among the nation’s children under age 5, fully 19.0 percent live below the poverty level— a higher rate than in any other age group. Children aged 5 to 17 have a poverty rate of 15.8 percent, while 16.5 percent of young adults aged 18 to 24 are poor. The poverty rate of people aged 65 or older stood at 10.4 percent in 2002. People aged 45 to 54 are least likely to be poor, with a poverty rate of 7.5 percent. Among adults, poverty is greater among females than males in every age group. Among black children, 31.5 percent are poor—a rate that exceeds the 28.6 percent of Hispanic children who are poor. Among non-Hispanic white children, only 9.4 percent are poor, and among Asian children the rate is 11.0 percent. The poverty rate among blacks and Hispanics is lowest for those aged 55 to 59, at 15.7 and 14.2 percent, respectively. Among non-Hispanic whites, the poverty rate bottoms out among 45-to-54-year-olds at 5.0 percent. ■ Black children have a higher poverty rate than non-Hispanic whites because most are being raised by single mothers. The poverty rate of Hispanic children is high because many have parents who are recent immigrants with little earning power.

Poverty rate is highest for people under age 25 (percent of people below poverty level, by age, 2002)

19.0% 15.8%

16.5%

15%

11.9%

11.7% 10.6% 9.3%

10%

7.5%

8.4%

9.4%

5%

0%

under 5

5 to 17

18 to 24

25 to 34

348 AMERICAN INCOMES: Demographics of Who Has Money

35 to 44

45 to 54

55 to 59

60 to 64

65 to 74

75 or older

POVERTY

Table 6.33

People below Poverty Level by Age and Sex, 2002: Total People

(number and percent of people below poverty level by age and sex, 2002; numbers in thousands) total

females

males

Total people in poverty 34,570 Under age 18 12,133 Under age 5 3,727 Aged 5 to 17 8,405 Aged 18 to 64 18,861 Aged 18 to 24 4,536 Aged 25 to 34 4,674 Aged 35 to 44 4,087 Aged 45 to 54 2,999 Aged 55 to 59 1,302 Aged 60 to 64 1,263 Aged 65 or older 3,576 Aged 65 to 74 1,696 Aged 75 or older 1,880

19,408 5,899 1,815 4,084 11,058 2,658 2,890 2,339 1,690 724 757 2,451 1,058 1,393

15,162 6,234 1,912 4,321 7,804 1,877 1,784 1,748 1,309 578 507 1,125 638 487

Percent of people in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

12.1% 16.7 19.0 15.8 10.6 16.5 11.9 9.3 7.5 8.4 10.6 10.4 9.4 11.7

13.3% 16.6 19.0 15.7 12.2 19.5 14.7 10.5 8.2 9.1 12.1 12.4 10.8 14.1

10.9% 16.8 19.1 15.9 8.9 13.6 9.1 8.0 6.7 7.7 8.9 7.7 7.7 7.8

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 349

Table 6.34

People below Poverty Level by Age and Sex, 2002: Asians

(number and percent of Asians below poverty level by age and sex, 2002; numbers in thousands)

Total Asians in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older Percent of Asians in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

females

males

1,243 353 83 270 804 211 207 212 103 41 29 86 45 41

657 172 46 125 433 105 111 116 64 20 17 53 29 23

586 181 36 145 371 106 96 97 39 22 12 33 16 18

10.2% 11.0 10.2 11.3 10.0 16.2 9.3 10.9 7.1 6.8 7.3 9.5 8.6 11.0

9.7% 11.1 7.6 12.5 9.3 16.4 8.6 9.6 5.2 8.5 5.9 7.5 5.4 11.7

10.0% 11.0 8.9 11.9 9.7 16.3 9.0 10.2 6.3 7.6 6.7 8.7 7.1 11.3

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

350 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.35

People below Poverty Level by Age and Sex, 2002: Blacks

(number and percent of blacks below poverty level by age and sex, 2002; numbers in thousands)

Total blacks in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older Percent of blacks in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

females

males

8,884 3,817 1,191 2,626 4,376 1,119 1,018 968 823 239 210 691 393 298

5,121 1,871 570 1,301 2,768 666 712 615 512 137 126 482 262 220

3,763 1,946 621 1,325 1,608 453 306 353 311 101 83 209 131 78

23.9% 31.5 36.5 29.7 19.7 27.5 19.7 17.4 17.6 15.7 17.8 23.6 23.2 24.2

21.8% 31.9 37.8 29.7 16.0 23.5 13.1 14.2 14.7 15.4 16.2 18.3 18.3 18.4

25.7% 31.2 35.3 29.6 22.8 31.1 25.0 20.1 20.0 16.0 19.1 27.1 26.9 27.2

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 351

Table 6.36

People below Poverty Level by Age and Sex, 2002: Hispanics

(number and percent of Hispanics below poverty level by age and sex, 2002; numbers in thousands)

Total Hispanics in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older Percent of Hispanics in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

females

males

8,555 3,782 1,166 2,616 4,334 1,014 1,410 1,016 559 169 165 439 247 192

4,601 1,865 587 1,278 2,472 581 854 548 296 93 100 264 141 123

3,954 1,917 579 1,338 1,862 433 556 468 263 77 65 175 106 69

21.8% 28.6 29.3 28.3 18.1 21.1 19.0 17.2 15.2 14.2 18.1 21.4 20.2 23.1

24.1% 28.8 30.1 28.2 21.5 26.5 24.8 19.1 15.6 15.4 20.7 23.0 21.2 25.6

19.7% 28.5 28.5 28.5 14.9 16.5 13.9 15.3 14.9 13.0 15.3 19.3 19.0 19.8

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

352 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.37

People below Poverty Level by Age and Sex, 2002: Non-Hispanic Whites

(number and percent of non-Hispanic whites below poverty level by age and sex, 2002; numbers in thousands)

Total non-Hispanic whites in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older Percent of non-Hispanic whites in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

females

males

15,567 4,090 1,261 2,829 9,157 2,165 1,980 1,854 1,485 829 844 2,321 990 1,331

8,885 1,960 598 1,362 5,291 1,289 1,184 1,049 807 459 502 1,634 621 1,012

6,682 2,130 663 1,467 3,865 876 796 804 677 370 341 687 369 319

8.0% 9.4 11.2 8.8 7.5 12.7 8.2 6.1 5.0 6.9 9.1 8.3 6.9 9.8

9.0% 9.2 10.9 8.6 8.6 15.2 9.8 6.9 5.4 7.5 10.4 10.1 8.0 12.2

7.0% 9.5 11.4 8.9 6.4 10.2 6.6 5.4 4.6 6.3 7.6 5.8 5.6 6.0

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 353

Poverty Rate Varies by Family Status and Age The largest share of the poor live in female-headed families. Among the nation’s 35 million poor, the 34 percent plurality lives in female-headed families. A slightly smaller 32 percent live in married-couple families, while 28 percent are what the government terms unrelated individuals—people who live alone or with nonrelatives. Only 5 percent of the poor live in male-headed families. The family status of the poor varies considerably by race and Hispanic origin. Among poor blacks, the 58 percent majority lives in female-headed families. Only 15 percent of poor blacks live in married-couples families. Among Hispanics, in contrast, 48 percent of the poor live in married-couple families and 30 percent live in female-headed families. Among both poor Asians and poor non-Hispanic whites, those living in married-couples families greatly outnumber those in female-headed families. The family status of poor Americans varies greatly by age as well. The majority of poor under age 65 live in families, while the majority of poor aged 65 or older are unrelated individuals. ■ The poverty rate of people aged 65 or older is just 10.4 percent, but among unrelated individuals in the age group the poverty rate is fully 19.5 percent.

People who live alone or with nonrelatives account for a large share of the poor (percent distribution of people living below poverty level, by family status, 2002)

1%

5% in male-headed families d

in unrelated families

34% in female-headed a families

28% unrelated individuals

32% in married-couple families

354 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.38

People below Poverty Level by Age and Family Status, 2002: Total People

(number, percent distribution, and percent of people below poverty level by age and family status, 2002; numbers in thousands) in families

Total people in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

total

married-couple families

34,570 12,133 3,727 8,405 18,861 4,536 4,674 4,087 2,999 1,302 1,263 3,576 1,696 1,880

24,534 11,704 3,642 8,062 11,460 2,442 3,167 2,884 1,622 666 680 1,370 746 624

11,181 4,358 1,435 2,924 5,838 844 1,626 1,483 855 472 558 984 565 419

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

11,657 6,593 2,005 4,588 4,770 1,365 1,345 1,183 616 158 103 294 136 159

1,696 752 202 550 852 232 196 218 151 35 19 92 45 46

417 243 85 158 175 60 70 34 8 2 – – – –

9,618 186 – 186 7,227 2,034 1,438 1,169 1,369 634 583 2,206 950 1,256

PERCENT DISTRIBUTION OF PEOPLE IN POVERTY BY FAMILY STATUS

Total people Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

71.0% 96.5 97.7 95.9 60.8 53.8 67.8 70.6 54.1 51.2 53.8 38.3 44.0 33.2

32.3% 35.9 38.5 34.8 31.0 18.6 34.8 36.3 28.5 36.3 44.2 27.5 33.3 22.3

33.7% 54.3 53.8 54.6 25.3 30.1 28.8 28.9 20.5 12.1 8.2 8.2 8.0 8.5

4.9% 6.2 5.4 6.5 4.5 5.1 4.2 5.3 5.0 2.7 1.5 2.6 2.7 2.4

1.2% 2.0 2.3 1.9 0.9 1.3 1.5 0.8 0.3 0.2 – – – –

27.8% 1.5 – 2.2 38.3 44.8 30.8 28.6 45.6 48.7 46.2 61.7 56.0 66.8 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 355

in families

total

total

12.1% 16.7 19.0 15.8 10.6 16.5 11.9 9.3 7.5 8.4 10.6 10.4 9.4 11.7

10.4% 16.3 18.7 15.4 8.1 11.6 10.6 7.9 4.9 5.4 7.3 6.0 5.6 6.6

married-couple families

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

PERCENT IN POVERTY

Total people Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

6.1% 8.5 9.9 7.9 5.2 6.1 7.1 5.0 3.1 4.4 6.8 5.1 4.8 5.5

28.8% 39.6 49.3 36.5 22.4 26.4 27.8 22.2 15.4 14.0 12.8 11.3 11.5 11.2

13.0% 20.3 22.1 19.8 10.3 11.0 9.9 12.1 9.3 7.6 6.3 8.9 8.9 8.9

33.7% 35.6 58.4 29.4 31.4 62.1 31.4 19.3 – – – – – –

20.4% 94.3 – 94.3 20.3 32.6 15.7 15.8 19.0 20.6 22.7 19.5 20.0 19.0

Note: (–) means number is less than 500, sample is too small to make reliable estimate, or not applicable. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

