Marketwatch: The typical household makes less than it did before the recession
The typical American household, six years after the Great Recession, is still worse off, according to a report released Wednesday.
The Census Bureau reported that median household income was $53,657 in 2014. That’s less than the 2013 median of $54,462, but not statistically different. What is of significance is that, when adjusted for inflation, the median household generated 6.5% less than they did in 2007, the year before the recession.
The declining living standards of the average American goes some way to explain why outsiders like Donald Trump and Ben Carson on the right, and Sen. Bernie Sanders on the left, are shooting up the polls for the presidential nomination.
Monthly statistics produced by Sentier Research shows a somewhat better picture — by their numbers, the median household income in July was $55,218, though that’s still 2.6% lower than when the recession started and 3.8% below January 2000 levels.
The Census Bureau report also says that households with lower levels of education were more likely to remain in or move into a lower quintile than households with higher levels of education.
Women still earned 79 cents on the dollar compared with men, the latest report shows.
<snip>
http://www.marketwatch.com/story/the-typical-household-makes-less-than-it-did-before-the-recession-2015-09-16