In a grim sign of the enduring nature of the economic slump, household income declined more in the two years after the recession ended than it did during the recession itself, new research has found.Average US household income has declined almost 10% in two years, while corporate profits continued to break records, and there are still people wondering what Occupy Wall Street is all about...? LOL.
Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials.
...The full 9.8 percent drop in income from the start of the recession to this June — the most recent month in the study — appears to be the largest in several decades, according to other Census Bureau data.
Posted by Melissa McEwan at Monday, October 10, 2011
6.7%: The percentage decrease in inflation-adjusted median US household income between June 2009, the official "end" of the recession, and June 2011.