356 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.39

People below Poverty Level by Age and Family Status, 2002: Asians

(number, percent distribution, and percent of Asians below poverty level by age and family status, 2002; numbers in thousands) in families

Total Asians in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

total

married-couple families

1,243 353 83 270 804 211 207 212 103 41 29 86 45 41

816 340 83 257 426 83 77 145 78 24 20 49 26 24

529 195 44 150 292 42 56 98 55 24 17 43 23 20

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

175 97 29 68 72 19 12 27 13 – – 6 3 3

112 49 9 39 63 22 9 20 9 – 2 – – –

10 7 – 7 3 – 1 2 – – – – – –

417 6 – 6 374 128 130 65 26 18 9 37 19 17

9.0% 13.9 10.8 14.4 7.8 10.4 4.3 9.4 8.7 – 6.9 – – –

0.8% 2.0 – 2.6 0.4 – 0.5 0.9 – – – – – –

33.5% 1.7 – 2.2 46.5 60.7 62.8 30.7 25.2 43.9 31.0 43.0 42.2 41.5

PERCENT DISTRIBUTION OF PEOPLE IN POVERTY BY FAMILY STATUS

Total Asians in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

65.6% 96.3 100.0 95.2 53.0 39.3 37.2 68.4 75.7 58.5 69.0 57.0 57.8 58.5

42.6% 55.2 53.0 55.6 36.3 19.9 27.1 46.2 53.4 58.5 58.6 50.0 51.1 48.8

14.1% 27.5 34.9 25.2 9.0 9.0 5.8 12.7 12.6 – – 7.0 6.7 7.3

(continued)

AMERICAN INCOMES: Demographics of Who Has Money 357

in families

total

total

10.0% 11.0 8.9 11.9 9.7 16.3 9.0 10.2 6.3 7.6 6.7 8.7 7.1 11.3

7.6% 10.7 8.9 11.5 6.3 8.8 4.6 8.1 5.3 5.0 5.2 5.9 4.7 8.3

married-couple families

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

PERCENT IN POVERTY

Total Asians in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

6.0% 7.3 5.5 8.1 5.4 6.5 4.1 6.4 4.6 6.1 5.3 6.5 5.3 8.7

15.3% 27.1 33.4 25.1 10.4 12.9 6.6 19.5 9.5 – – 6.0 – –

13.5% 31.4 – 33.3 10.5 14.4 5.8 17.4 8.6 – – 0.5 – –

– – – – – – – – – – – – – –

24.4% – – – 24.2 36.5 21.0 23.1 13.6 – – 23.3 24.0 22.6

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500, sample is too small to make reliable estimate, or not applicable. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

358 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.40

People below Poverty Level by Age and Family Status, 2002: Blacks

(number, percent distribution, and percent of blacks below poverty level by age and family status, 2002; numbers in thousands) in families

Total blacks in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

total

married-couple families

8,884 3,817 1,191 2,626 4,376 1,119 1,018 968 823 239 210 691 393 298

6,985 3,748 1,179 2,569 2,956 836 762 716 448 104 90 281 176 105

1,362 541 172 369 685 98 181 185 137 31 53 136 101 35

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

5,145 3,001 953 2,048 2,023 642 541 468 274 62 35 121 58 63

478 206 54 153 248 96 39 63 36 11 2 24 17 7

48 26 12 14 22 10 8 4 – – – – – –

1,851 44 – 44 1,398 273 248 248 375 134 119 410 217 193

5.4% 5.4 4.5 5.8 5.7 8.6 3.8 6.5 4.4 4.6 1.0 3.5 4.3 2.3

0.5% 0.7 1.0 0.5 0.5 0.9 0.8 0.4 – – – – – –

PERCENT DISTRIBUTION OF BLACKS IN POVERTY BY FAMILY STATUS

Total blacks in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

78.6% 98.2 99.0 97.8 67.6 74.7 74.9 74.0 54.4 43.5 42.9 40.7 44.8 35.2

15.3% 14.2 14.4 14.1 15.7 8.8 17.8 19.1 16.6 13.0 25.2 19.7 25.7 11.7

57.9% 78.6 80.0 78.0 46.2 57.4 53.1 48.3 33.3 25.9 16.7 17.5 14.8 21.1

20.8% 1.2 – 1.7 31.9 24.4 24.4 25.6 45.6 56.1 56.7 59.3 55.2 64.8 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 359

in families

total

total

23.9% 31.5 36.5 29.7 19.7 27.5 19.7 17.4 17.6 15.7 17.8 23.6 23.2 24.2

22.5% 31.3 36.5 29.4 17.2 24.8 19.0 16.1 12.7 9.8 11.1 15.6 15.9 15.1

married-couple families

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

PERCENT IN POVERTY

Total blacks in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

8.9% 11.0 13.2 10.2 7.5 7.9 8.9 7.5 6.4 4.4 9.3 11.7 13.1 8.9

38.0% 46.9 53.8 44.3 30.5 36.9 32.6 28.4 24.8 21.9 18.2 23.1 21.5 24.7

21.5% 30.4 34.9 29.1 17.3 25.4 12.1 19.0 13.1 – – 20.0 – –

29.0% 27.2 – – – – – – – – – – – –

30.7% – – – 28.7 40.0 21.8 23.0 32.4 29.2 33.1 36.8 37.4 36.1

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500, sample is too small to make reliable estimate, or not applicable. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

360

AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.41

People below Poverty Level by Age and Family Status, 2002: Hispanics

(number, percent distribution, and percent of Hispanics below poverty level by age and family status, 2002; numbers in thousands) in families

Total Hispanics in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

total

married-couple families

8,555 3,782 1,166 2,616 4,334 1,014 1,410 1,016 559 169 165 439 247 192

7,184 3,677 1,138 2,538 3,252 712 1,111 833 378 110 109 255 153 102

4,091 1,903 631 1,272 1,996 341 737 536 226 73 83 192 128 64

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

2,554 1,511 422 1,090 995 302 284 240 116 33 20 47 21 27

539 262 85 176 261 69 90 58 35 4 6 16 5 12

116 71 28 43 45 16 18 11 – – – – – –

1,255 34 – 34 1,037 286 281 173 181 59 56 184 94 90

6.3% 6.9 7.3 6.7 6.0 6.8 6.4 5.7 6.3 2.4 3.6 3.6 2.0 6.3

1.4% 1.9 2.4 1.6 1.0 1.6 1.3 1.1 – – – – – –

PERCENT DISTRIBUTION OF HISPANICS IN POVERTY BY FAMILY STATUS

Total Hispanics in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

84.0% 97.2 97.6 97.0 75.0 70.2 78.8 82.0 67.6 65.1 66.1 58.1 61.9 53.1

47.8% 50.3 54.1 48.6 46.1 33.6 52.3 52.8 40.4 43.2 50.3 43.7 51.8 33.3

29.9% 40.0 36.2 41.7 23.0 29.8 20.1 23.6 20.8 19.5 12.1 10.7 8.5 14.1

14.7% 0.9 – 1.3 23.9 28.2 19.9 17.0 32.4 34.9 33.9 41.9 38.1 46.9 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 361

in families

total

total

21.8% 28.6 29.3 28.3 18.1 21.1 19.0 17.2 15.2 14.2 18.1 21.4 20.2 23.1

20.8% 28.2 28.9 27.9 16.3 17.9 18.5 16.4 12.2 11.0 14.1 15.7 15.6 15.8

married-couple families

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

PERCENT IN POVERTY

Total Hispanics in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

16.6% 21.3 22.5 20.7 13.8 14.1 16.6 13.8 9.7 9.1 13.5 16.0 16.8 14.5

36.4% 47.8 51.3 46.6 28.0 30.1 30.0 28.6 22.1 25.3 18.3 16.0 13.1 19.3

18.4% 28.8 27.0 29.7 13.8 12.7 14.8 15.1 14.5 – – 12.3 – –

45.6% 49.7 – 41.6 40.2 – – – – – – – – –

28.8% – – – 26.6 35.2 20.3 21.5 31.9 31.5 41.0 43.0 38.7 48.6

Note: (–) means number is less than 500, sample is too small to make reliable estimate, or not applicable. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

362 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.42

People below Poverty Level by Age and Family Status, 2002: Non-Hispanic Whites

(number, percent distribution, and percent of non-Hispanic whites below poverty level by age and family status, 2002; numbers in thousands) in families

Total non-Hispanic whites in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

total

total

married-couple families

15,567 4,090 1,261 2,829 9,157 2,165 1,980 1,854 1,485 829 844 2,321 990 1,331

9,389 3,864 1,220 2,644 4,754 817 1,191 1,169 702 420 453 771 384 387

5,114 1,682 571 1,111 2,827 370 646 650 423 338 400 605 306 299

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

3,733 1,957 593 1,364 1,660 404 489 447 212 62 46 117 55 62

542 225 55 170 267 44 56 72 67 20 8 50 23 27

232 131 41 89 101 35 38 17 8 2 – – – –

5,947 96 – 96 4,302 1,313 750 667 774 407 390 1,549 605 944

PERCENT DISTRIBUTION OF NON-HISPANIC WHITES IN POVERTY BY FAMILY STATUS

Total non-Hispanic whites in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

60.3% 94.5 96.7 93.5 51.9 37.7 60.2 63.1 47.3 50.7 53.7 33.2 38.8 29.1

32.9% 41.1 45.3 39.3 30.9 17.1 32.6 35.1 28.5 40.8 47.4 26.1 30.9 22.5

24.0% 47.8 47.0 48.2 18.1 18.7 24.7 24.1 14.3 7.5 5.5 5.0 5.6 4.7

3.5% 5.5 4.4 6.0 2.9 2.0 2.8 3.9 4.5 2.4 0.9 2.2 2.3 2.0

1.5% 3.2 3.3 3.1 1.1 1.6 1.9 0.9 0.5 0.2 – – – –

38.2% 2.3 – 3.4 47.0 60.6 37.9 36.0 52.1 49.1 46.2 66.7 61.1 70.9 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 363

in families

total

total

8.0% 9.4 11.2 8.8 7.5 12.7 8.2 6.1 5.0 6.9 9.1 8.3 6.9 9.8

5.9% 9.0 10.9 8.3 4.9 6.5 6.6 4.7 2.8 4.3 6.2 4.2 3.6 4.9

married-couple families

female hh, no spouse present

male hh, no spouse present

in unrelated families

unrelated individuals

PERCENT IN POVERTY

Total non-Hispanic whites in poverty Under age 18 Under age 5 Aged 5 to 17 Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

