Thursday, August 23, 2012
WIN: Household median incomes struggle to recover
A new report from the Sentier Research suggests that the median household income for Americans is struggling to recover from its massive retreat.
The median household income was at a high point of $54,916 when the recession started in December of 2007.
Economists determined that the official end of the recession was in June of 2009 when median household income was $53,518.
Household incomes typically lag other economic indicators in a recovery due to the employment situation and household incomes continued to plummet until they bottomed out in September 2011 when the median household income was $49,445.
While household incomes still continues to struggle the report shows that some ground has been made. In June of 2012 median incomes had crept up to $50,964.
source: Workers Independent News
Posted by Eric Elder at 6:57 PM