Household Incomes Still Falling

    People wait in line to enter a job fair in New York August 15, 2011. U.S. President Barack Obama began a bus tour of the U.S. Midwest focused on jobs and the economy on Monday, aiming to leave behind doubts about his leadership that could dent his 2012 re-election prospects. 

    Shannon Stapleton / Reuters

    It's worse than we thought. New research found that household incomes declined more in the two years after the recession ended than it did during the recession itself. From June 2009 to June 2011, the median household income fell 6.7 percent to $49,900, while during the recession—December 2007 to June 2009—household income fell just 3.2 percent. While economists generally agree the recession ended in June 2009, some are worried another one is on its way based off this type of data. Family households had the largest drop, and the disparity between those with a bachelor’s degree or more and those with a high school diploma grew even larger.

    Read it at The New York Times