Friday, August 24, 2012

55-64 Years Old Suffered Biggest Income Loss, Almost 10 Percent, Since Recovery Began In 2009

From The New York Times Economix Blog, "Big Income Losses for Those Near Retirement" by Catherine Rampell:
The typical household income for people age 55 to 64 years old is almost 10 percent less in today’s dollars than it was when the recovery officially began three years ago, according to a new report from Sentier Research, a data analysis company that specializes in demographic and income data.
Across the country, in almost every demographic, Americans earn less today than they did in June 2009, when the recovery technically started. As of June, the median household income for all Americans was $50,964, or 4.8 percent lower than its level three years earlier, when the inflation-adjusted median income was $53,508.
Sources: Sentier Research estimated annual household income derived from the monthly Current Population Survey conducted by the Census Bureau.
Source: The New York Times 

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