3.8% 4.9 6.1 4.4 3.4 3.9 4.3 3.1 2.0 3.8 6.0 3.8 3.2 4.6

20.0% 29.1 42.6 25.6 16.1 18.0 24.1 16.7 9.6 9.4 9.8 7.0 8.1 6.3

7.9% 12.0 14.2 11.4 6.3 4.3 6.5 7.7 6.8 7.3 4.8 7.1 7.2 7.0

30.2% 31.4 – 26.1 28.9 – 28.2 14.5 – – – – – –

17.2% 96.0 – 96.0 17.2 30.4 12.6 12.9 14.9 17.6 19.5 16.2 16.0 16.4

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. (–) means number is less than 500, sample is too small to make reliable estimate, or not applicable. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

364 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Poverty Is Highest in the South Among older Americans, poverty rate is lowest in the West. With 13.8 percent of its residents living below the poverty level in 2002, the South has the highest overall poverty rate. In every age group, the poverty rate is highest in the South. The rate peaks at 19.3 percent among children under age 18 in the region compared with a poverty rate of 17.1 percent among children in the West, 15.1 percent among those in the Northeast, and 13.4 percent for children in the Midwest. In every region, older Americans are more likely to be poor than the middle-aged. Among people aged 65 or older, poverty rates are lowest in the West (8.6 percent) and highest in the South (12.7 percent). Poverty differs among regions by race and Hispanic origin. For Asians and blacks, the poverty rate is highest in the Midwest. Among Hispanics, it is highest in the Northeast. Among non-Hispanic whites, poverty is highest in the South. Non-Hispanic whites account for a minority of the poor in three of the four regions. They are the majority of poor only in the Midwest. ■ Poverty rates are highest in the South in part because of the region’s large black population.

Poverty rate is lowest in the Midwest (percent of people below poverty level, by region, 2002)

13.8% 12.4% 10.9%

10.3%

10%

5%

0%

Northeast

Midwest

South

West

AMERICAN INCOMES: Demographics of Who Has Money 365

Table 6.43

People below Poverty Level by Age and Region, 2002

(number, percent distribution, and percent of people below poverty level, by age and region, 2002; numbers in thousands) total

Northeast

Midwest

South

West

34,570 12,133 4,536 4,674 4,087 2,999 1,302 1,263 3,576 1,696 1,880

5,871 1,943 689 760 725 591 212 225 726 324 401

6,616 2,201 985 911 758 564 251 266 679 332 347

14,019 4,994 1,780 1,819 1,583 1,179 535 544 1,585 765 820

8,064 2,995 1,081 1,184 1,021 664 304 229 586 275 312

NUMBER IN POVERTY

Total people Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

PERCENT DISTRIBUTION OF POOR BY REGION

Total people Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

17.0% 16.0 15.2 16.3 17.7 19.7 16.3 17.8 20.3 19.1 21.3

19.1% 18.1 21.7 19.5 18.5 18.8 19.3 21.1 19.0 19.6 18.5

40.6% 41.2 39.2 38.9 38.7 39.3 41.1 43.1 44.3 45.1 43.6

23.3% 24.7 23.8 25.3 25.0 22.1 23.3 18.1 16.4 16.2 16.6

12.1% 16.7 16.5 11.9 9.3 7.5 8.4 10.6 10.4 9.4 11.7

10.9% 15.1 13.9 10.6 8.4 7.6 7.2 9.6 9.9 8.9 11.0

10.3% 13.4 15.6 10.7 7.5 6.0 7.3 9.9 8.9 8.4 9.5

13.8% 19.3 18.5 12.9 10.3 8.3 9.5 12.5 12.7 11.3 14.5

12.4% 17.1 16.5 12.6 10.2 7.4 8.8 9.1 8.6 7.5 9.8

PERCENT IN POVERTY

Total people Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

366

AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.44

People below Poverty Level by Region, Race, and Hispanic Origin, 2002

(number, percent distribution, and percent of people below poverty level, by region, race, and Hispanic origin, 2002; numbers in thousands) total

Asian

black

Hispanic

non-Hispanic white

Total people in poverty 34,570 Northeast 5,871 Midwest 6,616 South 14,019 West 8,064

1,243 201 194 281 566

8,884 1,677 1,786 4,767 653

8,555 1,405 662 3,014 3,474

15,567 2,808 3,839 5,775 3,145

PERCENT DISTRIBUTION OF POOR BY RACE AND HISPANIC ORIGIN

Total people in poverty Northeast Midwest South West

100.0% 100.0 100.0 100.0 100.0

3.6% 3.4 2.9 2.0 7.0

25.7% 28.6 27.0 34.0 8.1

24.7% 23.9 10.0 21.5 43.1

45.0% 47.8 58.0 41.2 39.0

12.1% 10.9 10.3 13.8 12.4

10.0% 8.4 13.2 10.5 9.6

23.9% 24.0 26.1 24.2 18.1

21.8% 25.3 19.4 22.3 20.8

8.0% 7.1 7.3 8.9 8.4

PERCENT IN POVERTY

Total people in poverty Northeast Midwest South West

Note: Asians and blacks include those who identified themselves as being of the race alone and those who identified themselves as being of the race in combination with one or more other races. Non-Hispanic whites include only those identifying themselves as being white alone and not Hispanic. Numbers will not add to total because some people identified themselves as being of more than one race, not all races are shown, and Hispanics may be of any race. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 367

Nearly One-Third of Nation’s Poor Live in Three States Nine states are home to more than 1 million poor people. Thirty-one percent of poor Americans live in California, Texas, or New York. California alone is home to 13 percent, while Texas accounts for another 10 percent and New York an additional 8 percent. Other states with more than 1 million poor residents are Florida, Illinois, Michigan, North Carolina, Ohio, and Pennsylvania. Together, the nine states with at least 1 million poor residents account for the 55 percent majority of the nation’s poor. The poverty rate was highest in Arkansas, at 19.8 percent in 2002. Mississippi’s poverty rate stood at 18.4 percent, while 17.9 percent of New Mexico’s residents are poor. The poverty rate is lowest in New Hampshire, at 5.8 percent. Maryland, Minnesota, and New Jersey are the only other states that have poverty rates below 8.0 percent. ■ State poverty rates rise or fall in response to local economic conditions. The states with the lowest poverty rates weathered the recession of 2001 better than those with higher poverty rates.

The majority of poor Americans live in just nine states (number of people below poverty level for states with at least 1 million poor residents, 2002; numbers in millions)

4.6 4 million

3.4 2.7 2.1 2 million

1.6 1.2

1.2

1.2

1.1

Michigan

Ohio

0

California

368

Texas

New York

AMERICAN INCOMES: Demographics of Who Has Money

Florida

Illinois

North Carolina Pennsylvania

POVERTY

Table 6.45

People below Poverty Level by State, 2002

(number, percent, and percent distribution of people below poverty level by state, 2002; numbers in thousands) number in poverty

United States Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania

34,570 640 56 735 532 4,605 436 279 73 97 2,058 939 138 147 1,594 552 267 269 571 777 170 400 648 1,152 325 513 551 122 181 188 73 681 328 2,690 1,165 73 1,099 489 380 1,152

percent in poverty

12.1% 14.5 8.8 13.5 19.8 13.1 9.8 8.3 9.1 17.0 12.6 11.2 11.3 11.3 12.8 9.1 9.2 10.1 14.2 17.5 13.4 7.4 10.0 11.6 6.5 18.4 9.9 13.5 10.6 8.9 5.8 7.9 17.9 14.0 14.3 11.6 9.8 14.1 10.9 9.5

percent distribution of poor by state

100.0% 1.9 0.2 2.1 1.5 13.3 1.3 0.8 0.2 0.3 6.0 2.7 0.4 0.4 4.6 1.6 0.8 0.8 1.7 2.2 0.5 1.2 1.9 3.3 0.9 1.5 1.6 0.4 0.5 0.5 0.2 2.0 0.9 7.8 3.4 0.2 3.2 1.4 1.1 3.3 (continued)

AMERICAN INCOMES: Demographics of Who Has Money 369

number in poverty

Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

116 568 85 839 3,362 228 61 702 657 293 467 44

percent in poverty

11.0% 14.3 11.5 14.8 15.6 9.9 9.9 9.9 11.0 16.8 8.6 9.0

percent distribution of poor by state

0.3% 1.6 0.2 2.4 9.7 0.7 0.2 2.0 1.9 0.8 1.4 0.1

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

370 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

One in Four Children Living in Central Cities Is Poor In the suburbs, 11.5 percent of children are poor. Nationally, the poverty rate is higher in the nation’s central cities than in the suburbs or nonmetropolian areas. In 2002, 16.7 percent of central city residents were poor. In the suburbs, the poverty rate is a smaller 8.9 percent, while 14.2 percent of nonmetroplitan residents are poor. Among children living in central cities, 24.5 percent are poor. The poverty rate of young adults in central cities is not far behind, at 20.9 percent. In contrast, the lowest poverty rate is found among 45-to-54-year-olds living in the suburbs, only 5.3 percent of whom were poor in 2002. In the nation’s 15 largest metropolitan areas, poverty rates are highest in the central city of Houston, at 27.7 percent. The central city poverty rate is lowest in Philadelphia, where just 8.7 percent were poor in 2002. ■ The poverty rate is lower in the suburbs than in central cities because two-earner married couples account for a large share of suburban households.

