Carlin: Wall Street Owns Washington

The average American household is now earning LESS income than it did at the end of the Great Recession


  • Race, age, and geographic location all factor into how badly households have been hit by post-recession money woes
  • Only householders aged 65-74 saw an increase in average income

The average household is earning less than when the Great Recession ended four years ago and some Americans are affected even more than others.

U.S. median household income, once adjusted for inflation, has fallen 4.4 percent since the official end of the recession, according to Census Bureau statistics.

Specific groups such as blacks, the young, and the upper-middle-aged have experienced even larger than average drops in income.

Younger people and those aged between 55 and 64 were hit worse than other age groups. In the older group, income dropped from $62,842 to $58,432 on average.

In only one group did median income go up. Americans aged 65 to 74 saw their average income go from $40,885 to $42,984.

Read more: http://www.dailymail.co.uk/news/article-2400395/The-average-American-household-earning-LESS-income-did-end-Great-Recession.html#ixzz2cjvWcZyU