Report: Household Incomes Lower Than 2009
The average American household is earning less than when the Great Recession ended four years ago, according to a report released Wednesday (Aug. 21).
CNBC reported that U.S. median household income, once adjusted for inflation, has fallen 4.4% 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.