REAL WORLD EVENT DISCUSSIONS

WHAT "recovery"?

POSTED BY: SIGNYM
UPDATED: Sunday, October 16, 2011 05:33
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Saturday, October 15, 2011 7:36 AM

SIGNYM

I believe in solving problems, not sharing them.


Household income fell more in recovery than in recession: study

Quote:

Some recovery: Household income fell more after the official end of the recession than it did during the recession itself, according to a new report.

Between December 2007 and June 2009, median annual household income slumped 3.2% to $53,518, according to a report from two former Census Bureau officials.

From that point until June this year, incomes fell to $49,909 — a 6.7% decline, according to Gordon Green and John Code of Sentier Research.

So while the economy technically has been growing, the good news has yet to reach average Americans, who have been saddled with three straight months of 9.1% unemployment as well as a volatile stock market and high prices.

The recovery has been difficult for many, according to the report. Jobless household heads saw their income plunge 18.4% to $33,487 annually, compared to a 5.1% slide to $68,454 a year for full-time workers.

Single parents are making 7.3% less — just $36,465, the report found. Married households are pulling in $73,324, a 4.5% drop.



Additional studies show people losing health insurance and net wealth more than "during" the recession. As a percentage, more Americans than Chinese report not having enough money for basic necessities like food, housing, and health care.


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Saturday, October 15, 2011 7:48 AM

OLDENGLANDDRY


Deny it as much as you like, the collapse is coming.

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Saturday, October 15, 2011 9:04 AM

SIGNYM

I believe in solving problems, not sharing them.


Well, I'm not in denial.

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Sunday, October 16, 2011 5:33 AM

NIKI2

Gettin' old, but still a hippie at heart...


Yup, that's the legacy Bush left us with, and Obama hasn't fixed it, which is why so many are outraged. Nobody knew just how bad it WAS when things started going downhill...we're sure finding out now!

How I wish we had an alternative on the left...sigh...

Saw a sign at the demonstration I liked: "It'll get much worse before it gets...worse".


Hippie Operative Nikovich Nikita Nicovna Talibani,
Contracted Agent of Veritas Oilspillus, code name “Nike”,
signing off



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