Poverty rate is highest in central cities (percent of people below poverty level, by metropolitan residence, 2002)

16.7% 14.2%

15%

10%

8.9%

5%

0%

central cities

suburbs

nonmetropolitan areas

AMERICAN INCOMES: Demographics of Who Has Money 371

Table 6.46

People below Poverty Level by Age and Metropolitan Status, 2002

(number, percent distribution, and percent of people below poverty level, by age and metropolitan status, 2002; numbers in thousands) in metropolitan areas total

total

central cities

Total people in poverty 34,570 Under age 18 12,133 Aged 18 to 24 4,536 Aged 25 to 34 4,674 Aged 35 to 44 4,087 Aged 45 to 54 2,999 Aged 55 to 59 1,302 Aged 60 to 64 1,263 Aged 65 or older 3,576 Aged 65 to 74 1,696 Aged 75 or older 1,880

27,096 9,533 3,669 3,744 3,240 2,321 976 958 2,655 1,276 1,379

13,784 5,046 1,959 2,042 1,609 1,149 440 390 1,149 547 602

suburbs

not in metropolitan areas

13,311 4,487 1,709 1,702 1,631 1,172 537 568 1,506 729 777

7,474 2,600 867 930 847 678 326 305 921 420 501

PERCENT DISTRIBUTION OF POOR BY METROPOLITAN STATUS

Total people Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

100.0% 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

78.4% 78.6 80.9 80.1 79.3 77.4 75.0 75.9 74.2 75.2 73.4

39.9% 41.6 43.2 43.7 39.4 38.3 33.8 30.9 32.1 32.3 32.0

38.5% 37.0 37.7 36.4 39.9 39.1 41.2 45.0 42.1 43.0 41.3

21.6% 21.4 19.1 19.9 20.7 22.6 25.0 24.1 25.8 24.8 26.6

12.1% 16.7 16.5 11.9 9.3 7.5 8.4 10.6 10.4 9.4 11.7

11.6% 16.0 16.0 11.4 8.9 7.1 7.9 10.3 10.0 9.1 11.0

16.7% 24.5 20.9 15.1 13.1 10.8 11.0 13.6 12.2 11.4 13.1

8.9% 11.5 12.7 8.7 6.7 5.3 6.4 8.8 8.8 7.9 9.8

14.2% 19.8 19.0 14.9 11.2 8.9 10.4 11.8 11.9 10.2 13.8

PERCENT IN POVERTY

Total people Under age 18 Aged 18 to 24 Aged 25 to 34 Aged 35 to 44 Aged 45 to 54 Aged 55 to 59 Aged 60 to 64 Aged 65 or older Aged 65 to 74 Aged 75 or older

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

372 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.47

People below Poverty Level by Metropolitan Area, 2002

(number and percent of people below poverty level in the fifteen largest metropolitan areas and their central cities, 2002; numbers in thousands) number of poor

percent in poverty

New York–Northern New Jersey– Long Island CMSA Central cities

2,616 1,831

12.1% 19.1

Los Angeles–Anaheim–Riverside CMSA Central cities

2,613 1,102

15.4 19.3

Chicago–Gary–Lake County CMSA Central cities

1,040 645

11.7 20.2

San Francisco–Oakland–San Jose CMSA Central cities

622 219

7.6 15.5

Philadelphia–Wilmington–Trenton CMSA Central cities

489 277

7.1 8.7

Detroit–Ann Arbor CMSA Central cities

675 345

10.7 21.0

Boston–Lawrence–Salem CMSA 502 Central cities

8.5 250

14.2

Houston–Galveston–Brazoria CMSA Central cities

683 383

11.8 27.7

Dallas–Fort Worth CMSA Central cities

753 463

12.3 15.8

Washington DC–MD–VA MSA Central cities

672 348

14.3 17.6

Note: For definitions of CMSA and MSA, see the glossary. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 373

Many Young Adult Workers Are Poor Among 18-to-24-year-olds, nearly one in eight workers is poor. While poverty rates are relatively low for people with jobs, a substantial number of workers are poor despite getting a paycheck. Among all workers aged 18 or older, 5.9 percent had incomes that placed them below poverty level in 2002. The poverty rate among workers is highest in the young-adult age group: 11.5 percent of 18-to-24-year-old workers are poor. Even among young adults who work full-time, 4.8 percent are poor. Many young adults make minimum wage in entry-level jobs. Among black workers, a substantial 10.9 percent were poor in 2002, including 4.8 percent of those with full-time jobs. Among employed blacks aged 18 to 24, fully 18.7 percent lived in poverty. A smaller 8.1 percent of those with full-time jobs were poor. Eleven percent of Hispanic workers are poor, including 6.8 percent of those with fulltime jobs compared with a poverty rate of 4.2 percent for non-Hispanic white workers, and just 1.5 percent for non-Hispanic whites who work full-time. ■ The poverty rate is lower for non-Hispanic white workers partly because they are more likely than black or Hispanic workers to live in households with two or more earners.

Among black and Hispanic workers, more than one in ten is poor (percent of workers aged 16 or older below poverty level, by race and Hispanic origin, 2002)

10.9%

11.4%

10%

5.3% 5%

4.2%

0%

Asian

374 AMERICAN INCOMES: Demographics of Who Has Money

black

Hispanic

non-Hispanic white

POVERTY

Table 6.48

Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Total People

(number and percent of workers aged 18 or older below poverty level by sex, age, and work status, 2002; people in thousands) total workers number

full-time, year-round workers percent

number

percent

Total workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

8,954 8,608 2,343 2,484 3,167 614 145

5.9% 6.0 11.5 7.5 4.5 3.4 2.5

2,635 2,588 380 845 1,196 167 42

2.6% 2.6 4.8 3.6 2.2 1.3 1.8

Male workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

4,071 3,915 991 1,098 1,547 279 65

5.1 5.2 9.3 6.1 4.1 2.9 2.0

1,486 1,458 190 468 707 92 23

2.5 2.5 4.1 3.3 2.3 1.2 1.6

Female workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

4,883 4,693 1,352 1,386 1,620 335 80

6.9 7.0 13.9 9.1 4.8 3.9 3.2

1,149 1,130 189 377 488 75 19

2.7 2.8 5.7 4.0 2.1 1.4 2.2

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 375

Table 6.49

Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Asians

(number and percent of Asian workers aged 18 or older below poverty level by sex, age, and work status, 2002; people in thousands) total workers number

full-time, year-round workers percent

number

percent

Total Asian workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

345 335 100 79 136 20 4

5.3% 5.3 13.1 4.4 4.4 3.1 2.3

91 90 8 18 59 5 1

2.0% 2.0 2.9 1.5 2.4 1.0 0.8

Asian male workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

195 192 57 47 77 10 –

5.6 5.7 13.7 4.8 4.8 2.9 0.4

61 61 6 8 42 5 –

2.3 2.4 3.5 1.0 3.1 1.7 –

Asian female workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

150 143 43 32 58 10 4

5.0 4.9 12.3 4.0 4.0 3.3 –

30 30 2 11 17 – 1

1.6 1.6 2.0 2.1 1.6 – –

Note: The Asian population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. (–) means number is less than 500 or sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

376 AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.50

Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Blacks

(number and percent of black workers aged 18 or older below poverty level by sex, age, and work status, 2002; people in thousands) total workers number

Total black workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

1,861 1,802 475 514 729 84 27

Black male workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older Black female workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

full-time, year-round workers percent

number

percent

10.9% 11.0 18.7 12.3 8.9 5.3 6.9

560 548 81 179 274 15 12

4.8% 4.8 8.1 6.1 4.3 1.3 5.9

608 581 164 127 254 35 9

7.7 7.7 13.7 6.7 6.8 5.1 4.8

170 165 31 38 90 6 5

3.1 3.1 6.1 2.7 3.0 1.2 4.3

1,253 1,221 310 387 475 49 18

13.6 13.7 23.3 17.0 10.8 5.5 9.0

390 384 50 141 184 9 7

6.4 6.4 10.1 9.2 5.5 1.5 8.0

Note: The black population includes those identifying themselves as being of the race alone and those identifying themselves as being of the race in combination with one or more other races. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 377

Table 6.51

Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Hispanics

(number and percent of Hispanic workers aged 18 or older below poverty level by sex, age, and work status, 2002; people in thousands) total workers number

full-time, year-round workers percent

number

percent

Total Hispanic workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

2,131 2,064 463 712 813 76 19

11.4% 11.4 13.9 12.0 10.6 6.1 6.8

870 860 129 306 392 33 6

6.8% 6.8 7.6 7.1 6.9 3.6 4.8

Hispanic male workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

1,199 1,173 246 404 480 43 8

10.8 10.8 12.0 11.0 11.1 5.8 4.4

581 573 75 218 261 19 5

7.1 7.1 6.6 7.5 7.6 3.3 5.2

932 891 217 308 333 33 12

12.3 12.2 17.0 13.8 10.1 6.5 11.0

289 287 54 88 131 14 2

6.3 6.3 9.7 6.3 5.9 4.2 –

Hispanic female workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

Note: (–) means sample is too small to make a reliable estimate. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

378

AMERICAN INCOMES: Demographics of Who Has Money

POVERTY

Table 6.52

Number and Percent of Workers below Poverty Level by Sex, Age, and Work Status, 2002: Non-Hispanic Whites

(number and percent of non-Hispanic white workers aged 18 or older below poverty level by sex, age, and work status, 2002; people in thousands) total workers number

full-time, year-round workers percent

number

percent

Total non-Hispanic white workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

4,498 4,302 1,279 1,141 1,456 425 86

4.2% 4.3 9.4 5.4 2.8 2.9 1.8

Non-Hispanic white male workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

2,003 1,916 517 502 714 184 39

3.5 3.6 7.5 4.5 2.6 2.3 1.5

662 647 85 199 300 63 14

1.6 1.6 3.1 2.2 1.3 1.1 1.2

Non-Hispanic white female workers in poverty Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

2,496 2,386 762 640 742 241 46

4.9 5.0 11.4 6.5 3.1 3.5 2.2

436 426 79 135 158 54 10

1.5 1.5 3.7 2.2 1.0 1.3 1.4

1,098 1,073 164 333 458 117 23

1.5% 1.5 3.3 2.2 1.2 1.2 1.3

Note: The non-Hispanic white population includes only those identifying themselves as being white alone and not Hispanic. Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm

AMERICAN INCOMES: Demographics of Who Has Money 379

More than One-Fourth of the Nonworking Poor Are Ill or Disabled A large share of the nonworking poor are retired, and many say they are caring for home and family. Among the 15 million poor people aged 18 or older who were not in the labor force at any time in 2002, illness or disability was one of the most important reasons cited for not working. Twenty-six percent gave this reason, including 47 percent of those aged 35 to 54. An equally large share of the nonworking poor did not work because they are retired, including 80 percent of those aged 65 or older. Another 21 percent of the nonworking poor cited caring for home and family as the reason they did not work in 2002. Among poor women aged 25 to 34 who were not working, 62 percent gave family reasons. Despite the recession and jobless recovery, few of the nonworking poor said they did not work in 2002 because they could not get a job—only 9 percent of poor men and 3 percent of poor women gave this reason. Among poor men aged 25 to 34, however, fully 18 percent say they did not work because they could not find a job. ■ As the population ages, illness and disability could become an even more important reason for keeping the poor out of the labor force.

