Rakesh Kochar, writing for the Pew Research Center, examined household income during the recent recession and recovery. From 2007 to 2009, the median household income fell 4.2%, and while the economy began to turn around and businesses started to rebuild, incomes continued to drop. From 2009 to 2011, as the U.S. embarked on a sluggish recovery, the median income failed to improve. In fact, the median household income fell almost as much (4.1%) during the recovery years as during the recession. After a 5.7% decrease in household income due to the 1973 recession, incomes salvaged a 2.3% increase in the following 2 year recovery period. The 1980 to 1982 recession drove incomes down 5.0%, but in the subsequent two-year recovery, incomes rebounded with a 2.4% improvement. This prolonged period of income losses reflects a greater trend from the past decade. The highest median household income was $54,932 in 1999, and since then, that level has only been approached in 2007, when incomes were $54,489.
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