Reflecting the resurgence of the economy, median family money income of the 54.4 million families in the United States climbed to $11,120 in 1972, an increase of 8.1 percent over the 1971 median family income of $10,290. Even after adjusting for increases in consumer prices, the estimated net gain in family purchasing power was still significant. The 1972 median family income rose approximately 4.6 percent over the 1971 median income in terms of 1972 constant dollars.
For families with heads who were year-round full-time workers, the median family income in 1972 was up by 8.7 percent over the 1971 median (in current dollars). These families, comprising about 64 percent of the 53.5 million families with civilian heads, had a 1972 median income of $13,520.
Both the increase in the number of families and in money income between 1971 and 1972 contributed to a solid advance in aggregate family income. Aggregate family money income increased by 11.2 percent between 1971 and 1972, stemming from a 2.0 percent increase in the number of families (1.1 million net additional families) and a 9.0 percent increase in average (mean) family income.
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