Many of the poor are too sick to work (percent distribution of poor people aged 18 or older who did not work, by reason for not working, 2002)

6% could not find work

26% ill or disabled

a

21%

school/otherd

21%

c

home or family

380

AMERICAN INCOMES: Demographics of Who Has Money

b 26% retired

POVERTY

Table 6.53

People below Poverty Level by Reason for Not Working, 2002

(number of people aged 18 or older below poverty level who did not work during the year and percent distribution by reason for not working, by sex and age, 2002; numbers in thousands) did not work at all in 2002 total number

percent

ill or disabled

home or family

retired

could not find work

school/other

Total people in poverty who did not work 14,647 Aged 18 to 64 10,253 Aged 18 to 24 2,193 Aged 25 to 34 2,189 Aged 35 to 54 3,919 Aged 55 to 64 1,951 Aged 65 or older 3,432

100.0% 100.0 100.0 100.0 100.0 100.0 100.0

26.2% 31.9 7.2 18.3 46.9 44.8 15.8

26.3% 10.6 1.0 3.3 6.5 37.7 80.2

21.2% 28.8 25.5 47.3 28.2 13.0 3.4

Total men in poverty who did not work Aged 18 to 64 Aged 18 to 24 Aged 25 to 34 Aged 35 to 54 Aged 55 to 64 Aged 65 or older

5,410 3,889 887 686 1,510 806 1,060

100.0 100.0 100.0 100.0 100.0 100.0 100.0

30.9 38.3 10.8 25.4 56.2 46.0 15.8

25.1 12.4 0.7 4.4 6.9 42.2 82.5

6.4 8.5 6.8 14.1 9.0 4.6 1.0

9.1 12.4 14.7 17.8 12.7 4.8 0.1

28.5 28.4 67.1 38.3 15.1 2.4 0.6

Total women in poverty who did not work 9,237 Aged 18 to 64 6,364 Aged 18 to 24 1,307 Aged 25 to 34 1,503 Aged 35 to 54 2,410 Aged 55 to 64 1,145 Aged 65 or older 2,372

100.0 100.0 100.0 100.0 100.0 100.0 100.0

23.4 28.0 4.7 15.0 41.0 44.0 15.9

26.9 9.5 1.3 2.8 6.2 34.5 79.2

29.8 41.2 38.2 62.5 40.1 18.9 4.4

3.4 4.9 6.1 4.6 5.9 1.7 0.1

16.4 16.5 49.7 15.1 6.7 1.0 0.4

5.5% 7.7 9.6 8.8 8.5 2.9 0.1

20.9% 21.0 56.7 22.4 10.0 1.5 0.4

Source: Bureau of the Census, 2003 Current Population Survey Annual Social and Economic Supplement, Internet site http:// ferret.bls.census.gov/macro/032003/pov/toc.htm; calculations by New Strategist

AMERICAN INCOMES: Demographics of Who Has Money 381

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Glossary adjusted for inflation Income or a change in income that has been adjusted for the rise in the cost of living, or the consumer price index (CPI-U-RS). In this book any year-to-year changes in income or spending are shown in inflation-adjusted dollars. aggregate income The total amount of household income, calculated by multiplying average income by the number of households. Asian Asian figures include both those who identified themselves as Asian and no other race (called “Asian alone”) and those who identified themselves as Asian and some other race (called “Asian in combination”). Asian figures include Native Hawaiians and other Pacific Islanders. black The black racial category includes those who identified themselves as “black” or “African American.” Black figures include those who identified themselves as black and no other race (called “black alone”) and those who identified themselves as black and some other race (called “black in combination”). baby boom Americans born between 1946 and 1964. baby bust Americans born between 1965 and 1976, also known as Generation X. central cities The largest city in a metropolitan area is called the central city. The balance of the metropolitan area outside the central city is regarded as the “suburbs.” consolidated metropolitan statistical area or CMSA An area that meets the requirements for recognition as an MSA (metropolitan statistical area) and also has a population of 1 million or more may be recognized as a consolidated metropolitan statistical area (or CMSA) if it includes separate component areas that meet the statistical criteria specified in the standards for metropolitan areas, and if local opinion indicates there is support for the component areas. The components of CMSAs are called primary metropolitan statistical areas (or PMSAs).

Current Population Survey The CPS is a nationally representative survey of the civilian noninstitutional population aged 15 or older. It is taken monthly by the Census Bureau for the Bureau of Labor Statistics, collecting information from more than 50,000 households on employment and unemployment. In March of each year, the survey includes the Annual Social and Economic Supplement, which is the source of most national data on the characteristics of Americans such their incomes and poverty status. discretionary income The amount of money households have left over after they pay taxes and buy necessities. dual-earner couple A married couple in which both the householder and the householder’s spouse are in the labor force. earnings One type of income. See also Income. educational attainment The highest grade or degree completed by a person or householder. employed All civilians who did any work as a paid employee or farmer/self-employed worker, or who worked 15 hours or more as an unpaid farm worker or in a family-owned business, during the reference period. All those who have jobs but who are temporarily absent from their jobs due to illness, bad weather, vacation, labor management dispute, or personal reasons are considered employed. family A group of two or more people (one of whom is the householder) related by birth, marriage, or adoption and living in the same household. family household A household maintained by a householder who lives with one or more people related to him or her by blood, marriage, or adoption. female/male householder A woman or man who maintains a household without a spouse present. May head family or nonfamily households.

AMERICAN INCOMES: Demographics of Who Has Money 383

full-time employment At least 35 hours of work per week during a majority of the weeks worked during the year. full-time, year-round Indicates 50 or more weeks of full-time employment during the previous calendar year. generation X Americans born between 1965 and 1976, also known as the baby-bust generation. Hispanic Hispanic origin is self-reported in a question separate from race. Because Hispanic is an ethnic origin rather than a race, Hispanics may be of any race. While most Hispanics are white, there are black, Asian, American Indian, and even Native Hawaiian Hispanics. household All the persons who occupy a housing unit. A household includes the related family members and all the unrelated persons, if any, such as lodgers, foster children, wards, or employees who share the housing unit. A person living alone is counted as a household. A group of unrelated people who share a housing unit as roommates or unmarried partners is also counted as a household. Households do not include group quarters such as college dormitories, prisons, or nursing homes. household, race/Hispanic origin of Households are categorized according to the race or Hispanic origin of the householder only. householder The householder is the person (or one of the persons) in whose name the housing unit is owned or rented or, if there is no such person, any adult member. With married couples, the householder may be either the husband or wife. The householder is the reference person for the household. householder, age of The age of the householder is used to categorize households into age groups such as those used in this book. Married couples, for example, are classified according to the age of either the husband or wife, depending on which one identified him or herself as the householder. income Money received in the preceding calendar year by each person aged 15 or older from each of

384 AMERICAN INCOMES: Demographics of Who Has Money

the following sources: (1) earnings from longest job (or self-employment); (2) earnings from jobs other than longest job; (3) unemployment compensation; (4) workers’ compensation; (5) Social Security; (6) Supplemental Security income; (7) public assistance; (8) veterans’ payments; (9) survivor benefits; (10) disability benefits; (11) retirement pensions; (12) interest; (13) dividends; (14) rents and royalties or estates and trusts; (15) educational assistance; (16) alimony; (17) child support; (18) financial assistance from outside the household, and other periodic income. Income is reported in several ways in this book. Household income is the combined income of all household members. Income of persons is all income accruing to a person from all sources. Earnings are the money a person receives from his or her job. income fifths or quintiles Where the total number of households are divided into fifths based on household income. One-fifth of households fall into the lowest income quintile, one-fifth into the second income quintile, and so on. Quintiles provide a useful way to compare the characteristics of households by income. labor force The labor force includes both the employed and the unemployed (people who are looking for work). People are counted as in the labor force if they were working or looking for work during the reference week in which the Census Bureau fields the Current Population Survey. labor force participation rate The percent of the civilian noninstitutional population that is in the civilian labor force, which includes both the employed and the unemployed. married couples with or without children under age 18 Refers to married couples with or without own children under age 18 living in the same household. Couples without children under age 18 may be parents of grown children who live elsewhere, or they could be childless couples. means-tested assistance Government benefits received by people or households whose incomes fall below a certain threshold. Some means-tested assistance is noncash, such as food stamps, Medicaid, and housing subsidies.

median The median is the amount that divides the population or households into two equal portions: one below and one above the median. Medians can be calculated for income, age, and many other characteristics. median income The amount that divides the income distribution into two equal groups, half having incomes above the median, half having incomes below the median. The medians for households or families are based on all households or families. The median for people are based on all persons aged 15 or older with income. metropolitan statistical area (MSA) To be defined as a metropolitan statistical area (or MSA), an area must include a city with 50,000 or more inhabitants, or a Census Bureau-defined urbanized area of at least 50,000 inhabitants and a total metropolitan population of at least 100,000 (75,000 in New England). The county (or counties) that contains the largest city becomes the “central county” (counties), along with any adjacent counties that have at least 50 percent of their population in the urbanized area surrounding the largest city. Additional “outlying counties” are included in the MSA if they meet specified requirements of commuting to the central counties and other selected requirements of metropolitan character (such as population density and percent urban). In New England, MSAs are defined in terms of cities and towns rather than counties. For this reason, the concept of NECMA is used to define metropolitan areas in the New England division. millennial generation Americans born between 1997 and 1994. net worth The amount of money left over after a household’s debts are subtracted from its assets. nonfamily household A household maintained by a householder who lives alone or who lives with people to whom he or she is not related. nonfamily householder A householder who lives alone or with nonrelatives. non-Hispanic People who do not identify themselves as Hispanic on the Current Population Survey

are classified as non-Hispanic. Non-Hispanics may be of any race. non-Hispanic white Non-Hispanic whites are people who identified their race as “white alone” and who did not indicate their ethnicity as Hispanic. nonmeans-tested assistance Government benefits received regardless of a person’s or household’s income level. Examples are Social Security and Medicare. nonmetropolitan area Counties that are not classified as metropolitan areas. occupation Occupational classification is based on the kind of work a person did at his or her job during the previous calendar year. If a person changed jobs during the year, the data refer to the occupation of the job held the longest during that year. outside central city The portion of a metropolitan county or counties that falls outside of the central city or cities; generally regarded as the suburbs. part-time Less than 35 hours of work per week in a majority of the weeks worked during the year. percent change The change (either positive or negative) in a measure that is expressed as a proportion of the starting measure. When median income changes from $20,000 to $25,000, for example, this is a 25 percent increase. percentage point change The change (either positive or negative) in a value which is already expressed as a percentage. When a labor force participation rate changes from 70 percent of 75 percent, for example, this is a 5 percentage point increase. poverty level The official income threshold below which families and people are classified as living in poverty. The threshold rises each year with inflation and varies depending on family size, age of householder, and number of children under age 18 in the household. According to the Census Bureau, poverty thresholds in 2002 were: for a person under aged 65 who lives alone, $9,359; for a person aged 65 or older who lives alone, $8,628; for a family of four, $18,392.

