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.
