Average American Family Income Declines

By MARTIN CRUTSINGER, AP Economics Writer
2 hours, 11 minutes ago

After the booming 1990s when incomes and stock prices were soaring, this decade has been less of a thrill ride for most American families.

Average incomes after adjusting for inflation actually fell from 2001 to 2004, and the growth in net worth was the weakest in a decade, the Federal Reserve reported Thursday.

Many families were struggling in the aftermath of the 2001 recession and the bursting of the stock market bubble in 2000, the Fed's latest "Survey of Consumer Finances" showed. The comprehensive look at household balance sheets comes every three years.