AMERICAN INCOMES: Demographics of Who Has Money 385

proportion or share The value of a part expressed as a percentage of the whole. If there are 4 million people aged 25 and 3 million of them are white, then the white proportion is 75 percent.

est thousand without being adjusted to group totals, which are independently rounded; percentages are based on the unrounded numbers. sex ratio The number of men per 100 women.

race Race is self-reported. The figures by race included in this book are for the “race alone or in combination” populations, which include both those who identified themselves as the race alone and those who identified themselves as the race in combination with one or more other races. The only exception is the non-Hispanic white population, which includes only those identifying themselves as white alone and not Hispanic. regions The four major regions and nine census divisions of the United States are the state groupings as shown below: Northeast: —New England: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont —Middle Atlantic: New Jersey, New York, and Pennsylvania Midwest: —East North Central: Illinois, Indiana, Michigan, Ohio, and Wisconsin —West North Central: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota South: —South Atlantic: Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and West Virginia —East South Central: Alabama, Kentucky, Mississippi, and Tennessee —West South Central: Arkansas, Louisiana, Oklahoma, and Texas West: —Mountain: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming —Pacific: Alaska, California, Hawaii, Oregon, and Washington rounding Percentages are rounded to the nearest tenth of a percent; therefore, the percentages in a distribution do not always add exactly to 100.0 percent. The totals, however, are always shown as 100.0. Moreover, individual figures are rounded to the near-

386

AMERICAN INCOMES: Demographics of Who Has Money

suburbs See Outside central city. Survey of Consumer Finances The Survey of Consumer Finances is a triennial survey taken by the Federal Reserve Board. It collects data on the assets, debts, and net worth of American households. For the 2001 survey, the Federal Reserve Board interviewed a representative sample of 2,917 households and a supplemental sample of 1,532 wealthy households based on tax-return data. unemployed Unemployed people are those who, during the survey period, had no employment but were available and looking for work. Those who were laid off from their jobs and were waiting to be recalled are also classified as unemployed. work experience Work experience is based on work for pay or work without pay on a family-operated farm or business at any time during the previous year, on a part-time or full-time basis.

Index administrative support occupations: men’s median earnings, 151, 189 women’s median earnings, 213, 255 Alabama: median household income, 35, 132 people below poverty level, 324, 369 Alaska: median household income, 35, 131-132 people below poverty level, 324, 369 alimony: source of men’s income, 191-195 source of women’s income, 257-261 American Indian, discretionary income of households, 271-272 architects, men’s median earnings, 188 Arizona: median household income, 35, 132 people below poverty level, 324, 369 Arkansas: median household income, 34-35, 131-132 people below poverty level, 323-324, 368-369 armed forces, men’s median earnings, 151, 189 arts occupations: men’s median earnings, 188 women’s median earnings, 254 Asian-American females: earnings of by education, 248-249 by work status, 235, 237 full-time workers, 208-209, 235, 237, 248-249 historical, 208-209 part-time workers, 237 family heads in poverty, 335, 354, 357-358 income of, 46, 64, 102, 104 in poverty by age, 340, 342, 350, 376 by sex, 340, 342, 350, 376 by work status, 376 income of by age, 222 by region, 227, 229 by source, 256, 258 full-time workers, 220, 222, 226-227, 229 historical, 202-203 living alone, income of, 46, 76 percent working full-time, 220 by age, 222, 226 by region, 229 sources of income, 256, 258

Asian-American households: discretionary income of, 271-272 distribution by income, historical, 10, 12 distribution by/within income quintile, 39, 41 high income, 38, 43 in poverty, 333-336, 338-339 income by age, 50, 52, 56, 58, 64, 70, 76, 82 income by education, 114, 116 income by number of earners, 86, 88 income by region, 126-130 income of female-headed families, 46, 64, 102, 104 income of male-headed families, 46, 68, 70, 108, 110 income of married couples, 44, 46, 56, 58, 92, 94 income of men living alone, 46, 80, 82 income of women living alone, 46, 76 median income, historical, 20-21 Asian-American males: earnings of by education, 182-183 by work status, 169, 171 full-time workers, 146-147, 169, 171, 182-183 historical, 146-147 part-time workers, 171 family heads in poverty, 336, 357-358 income of, 46, 68, 70, 108, 110 in poverty by age, 342, 350, 376 by sex, 342, 350, 376 by work status, 376 income of by age, 156 by region, 161, 163 by source, 190, 192 full-time workers, 156, 160-161, 163 historical, 140-141 living alone, income of, 46, 80, 82 percent working full-time, 160 by age, 156 by region, 163 sources of income, 190, 192 Asian Americans in poverty: by age, 340, 342, 347-348, 350, 357-358, 376 by family type, 354, 357-358 by metropolitan residence, 338-339 by region, 338-339, 365, 367 by sex, 340, 342, 350, 376 by work status, 333-336, 374, 376 historical, 317-319

AMERICAN INCOMES: Demographics of Who Has Money 387

Asian Americans participating in antipoverty programs, 340, 342 assets: financial, 282-288 nonfinancial, 289-292 associate’s degree. See Educational Attainment auto mechanics, men’s median earnings, 189 bachelor’s degree. See Educational Attainment. Black American females: earnings of by education, 248, 250 by work status, 235, 238 full-time workers, 208-209, 235, 238, 248, 250 historical, 208-209 part-time workers, 238 family heads in poverty, 302, 304, 307, 309, 335, 359-360 income of, 44, 47, 62, 65, 102, 105 in poverty by age, 340, 343, 351, 377 by sex, 340, 343, 351, 377 by work status, 377 income of by age, 223, by region, 227, 230 by source, 256, 259 full-time workers, 220, 223, 226-227, 230 historical, 202-203 living alone, income of, 47, 74, 77 percent working full-time, 220 by age, 223, 226 by region, 230 sources of income, 256, 259 Black American households: debt of, 293-296 discretionary income of, 271-272 distribution by income, historical, 10, 13 distribution by/within income quintile, 39, 41 financial assets of, 283-285, 287 high income, 38, 43 in poverty, 302, 304, 307, 309, 332-339 income by age, 50, 53, 56, 59, 62, 65, 71, 77, 83 income by education, 114, 117 income by number of earners, 86, 89 income by region, 126-130 income of female-headed families, 44, 47, 62, 65, 102, 105 income of male-headed families, 47, 68, 71, 108, 111 income of married couples, 44, 47, 56, 59, 92, 95 income of men living alone, 47, 80, 83 income of women living alone, 47, 74, 77 median income, historical, 20-21 net worth of, 280-281 nonfinancial assets of, 290-292 388 AMERICAN INCOMES: Demographics of Who Has Money

Black American males: earnings of by education, 182, 184 by work status, 169, 172 full-time workers, 146-147, 169, 172, 182, 184 historical, 146-147 part-time workers, 172 family heads in poverty, 304, 309, 336, 359-360 income of, 47, 68, 71, 108, 111 in poverty by age, 343, 351, 377 by sex, 343, 351, 377 by work status, 377 income of by age, 157 by region, 161, 164 by source, 190, 193 full-time workers, 157, 160-161, 164 historical, 140-141 living alone, income of, 47, 80, 83 percent working full-time, 160 by age, 157 by region, 164 sources of income, 190, 193 Black Americans in poverty: by age, 340, 343, 346-348, 351, 359-360, 377 by family type, 354, 359-360 by metropolitan residence, 337-339 by region, 337-339, 365, 367 by sex, 340, 343, 351, 377 by work status, 332-336, 374, 377 historical, 302, 304, 307, 309, 317-319 Black Americans participating in antipoverty programs, 340, 343 bonds, households owning, 284-285 Boston metropolitan area, poverty in, 373 buildings and grounds maintenance occupations: men’s median earnings, 189 women’s median earnings, 253, 255 business (as nonfinancial asset), households owning, 289, 291-292 California: median household income, 35, 131-132 people below poverty level, 323-324, 368-369 carpenters, men’s median earnings, 189 cashiers: men’s median earnings, 187, 189 women’s median earnings, 255 CDs (Certificates of Deposit), households owning, 284-285 central cities: families below poverty level in, 337-339 household income in, 133-134

men’s income in, 167-168 people below poverty level in, 326-327, 371-373 women’s income in, 233-234 chefs and cooks: men’s median earnings, 188 women’s median earnings, 253, 255 Chicago metropolitan area, poverty in, 373 chief executives: men’s median earnings, 187-188 women’s median earnings, 253-254 child support: source of men’s income, 191-195 source of women’s income, 256-261 college degree. See Educational Attainment. Colorado: median household income, 35, 132 people below poverty level, 324, 369 computer scientists: men’s median earnings, 187-188 women’s median earnings, 254 Connecticut: median household income, 35, 131-132 people below poverty level, 324, 369 construction: men’s median earnings, 189 women’s median earnings, 255 credit card debt, of households, 293, 295-296 Dallas metropolitan area, poverty in, 373 debt, household, 289-292 Delaware: median household income, 35, 131-132 people below poverty level, 324 , 369 Detroit metropolitan area, poverty in, 373 disability, as reason poor did not work, 380-381 disability benefits: source of men’s income, 191-195 source of women’s income, 257-261 discretionary household income: by age of householder, 267-268 by educational attainment, 275-276 by household income, 265-266 by race and Hispanic origin, 271-272 by region, 273-274 by size of household, 277-278 by type of household, 269-270 definition of, 263-264 District of Columbia: median household income, 35, 132 people below poverty level, 324, 369 dividends: source of men’s income, 190-195 source of women’s income, 256-261 doctoral degree. See Educational Attainment.

doctors: men’s median earnings, 187-188 women’s median earnings, 253-254 drafters: men’s median earnings, 188 women’s median earnings, 254 dual-earner couples. See Households, MarriedCouple. earners: household income by, 86-91 number per household income quintile, 38, 40, 42 poverty rate by number of, 332-336 earnings: source of men’s income, 190-195 source of women’s income, 256-261 East North Central division, household income in, 123 East South Central division, household income in, 120, 124 education benefits: source of men’s income, 191-195 source of women’s income, 256-261 educational attainment: debt of households by, 293-296 discretionary household income by, 275-276 earnings by race and Hispanic origin, 182-186, 248-252 earnings of men by, 148-149, 175-186 earnings of women by, 210-211, 241-252 financial assets of households by, 282-288 household income by, 22-23 net worth of households by, 280-281 nonfinancial assets of households by, 290-292 stock ownership of households by, 286-288 electricians, men’s median earnings, 187, 189 engineers: men’s median earnings, 187-188 women’s median earnings, 253-254 executive, administrative, and managerial occupations: men’s median earnings, 150-151, 187-188 women’s median earnings, 212-213, 253-254 families. See Households. family, as reason poor did not work, 380-381 farming, forestry, and fishing occupations: men’s median earnings, 150-151, 187, 189 women’s median earnings, 212-213, 255 females: earnings of as percent of men’s earnings, 214-215 by age, 241-247 by education, 210-211, 241-252 by occupation, 212-213, 253-255

