Monday, October 10, 2011

Down and down more


One reason consumers feel so pessimistic may be that income levels have declined more since the recession ended than during the period of recession. This from a study by two former census officials
During the recession, real median annual household income fell by 3.2 percent, from $55,309 in December 2007 to $53,518 in June 2009. During the economic recovery, real median annual household income fell by an additional 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011.