Feeling Wealthier? Not Likely

Average American Family Income Declines
By Jesus Sanchez, Times Staff Writer

Between 2001 and 2003, the average family income after taxes fell 2.3% to $70,700 a year. In contrast, average income shot up 17.3% in the previous three-year period.

Meanwhile, median family wealth grew 1.5% during 2001-2004, compared to the 10.3% jump in the previous three-year period.

The "measured gains in wealth in 2001-04 period pale in comparison with the much larger increase in the preceding three years," the report said.