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Money Income and Poverty Status of Families and Persons in the United States: 1974 (Advance report)
Money Income and Poverty Status of Families and Persons in the United States: 1974 (Advance report)
Report Number P60-99
Introduction
The median income of all families in the United States was $12,840 in 1974, according to results of the Current Population Survey (CPS) which was conducted in March 1975 by the Bureau of the Census. This figure represented an increase of about 7 percent over the 1973 median family income. However, after adjusting for the 11 percent increase in prices between 1973 and 1974,1 the 1974 median in terms of constant dollars decreased by about 4 percent below the 1973 median. The survey also showed that there were about 24.3 million persons below the poverty level in 1974 ($5,038 for a nonfarm family of four) comprising 12 percent of the U.S. population.2 Overall, the poverty population was 1.3 million or 5.6 percent higher than the 1973 figure.
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1 The percentage increase in prices between 1973 and 1974 is computed by dividing the annual average Consumer Price Index (CPI) for 1974 by the annual average value of the Index for 1973.
2 See page 3 for an explanation of the poverty definition.
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
Household Income in 1973 & Selected Social & Economic Characteristics
This report presents statistics on household money income and selected social and economic characteristics of households for the United States in 1973.
Publication
Money Income in 1973 of Families and Persons in the United States
Presents statistics on money income in 1973 of families and persons in the United States, based on the March 1974 Current Population Survey.
Publication
Characteristics of the Low-Income Population: 1973
This report presents detailed social and economic statistics for the population below the low-income level in 1973. The rate was 11.0% vs 12.0% in 1972.
Others in Series
Publication
Household Income in 1973 & Selected Social & Economic Characteristics
This report presents statistics on household money income and selected social and economic characteristics of households for the United States in 1973.
Publication
Money Income in 1973 of Families and Persons in the United States
Presents statistics on money income in 1973 of families and persons in the United States, based on the March 1974 Current Population Survey.
Publication
Characteristics of the Low-Income Population: 1973
This report presents detailed social and economic statistics for the population below the low-income level in 1973. The rate was 11.0% vs 12.0% in 1972.
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Page Last Revised - October 8, 2021
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