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Average Income of Families Up Slightly in 1960 (Advance data from March 1961 sample survey)
Average Income of Families Up Slightly in 1960 (Advance data from March 1961 sample survey)
Report Number P60-36
The average (median) money income of families in the United States was $5,600 in 1960, according to estimates released today by the Bureau of the Census, Department of Commerce. This was about $200, or 4 percent, higher than in 1959, despite the downturn in economic activity in the closing months of 1960. However, the gain in real purchasing power between 1959 and 1960 was only about 2 percent, since prices also rose during this period.1
About 10 million families, or 22 percent of the 45 1/2 million families in the Nation, received money incomes under $3,000 in 1960. This number did not differ appreciably from the number of families in that income range a year earlier. Another 9 million, or 20 percent, received incomes between $3,000 and $5,000 last year; and almost 11 million, or 24 percent, had incomes between $5,000 and $7,000. The remaining 15 1/2 million families, or 34 percent, reported incomes of $7,000 or more.
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1 The Consumer Price Index of the Department of Labor averaged 124.6 in 1959 and 126.5 in 1960.
A Note on Language
Census statistics date back to 1790 and reflect the growth and change of the United States. Past census reports contain some terms that today’s readers may consider obsolete and inappropriate. As part of our goal to be open and transparent with the public, we are improving access to all Census Bureau original publications and statistics, which serve as a guide to the nation's history.
Others in Series
Publication
Income of Persons and Families at Record High in 1959 (Advance data)
Distribution of persons 14 years of age and over by total money income, by sex; and distribution of families by total money income, 1947 and 1958 to 1959.
Publication
Income of Families and Persons in the United States: 1959
Distribution of families and unrelated individuals by total money income, by color, type of family, age, size of family, number of earners, and type of income.
Publication
Income of Families and Persons in the United States: 1960
Distribution of families and unrelated individuals by total money income, by color, type of family, age, size of family, number of earners, and type of income.
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Page Last Revised - October 8, 2021
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