Word: medians
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...recessions of the '70s and early '80s. "They grew up with the expectation that they would live better than their parents no matter what they did," says Michel. "The 1970s ended that. It was a time of tremendous economic disillusionment for many people." Between 1973 and 1983 the median real income of a typical young family headed by a person ages 25 to 34 fell by 11.5%. In the 1970s, for the first time in history, the economic value of a college degree declined. An awful lot of physics majors found themelves driving cabs...
...there are as well an increasing number of unwed black mothers in the Baby Boom generation who must support their children on a pittance. "When you talk about two-parent families," says Frank Levy of the Urban Institute, "blacks have made gains in closing the gap on whites." The median income for a black family headed by a married couple ages 35 to 44 was $29,908 in 1983, not far behind the $35,600 average for whites. But the 43% of black households headed by women ages 35 to 44 earned an average of only...
...swelling demand is pushing up prices in many places. The median price of existing homes jumped $2,600 in March, to $80,000, up 7.2% from the same month last year. The steepest increase came in the Northeast, where the median price hit $101,300, a 16.7% rise over 1985. Prices are falling in depressed regions like the oil patch. In the Houston area, the median home price dipped about 12% during the past year. One reason: home foreclosures in Houston have reached their highest level in 20 years...
...that patients need the right to sue because medical societies rarely drive out low-quality practitioners. If doctors cry that between 1980 and 1984 the average malpractice award jumped 63%, to $660,123, lawyers may retort that half of all awards made in that period were below an unchanging median sum of $200,000. The average annual charge for malpractice insurance coverage may have increased 79% between 1976 and 1984, but doctors' total income went up 89% at the same time...
...ratio of women to men for the current academic year is three-to-two. Seventy-seven percent of the program's students, whose median age is 29, have already earned college degrees...