AMERICAN INCOMES: Demographics of Who Has Money 389

by race and Hispanic origin, 208-209, 235-240, 248-252 by work status, 206-207, 235-240 full-time workers, 206-215, 235-255 historical, 208-217 part-time workers, 206-207, 235-240 family heads distribution by/within income quintile, 38-39, 41 in poverty, 300-311, 332, 335 income of, 18-19, 28-29, 44-49, 62-67, 102-107 in poverty by age, 340-345, 349-353, 380-381 by race/Hispanic origin, 340-345, 349-353, 375-379 by reason for not working, 380-381 by work status, 375-381 historical, 312-313 income of by age, 200-201, 220-225 by metropolitan status, 233-234 by race and Hispanic origin, 202-203, 220-232, 256-261 by region, 204-205, 227-232 by source, 256-261 full-time workers, 220-234 historical, 200-205 living alone distribution by/within income quintile, 39, 41 income of, 18-19, 44-49, 74-79 percent participating in antipoverty programs, 340-345 percent working full-time by age, 220-226 by metropolitan status, 233-234 by race/Hispanic origin, 220-226 by region, 227-232 sources of income, 256-261 wives earning more than husbands, 216-217 financial assets, 279, 282-288 firefighters, men’s median earnings, 187-188 Florida: median household income, 35, 132 people below poverty level, 324, 368-369 food preparation workers: men’s median earnings, 187-188 women’s median earnings, 253-255 food stamps, people in households receiving, 340-345 full-time workers: below poverty level, 329-330, 332-336, 374-379 distribution by/within income quintile, 40, 42 earnings of, 144-149, 169-189, 206-215, 235-255 husbands and wives, 98, 100 income of, 154-168, 220-234

390 AMERICAN INCOMES: Demographics of Who Has Money

Georgia: median household income, 35, 132 people below poverty level, 323-324, 369 Hawaii: median household income, 34-35, 132 people below poverty level, 324, 369 health care practitioner occupations: men’s median earnings, 188 women’s median earnings, 253-254 health care support occupations: men’s median earnings, 150-151, 187-188 women’s median earnings, 212-213, 255 Hispanic American females: earnings of by education, 248, 251 by work status, 235, 239 full-time workers, 208-209, 235, 239, 248, 251 historical, 208-209 part-time workers, 239 family heads in poverty, 302, 305, 307, 310, 332, 335, 361-362 income of, 48, 66, 102, 106 in poverty by age, 340, 344, 352, 378 by sex, 340, 344, 352, 378 by work status, 378 income of by age, 224 by region, 227, 231 by source, 256, 260 full-time workers, 220, 224, 226-227, 231 historical, 202-203 living alone, income of, 48, 74, 78 percent working full-time, 220 by age, 224, 226 by region, 231 sources of income, 256, 260 Hispanic American households: debt of, 293-296 discretionary income of, 271-272 distribution by income, historical, 10, 14 distribution by/within income quintile, 39, 41 financial assets of, 283-285, 287 high income, 38, 43 in poverty, 302, 305, 307, 310, 332-339 income by age, 50, 54, 56, 60, 66, 72, 78, 84 income by education, 114, 118 income by number of earners, 86, 90 income by region, 126-130 income of female-headed families, 48, 66, 102, 106 income of male-headed families, 48, 68, 72, 108, 112 income of married couples, 44, 48, 56, 60, 92, 96 income of men living alone, 48, 80, 84

income of women living alone, 48, 74, 78 median income, historical, 20-21 net worth of, 280-281 nonfinancial assets of, 290-292 Hispanic American males: earnings of by education, 182, 185 by work status, 169, 173 full-time workers, 146-147, 169, 173, 182, 185 historical, 146-147 part-time workers, 173 family heads in poverty, 305, 310, 336, 361-362 income of, 48, 68, 72, 108, 112 in poverty by age, 344, 352, 378 by sex, 344, 352, 378 by work status, 378 income of by age, 158 by region, 161, 165 by source, 190, 194 full-time workers, 158, 160-161, 165 historical, 140-141 living alone, income of, 48, 80, 84 percent working full-time, 160 by age, 158 by region, 165 sources of income, 190, 194 Hispanic Americans in poverty: by age, 340, 344, 346-348, 352, 361-362, 378 by family type, 354, 361-362 by metropolitan residence, 337-339 by region, 337-339, 365, 367 by sex, 340, 344, 352, 378 by work status, 332-336, 374, 378 historical, 302, 305, 307, 310, 317-319 Hispanic Americans participating in antipoverty programs, 340, 344 homes: as component of net worth, 279-280, 289 households owning, 289, 291 median value, 289, 292 household income: aggregated by quintiles, 8-9 by age of children, 92-113 by age of householder, 16-17, 38-39, 41, 50-85 by census division, 120, 122-125 by education of householder, 22-23, 114-119 by household type, 18-19, 28-31, 38-39, 41, 44-49, 56-85, 92-113 by metropolitan residence, 133-134 by number of earners, 26-27, 30-31, 38, 40, 42, 86-91, 98-101 by presence of children, 28-29, 92-113

by race and Hispanic origin of householder, 10-15, 20-21, 38-39, 41, 43-49, 50-97, 102-119, 126-130 by region, 32-33, 120-130 by size of household, 24-25 by state, 34-36, 131-132 by work experience, 40, 42, 98-101 debt by percentile, 293-296 discretionary income by, 265-266 distribution by income, historical, 10-15 distribution by/within quintile, 38-42 financial assets by percentile, 283-285, 287-288 historical, 8-36 net worth by percentile, 280-281 nonfinancial assets by percentile, 289-292 stock ownership by percentile, 287-288 households, female-headed: distribution by/within income quintile, 38-39, 41 income by age of children, 102-107 income by age of householder, 62-67, 74-79 income by presence of children, 28-29, 102-107 income by race and Hispanic origin, 44-49, 62-67, 74-79, 102-107 median income, historical, 18-19, 28-29 in poverty, 300-311, 332, 335, 354-364 households, male-headed: distribution by/within income quintile, 39, 41 income by age of children, 108-113 income by age of householder, 68-73, 80-85 income by presence of children, 28-29, 108-113 income by race and Hispanic origin, 44-49, 68-73, 80-85, 108-113 median income, historical, 18-19, 28-29 in poverty, 300-301, 303-306, 308-311, 336, 354-364 households, married-couple: discretionary income of, 269-270 distribution by/within income quintile, 38-39, 41 dual-earner, 30-31, 98-100, 216-217 income by age of householder, 56-61 income by age of children, 92-101 income by presence of children, 28-29, 92-101 income by race and Hispanic origin, 44-49, 56-61, 92-97 median income, historical, 18-19, 28-31 in poverty, 300-311, 332, 334, 354-364 single-earner, 30-31, 98, 101 wives earning more than husbands, 216-217 households, single-earner: distribution by/within income quintile, 38, 40, 42 in poverty, 332-336 income distribution of, 86-91 median income of, historical, 26-27 households, single-parent, discretionary income of, 269-270 households, single-person: discretionary income of, 269-270, 277-278 AMERICAN INCOMES: Demographics of Who Has Money 391

distribution by/within income quintile, 39, 41 income by age of householder, 74-85 income by race and Hispanic origin, 44-49, 74-85 median income, historical, 18-19, 24-25 households, two-earner: distribution by/within income quintile, 38, 40, 42 in poverty, 332-336 income distribution of, 86-91 median income of, historical, 26-27 housing, subsidized, percent in households receiving, 340-345 Houston metropolitan area, poverty in, 371, 373 Idaho: median household income, 35, 132 people below poverty level, 323-324, 369 Illinois: median household income, 34-35, 132 people below poverty level, 324, 368-369 Indiana: median household income, 35, 132 people below poverty level, 324, 369 installment debt, of households, 293, 295-296 insurance agents: men’s median earnings, 189 women’s median earnings, 255 interest income: source of men’s income, 190-195 source of women’s income, 256-261 Iowa: median household income, 35, 132 people below poverty level, 324, 369 Kansas: median household income, 35, 132 people below poverty level, 324, 369 Kentucky: median household income, 34-35, 132 people below poverty level, 324, 369 lawyers and judges: men’s median earnings, 187-188 women’s median earnings, 253-254 librarians: men’s median earnings, 188 women’s median earnings, 253-254 life insurance, owned by households, 284-285 Los Angeles metropolitan area, poverty in, 373 Louisiana: median household income, 35, 131-132 people below poverty level, 324, 369 Maine: median household income, 35, 132 people below poverty level, 324, 369 392 AMERICAN INCOMES: Demographics of Who Has Money

males: earnings of by age, 175-181 by education, 148-149, 175-186 by occupation, 150-151, 187-189 by race/Hispanic origin, 146-147, 169-174, 182-186 by work status, 144-145, 169-174 full-time workers, 144-149, 169-189, 214-215 historical, 144-151, 214-215 part-time workers, 144-145, 170-174 family heads distribution by/within income quintile, 39, 41 in poverty, 300-301, 303-307, 308-311, 336 income of, 18-19, 28-29, 45-49, 68-73, 108-113 in poverty by age, 340-345, 349-353, 380-381 by race/Hispanic origin, 349-353, 375-379 by reason for not working, 380-381 by work status, 375-381 historical, 300-301, 303-306, 308-311, 312-313 income of by age, 138-139, 154-159 by metropolitan status, 167-168 by race/Hispanic origin, 140-141, 154-160, 190-195 by region, 142-143, 161-166 by source, 190-195 full-time workers, 154-168 historical, 138-143 living alone distribution by/within income quintile, 39, 41 income of, 18-19, 45-49, 80-85 percent participating in antipoverty programs, 340-345 percent working full-time by age, 154-159, 161-166 by metropolitan status, 168 by race/Hispanic origin, 154-166 by region, 162-166 sources of income, 190-195 management, business and financial occupations: men’s median earnings, 150-151, 187-188 women’s median earnings, 212-213, 253-254 Maryland: median household income, 35, 131-132 people below poverty level, 324, 368-369 Massachusetts: median household income, 34-35, 131-132 people below poverty level, 324, 369 master’s degree. See Educational Attainment. means-tested assistance, percent in households receiving, 340-345 mechanics, men’s median earnings, 189 Medicaid, percent in households receiving, 340-345

men. See Males. metropolitan residence: families below poverty level by, 337-339 household income by, 133-134 men’s income by, 167-168 people below poverty level by, 326-328, 371-373 women’s income by, 233-234 Michigan: median household income, 34-35, 132 people below poverty level, 324, 368-369 Middle Atlantic division, household income in, 122 Midwest: discretionary income of households in, 273-274 household income in, 32-33, 120-126, 128 households below poverty level in, 337-339 median household income, historical, 32-33 men’s income in, 142-143, 161-166 people below poverty level in, 320-322, 365-367 women’s income in, 204-205, 227-232 Minnesota: median household income, 34-35, 131-132 people below poverty level, 324, 368-369 Mississippi: median household income, 34-35, 131-132 people below poverty level, 323-324, 368-369 Missouri: median household income, 35, 132 people below poverty level, 324, 369 Montana: median household income, 35, 131-132 people below poverty level, 323-324, 369 mortgage and home equity debt, of households, 293, 295-296 Mountain division, household income in, 125 mutual funds, owned by households, 284-285 Nebraska: median household income, 35, 132 people below poverty level, 324, 369 net worth of households, 279-281 Nevada: median household income, 35, 132 people below poverty level, 324, 369 New England division, household income in, 120, 122 New Hampshire: median household income, 35, 131-132 people below poverty level, 323-324, 368-369 New Jersey: median household income, 35, 131-132 people below poverty level, 324, 368-369 New Mexico: median household income, 35, 132 people below poverty level, 324, 368-369

