June 2009 to June 2014.” This report found, depressingly, that five years into an “economic recovery,” real median household income “is now 3.1 percent below that of June 2009 when the ‘great recession’ officially ended.” In dollar terms, real median household income fell by $1,698. So much for the Obama claim on Labor Day that “by nearly any measure, the economy is doing better.” Well, actually, for more than half of Americans, their personal financial situation is worse.
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the poor and unskilled that Mr. Obama says he cares so much about saw their incomes fall by 7.4 percent for those with less than a high-school diploma and 8.2 percent for those with only a high-school diploma.
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One reason incomes haven’t risen for most groups is the steady decline in labor-force participation. That number has dropped to 62.9 percent from 65.5 percent five years ago. This means a 6.4 million drop in workers earning paychecks.
(Excerpt) Read more at washingtontimes.com ...
