Real median family income in 1982 was lower for the. third consecutive year. The decline was significantly less than in the two previous years, however, according to results of the March 1983 Current Population Survey (CPS) conducted by the Bureau of the Census. In 1982, the median family income was $23,430, an increase of 4.7 percent before adjusting for the 6.1-percent increase in consumer prices.¹ After adjustment, however, median family income declined by 1.4 percent. This decline was significantly less than either the 1980-81 decline of 3.5 percent or the 1979-80 decline of 5.5 percent.

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¹ Changes in real income refer to comparisons after adjusting for inflation. The percentage change in prices between 1981 and 1982 was computed by dividing the annual average Consumer Price Index (CPI) for 1982 by the annual average value of the CPI for 1981. See table A-1 of appendix A for CPI's from 1947 to 1982.