New York: median household income, 35, 132 people below poverty level, 324, 368-369 New York metropolitan area, poverty in, 373 nonfinancial assets, 279, 289-292 nonmetropolitan areas: families below poverty level in, 337-339 household income in, 133-134 men’s income by, 167-168 people below poverty level in, 326-328, 371-372 women’s income by, 233-234 nonresidential property (as nonfinancial asset), of households, 289, 291-292 North Carolina: median household income, 35, 132 people below poverty level, 324, 368-369 North Dakota: median household income, 35, 132 people below poverty level, 324, 369 Northeast: discretionary income of households in, 273-274 household income in, 32-33, 120-127 households below poverty level in, 337-339 median household income, historical, 32-33 men’s income in, 142-143, 161-166 people below poverty level in, 320-322, 365-367 women’s income in, 204-205, 227-232 nurses: men’s median earnings, 188 women’s median earnings, 253-254 occupation. See also specific occupational categories. men’s earnings by, 150-151, 187-189 women’s earnings by, 212-213, 253-255 Ohio: median household income, 35, 132 people below poverty level, 323-324, 368-369 Oklahoma: median household income, 34-35, 132 people below poverty level, 323-324, 369 operators, fabricators and laborers: men’s median earnings, 150-151 women’s median earnings, 212-213 Oregon: median household income, 35, 132 people below poverty level, 324, 369 Pacific division, household income in, 120, 125 part-time workers, distribution by/within income quintile, 40, 42 earnings, 144-145, 170-174, 206-207, 235-240 Pennsylvania: median household income, 36, 132 people below poverty level, 324, 369

AMERICAN INCOMES: Demographics of Who Has Money 393

personal care occupations: men’s median earnings, 189 women’s median earnings, 255 Philadelphia metropolitan area, poverty in, 371, 373 physicians. See Doctors. police, men’s median earnings, 187-188 postal workers: men’s median earnings, 189 women’s median earnings, 255 poverty: by age, 314-316, 340-366, 371-372, 380-381 by household type, 300-311, 332-336, 354-364 by metropolitan area, 371, 373 by metropolitan residence, 326-328, 337-339, 371-373 by number of earners, 332-336 by presence of children, 307-311, 337, 339 by race and Hispanic origin, 302-311, 317-319, 332-339, 340-365, 367, 374-379 by reason for not working, 380-381 by region, 320-322, 337-339, 365-367 by sex, 312-313, 340-345, 348-353, 374-381 by state, 324-326, 368-370 by work status, 329-330, 332-336, 374-381 historical, 300-330 poverty programs, people in households participating in, 340-345 production occupations: men’s median earnings, 150-151, 189 women’s median earnings, 212-213, 255 professional degree. See Educational Attainment. professional occupations: men’s median earnings, 150-151, 187-188 women’s median earnings, 212-213 protective services occupations: men’s median earnings, 150-151, 187-188 women’s median earnings, 212-213, 255 psychologists and sociologists, women’s median earnings, 253-254 public assistance: percent in households receiving, 340-345 source of men’s income, 191-195 source of women’s income, 257-261 real estate agents: men’s median earnings, 187, 189 women’s median earnings, 255 region. See also Midwest, Northeast, South, West. discretionary income of households by, 273-274 household income by, 32-33, 120-130 households below poverty level by, 337-339 median household income, historical, 32-33 men’s income by, 142-143, 161-166 people below poverty level by, 320-322, 365-367 women’s income by, 204-205, 227-232 394 AMERICAN INCOMES: Demographics of Who Has Money

rents and royalties: source of men’s income, 191-195 source of women’s income, 257-261 residential property: debt, 293, 295-296 nonfinancial asset, 289, 291-292 retirement accounts, 283-285 retirement, as reason poor did not work, 380-381 retirement income: source of men’s income, 190-195 source of women’s income, 256-261 Rhode Island: median household income, 36, 132 people below poverty level, 325, 370 salaries. See Wages and Salaries. sales occupations: men’s median earnings, 150-151, 189 women’s median earnings, 212-213, 255 San Francisco metropolitan area, poverty in, 373 savings bonds, 284-285 science technicians: men’s median earnings, 188 women’s median earnings, 254 self-employment: source of men’s income, 190-195 source of women’s income, 257-261 service occupations: men’s median earnings, 150-151, 188-189 women’s median earnings, 212-213, 253, 255 Social Security: source of men’s income, 190-195 source of women’s income, 256-261 South: discretionary income of households in, 273-274 household income in, 32-33, 120-126, 129 households below poverty level in, 337-339 median household income, historical, 32-33 men’s income in, 142-143, 161-166 people below poverty level in, 320-322, 365-367 women’s income in, 204-205, 227-232 South Atlantic division, household income in, 124 South Carolina: median household income, 36, 132 people below poverty level, 325, 370 South Dakota: median household income, 36, 132 people below poverty level, 323, 325, 370 SSI (Supplemental Security): source of men’s income, 191-195 source of women’s income, 257-261 states: See also specific state names. median household income, 34-36 people below poverty level, 323-325, 368-370 stocks, owned by households, 282, 284-288

suburbs: families below poverty level in, 337-339 household income in, 133-134 men’s income in, 167-168 people below poverty level in, 326-328, 371-372 women’s income in, 233-234 Survey of Consumer Finances, 279-280 survivors benefits: source of men’s income, 191-195 source of women’s income, 257-261 teachers: men’s median earnings, 188 women’s median earnings, 253-254 technical occupations: men’s median earnings, 150-151, 188 women’s median earnings, 212-213, 254 Tennessee: median household income, 36, 132 people below poverty level, 325, 370 Texas: median household income, 36, 132 people below poverty level, 325, 368, 370 transaction accounts, 282, 284-285 transportation and material moving occupations: men’s median earnings, 189 women’s median earnings, 255 unemployment compensation: source of men’s income, 190-195 source of women’s income, 257-261 unrelated individuals, in poverty, 354-364 Utah: median household income, 34, 36, 132 people below poverty level, 325, 370 vehicles (as nonfinancial asset), of households, 289, 291-292 Vermont: median household income, 36, 132 people below poverty level, 323, 325, 370 veterans benefits: source of men’s income, 191-195 source of women’s income, 257-261 Virginia: median household income, 36, 132 people below poverty level, 325, 370 wages and salaries: source of men’s income, 190-195 source of women’s income, 256-261 Washington: median household income, 36, 132 people below poverty level, 325, 370

Washington, D.C. metropolitan area, poverty in, 373 wealth: financial assets, 279, 282-288 net worth, 279-281 nonfinancial assets, 279, 289-292 welfare. See Public Assistance. West: discretionary income of households in, 273-274 household income in, 32-33, 120-126, 130 households below poverty level in, 337-339 median household income, historical, 32-33 men’s income in, 142-143, 161-166 people below poverty level in, 320-322, 365-367 women’s income in, 204-205, 227-232 West North Central division, household income in, 120, 123 West South Central division, household income in, 120, 124 West Virginia: median household income, 36, 131-132 people below poverty level, 325, 370 White American females, non-Hispanic: earnings of by education, 248, 252 by work status, 235, 240 full-time workers, 208-209, 235, 240, 248, 252 historical, 208-209 part-time workers, 240 family heads in poverty, 302, 306, 311, 335, 363-364 income of, 49, 62, 67, 102, 107 in poverty by age, 340, 345, 353, 379 by sex, 340, 345, 353, 379 by work status, 379 income of by age, 225 by region, 227, 232 by source, 256, 261 full-time workers, 220, 225-227, 232 historical, 202-203 living alone, income of, 49, 79 percent working full-time, 220 by age, 225-226 by region, 232 sources of income, 256, 261 White American households, discretionary income of, 271-272 White American households, non-Hispanic: debt of, 293-296 distribution by income, historical, 10, 15 distribution by/within income quintile, 39, 41 financial assets of, 283-285, 287 high income, 43 in poverty, 302, 306, 311, 332-339 AMERICAN INCOMES: Demographics of Who Has Money 395

income by age, 50, 55-56, 61-62, 67, 73, 79, 85 income by education, 114, 119 income by number of earners, 86, 91 income by region, 126-130 income of female-headed families, 49, 62, 67, 102, 107 income of male-headed families, 49, 68, 73, 108, 113 income of married couples, 44, 49, 56, 61, 92, 97 income of men living alone, 49, 80, 85 income of women living alone, 49, 79 median income, historical, 20-21 net worth of, 280-281 nonfinancial assets of, 290-292 White American males, non-Hispanic: earnings of by education, 182, 186 by work status, 169, 174 full-time workers, 146-147, 169, 174, 182, 186 historical, 146-147 part-time workers, 174 family heads in poverty, 306, 311, 336, 363-364 income of, 49, 68, 73, 108, 113 in poverty by age, 345, 353, 379 by sex, 345, 353, 379 by work status, 379 income of by age, 159 by region, 161, 166 by source, 190, 195 full-time workers, 159-161, 166 historical, 140-141 living alone, income of, 49, 80, 85 percent working full-time, 160 by age, 159 by region, 166 sources of income, 190, 195 White Americans, non-Hispanic, in poverty: by age, 340, 345-348, 353, 363-364, 379 by family type, 354, 363-364 by metropolitan residence, 337-339 by region, 337-339, 365, 367 by sex, 340, 345, 353, 379 by work status, 332-336, 374, 379 historical, 302, 306, 311 White Americans, non-Hispanic, participating in antipoverty programs, 340, 345 Wisconsin: median household income, 36, 132 people below poverty level, 325, 370 wives earning more than husbands, 216-217 women. See Females.

396 AMERICAN INCOMES: Demographics of Who Has Money

work experience, 40, 42, 144-145, 169-174, 206-207, 235-240, 329-330, 332-336, 374-381 workers below poverty level, 329-330, 332-336, 374-379 workers’ compensation: source of men’s income, 191-195 source of women’s income, 257-261 Wyoming: median household income, 36, 132 people below poverty level, 323, 325, 370