Personal incomes fall more during ‘recovery’ than during the recession
By Mike Opelka
January 4, 2012
America’s longest economic recession since WWII, ended in June of 2009. The recession’s end means that our economy has allegedly been in recovery mode since July of 2009, more than two and a half years.
If we are in recovery, why have American’s incomes dropped more during the recovery than they did in the recession? The facts are clear.
Personal incomes fell during the recession by 3.2%.
During the recovery (since July 2009), personal incomes have fallen an additional 6.7%.
Those numbers were posted in a report by Sentier Research using numbers provided by the U.S. Census. (The RED line is the Household Income Index)
The Obama administration has been touting the “recovery” of the American economy and yet this recent data seems to demonstrate that the average household is still waiting for some of the benefits seen in the stock market.