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Thursday, August 22, 2013

Has the recession really ended for many Americans?

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Hmmmmm, median income was $52,098-- that's a bit above $4300 a month.  I bet there are a lot of fast food (and Walmart) workers who wish they made that much!
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Report: Household income below end-of-recession
By Kelly Evans, August 22, 2013

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.

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