According to the Federal Reserve Board’s Survey of Consumer...

According to the Federal Reserve Board’s Survey of Consumer Finances over the 2001–04 period, the median value of real (inflation-adjusted) family income before taxes rose 1.6 percent, while the mean value fell 2.3 percent. These results stand in contrast to the strong and broad gains seen for the period between the 1998 and 2001 surveys and to the smaller but similarly broad gains between the 1995 and 1998 surveys. In short, this was a recovery unlike any other. A Few charts should prove it:Income 1995 vs. 2004Income 2001 vs. 2004 by age groupNot only has mean real income fallen, it has fallen disproportionately on those aged 44 and under. Median income has also fallen for those aged 44 and under even though it has risen slightly across all age groups. Net Worth 1995 vs. 2004Net Worth 1995 vs. 2004 (click on chart for better view)Net worth in the period 1995-1998 and 1991-2001 dramatically outpaced the rise from 2001-2004. Those in the 35-44 age group have less real net worth than the same age group did in 1998. That is negative real net worth over a 6 year period for a group of wage earners that should be nearing their peak earning years. The Federal Reserve Report explains this complex set of statistics by three factors:

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