Household Income Slumps to 1996 Levels: Ouch!

The income of the typical American family has dropped for the 3rd year in a row and is now roughly where it was in 1996 when adjusted for inflation.

The income of a household considered to be at the statistical middle fell -2.3% to an inflation-adjusted $49,445 in 2010, which is -7.1% below its 1999 peak, the Census Bureau said.