Median Household Income Dropped 4 Percent Since The End Of The Great Recession: Report

[OhioChick]

Source: Huffington Post

Posted: 08/22/2013 7:43 am EDT

WASHINGTON — The average American household is earning less than when the Great Recession ended four years ago, according to a report released Wednesday.

U.S. median household income, once adjusted for inflation, has fallen 4.4 percent in that time, according to the report from Sentier Research. The report is based on an analysis of Census Bureau data.

The median, or midpoint, income in June 2013 was $52,098. That's down from $54,478 in June 2009, when the recession officially ended. And it's below the $55,480 that the median household took in when the recession began in December 2007.

The report says nearly every group is worse off than four years ago, except for those 65 to 74. Some groups have experienced larger-than-average declines, including blacks, young and upper-middle-aged people and the unemployed.



Read more: http://www.huffingtonpost.com/2013/08/22/median-household-income-dropped_n_3794191.html?ref=topbar

[bemildred]

1. Great "recovery", eh? nt

[jtuck004]

2. Just one speech away from goodness, eh? n/t

[juajen]

6. The struggles of young people today are a photo of how well

the country, as a whole, is doing. My very educated children struggle to make a living that even permits a vacation of modest cost, let alone necessities of life, like food and shelter and transportation.

It would help if giving ss recipients a substantial raise could be effected. I have friends, who are on ss who are always giving part of it away to help their children, even though ss in no way is keeping up with inflation. This means there is a drain on the economy, as almost every penny of ss goes back into the economy.

Our ss money has been borrowed to our detriment. All you hear from Republicans is cut "entitlements". We need to start demanding a true cost of living raise for ss and a large minimum wage increase. So many of us are tired. By the time you reach 70, you are grateful that you survived so many bad times and exhaustion just sets in. You just can't fight any more. As we give and give to our children, our children need to start fighting for us.

[bahrbearian]

3. Take away the advances of the 1 to 4 percent of the welthy and its probably more than 10%

[Yo_Mama]

9. They are using the median

Which excludes the wealthy.

But down 6% from the start of the recession! That's really bad.

I don't even think the 4% since the end of the recession takes into account the FICA tax increase this year

[NickB79]

4. Kick

This thread will probably drop like a rock, though; a lot of DU'ers here have too much invested in the myth of "recovery" to acknowledge this.

[Uncle Joe]

5. Kicked and recommended.

Thanks for the thread, OhioChick.

[Rebellious Republican]

7. The recession ended?

News to me.

[theHandpuppet]

8. Workers in this country are reaching the breaking point

And when they finally do, it ain't gonna be pretty.

[leftyladyfrommo]

10. My income dropped more like 50%.

Lost my job in mortgage lending and was too old to find anything else that paid anywhere near as much.

But I'm getting along. I spend so many years being poor when I was younger that I'm pretty good at it.