Friday, 29 March 2013

STICKY WAGES? I DON'T THINK SO...

This is a very quick post, to link something I thought interesting and worth preserving: 

http://economix.blogs.nytimes.com/2013/03/28/median-household-income-down-7-3-since-start-of-recession/

"Median annual household income in February 2013 was $51,404, about 1.1 percent (or $590) lower than the January 2013 level of $51,994. The numbers are all pretax, and are adjusted for both inflation and seasonal changes


The longer-run trends are even more depressing.

February’s median annual household income was 5.6 percent lower than it was in June 2009, the month the recovery technically began; 7.3 percent lower than in December 2007, when the most recent recession officially started; and 8.4 percent lower than in January 2000, the earliest date that this statistical series became available".


Source: Sentier Research analysis of Labor Department data. Note that vertical axis does not start at zero to better show the change.

For the pointer, I thank "Calculated Risk": http://www.calculatedriskblog.com/2013/03/friday-personal-income-and-outlays.html