Median Income 6% Below Its 2007 Level
Posted in the Brattleboro Forum
#1 Aug 21, 2013
U.S. Median Income Rises, but Is Still 6% Below Its 2007 Level
By ROBERT PEAR
Published: August 21, 2013
Median household income has begun to recover over the last two years, but households still have not come close to regaining the purchasing power they had before the financial crisis began, a new study says.
The study, issued on Wednesday by two former Census Bureau officials, suggests why many people remain glum even though the economy is growing and unemployment has declined.
Although inflation-adjusted median annual household income rose to $52,100 in June, from its recent trough of $50,700 in August 2011, it remained $2,400 lower a 4.4 percent decline than in June 2009, when the recession ended. This drop, combined with the 1.8 percent decline that occurred during the recession, leaves median household income 6.1 percent or $3,400 below its level in December 2007, when the economic slump began.
#2 Aug 21, 2013
Households headed by people with only a high school diploma have seen their post-recession income decline by 9.3 percent, to $39,300 in June of this year, the report said. For households headed by people with an associate degree, median income declined by 8.6 percent in those four years, to $56,400. And among households headed by people with a bachelors degree or more, median income declined by 6.5 percent, to $84,700.
Since the end of the recession, the report said, income has declined by 3.6 percent for non-Hispanic white households, to $58,000, and by 4.5 percent for Hispanic households, to $40,979. Those changes were smaller than the 10.9 percent decline, to $33,500, for non-Hispanic black households, whose economic problems are likely to be a focus when Mr. Obama speaks next week on the 50th anniversary of the March on Washington.
#3 Aug 21, 2013
But more importantly, how many cable channels do they get?
#4 Aug 21, 2013
I could grab all the channels for free off the air...not $100 to $200 like today.
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