Economic Recovery Failing Average American
When I talk to friends and family, one of the most common concerns they tell me about is their frustration over the current economic recovery—with the slow pace of job creation and the relatively high number of unemployed keeping a tight lid on wages.
A new study has quantified the damage done, showing just how weak the current economic recovery really is.
According to Sentier Research, the current median income in June of 2013 was $52,100. This represents a drop of 4.4% from June of 2009, when the recession officially ended, and 6.1% below the December 2007 median income, prior to the Great Recession. (Source: “Household Income on the Fourth Anniversary of the Economic Recovery: June 2009 to June 2013,” Sentier Research LLC web site, August 21, 2013.)
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